Delta Lloyd Asset Management N.V. bought a new stake in Red Hat, Inc. (NYSE:RHT) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 205,383 shares of the open-source software company’s stock, valued at approximately $19,665,000. Delta Lloyd Asset Management N.V. owned approximately 0.12% of Red Hat at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of the company. Shine Investment Advisory Services Inc. acquired a new stake in Red Hat during the 2nd quarter worth $117,000. State of Alaska Department of Revenue acquired a new stake in shares of Red Hat in the 2nd quarter worth $122,000. Bronfman E.L. Rothschild L.P. lifted its stake in shares of Red Hat by 1.4% in the 1st quarter. Bronfman E.L. Rothschild L.P. now owns 1,521 shares of the open-source software company’s stock worth $132,000 after acquiring an additional 21 shares during the period. YorkBridge Wealth Partners LLC lifted its stake in shares of Red Hat by 102.4% in the 1st quarter. YorkBridge Wealth Partners LLC now owns 1,538 shares of the open-source software company’s stock worth $136,000 after acquiring an additional 778 shares during the period. Finally, Global X Management Co. LLC lifted its stake in shares of Red Hat by 91.3% in the 2nd quarter. Global X Management Co. LLC now owns 1,542 shares of the open-source software company’s stock worth $148,000 after acquiring an additional 736 shares during the period. Institutional investors and hedge funds own 94.21% of the company’s stock.
A number of brokerages have recently issued reports on RHT. Robert W. Baird increased their price target on shares of Red Hat from $90.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, June 21st. Mizuho dropped their target price on shares of Red Hat from $109.00 to $96.00 and set a “buy” rating for the company in a report on Wednesday, June 21st. Morgan Stanley restated an “equal weight” rating and set a $98.00 target price (up from $90.00) on shares of Red Hat in a report on Wednesday, June 21st. BTIG Research lowered their price target on shares of Red Hat from $120.00 to $95.00 and set a “buy” rating for the company in a report on Wednesday, June 21st. Finally, Jefferies Group LLC reiterated a “hold” rating on shares of Red Hat in a report on Thursday, June 22nd. Eleven analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $100.71.
Shares of Red Hat, Inc. (NYSE:RHT) traded down 0.41% during trading on Friday, hitting $107.30. The stock had a trading volume of 1,208,885 shares. The company has a market capitalization of $19.04 billion, a price-to-earnings ratio of 73.49 and a beta of 1.24. The firm has a 50 day moving average of $102.94 and a 200 day moving average of $92.77. Red Hat, Inc. has a 1-year low of $68.54 and a 1-year high of $108.13.
Red Hat (NYSE:RHT) last issued its quarterly earnings data on Tuesday, June 20th. The open-source software company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.53 by $0.03. The firm had revenue of $677.00 million during the quarter, compared to the consensus estimate of $647.42 million. Red Hat had a return on equity of 22.84% and a net margin of 10.54%. The company’s quarterly revenue was up 19.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.50 earnings per share. Analysts expect that Red Hat, Inc. will post $2.69 EPS for the current fiscal year.
In other Red Hat news, Director William S. Kaiser sold 4,006 shares of the firm’s stock in a transaction on Friday, June 30th. The stock was sold at an average price of $96.43, for a total value of $386,298.58. Following the completion of the sale, the director now directly owns 91,808 shares of the company’s stock, valued at $8,853,045.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Eric Ryan Shander sold 1,521 shares of the firm’s stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $99.98, for a total value of $152,069.58. Following the completion of the sale, the chief financial officer now directly owns 9,913 shares of the company’s stock, valued at $991,101.74. The disclosure for this sale can be found here. Over the last three months, insiders sold 44,087 shares of company stock valued at $4,265,012. Company insiders own 0.66% of the company’s stock.
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About Red Hat
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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