Needham Investment Management LLC reduced its position in shares of Red Hat Inc (NYSE:RHT) by 17.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,000 shares of the open-source software company’s stock after selling 4,000 shares during the quarter. Needham Investment Management LLC’s holdings in Red Hat were worth $2,282,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Zions Bancorporation bought a new stake in Red Hat during the third quarter worth $164,000. Calton & Associates Inc. acquired a new position in shares of Red Hat in the fourth quarter valued at $189,000. Winslow Evans & Crocker Inc. acquired a new position in shares of Red Hat in the fourth quarter valued at $193,000. Parkwood LLC acquired a new position in shares of Red Hat in the third quarter valued at $200,000. Finally, ARP Americas LP acquired a new position in shares of Red Hat in the fourth quarter valued at $204,000. 94.63% of the stock is currently owned by hedge funds and other institutional investors.
Red Hat Inc (NYSE:RHT) opened at $149.72 on Wednesday. The company has a market cap of $26,520.55, a PE ratio of 81.81, a PEG ratio of 3.97 and a beta of 1.06. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.53. Red Hat Inc has a fifty-two week low of $80.93 and a fifty-two week high of $152.31.
Red Hat (NYSE:RHT) last issued its quarterly earnings data on Tuesday, December 19th. The open-source software company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.03. The business had revenue of $747.98 million during the quarter, compared to analyst estimates of $734.69 million. Red Hat had a net margin of 12.14% and a return on equity of 26.23%. The firm’s quarterly revenue was up 21.6% on a year-over-year basis. During the same quarter last year, the business earned $0.61 EPS. equities research analysts forecast that Red Hat Inc will post 2.08 EPS for the current fiscal year.
In related news, Director William S. Kaiser sold 7,700 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $130.00, for a total value of $1,001,000.00. Following the completion of the transaction, the director now owns 61,652 shares in the company, valued at approximately $8,014,760. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO James M. Whitehurst sold 5,593 shares of the firm’s stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $124.87, for a total transaction of $698,397.91. Following the transaction, the chief executive officer now owns 373,506 shares of the company’s stock, valued at approximately $46,639,694.22. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,686 shares of company stock valued at $1,873,342. 0.66% of the stock is owned by company insiders.
RHT has been the topic of several research reports. Cowen restated a “buy” rating and issued a $136.00 price target on shares of Red Hat in a research note on Monday, December 11th. Royal Bank of Canada upped their price target on shares of Red Hat to $134.00 and gave the company an “outperform” rating in a research note on Thursday, December 14th. Evercore ISI upped their price target on shares of Red Hat to $140.00 and gave the company a “buy” rating in a research note on Monday, December 18th. Deutsche Bank restated a “buy” rating and issued a $150.00 price target on shares of Red Hat in a research note on Wednesday, December 20th. Finally, Wells Fargo & Co set a $144.00 price target on shares of Red Hat and gave the company a “buy” rating in a research note on Wednesday, December 20th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and twenty-three have assigned a buy rating to the company. Red Hat currently has a consensus rating of “Buy” and a consensus target price of $126.65.
Red Hat Company Profile
Red Hat, Inc (Red Hat) provides open source software solutions, using a community-powered approach to develop and offer operating system, virtualization, management, middleware, cloud, mobile and storage technologies. Red Hat operates through three geographical segments: the Americas, including the United States, Canada and Latin America; EMEA, including Europe, Middle East and Africa, and Asia Pacific.
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