Charter Trust Co. acquired a new position in shares of Red Hat Inc (NYSE:RHT) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,757 shares of the open-source software company’s stock, valued at approximately $211,000.
Several other hedge funds also recently modified their holdings of the company. Schwab Charles Investment Management Inc. increased its position in shares of Red Hat by 1.7% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 680,404 shares of the open-source software company’s stock worth $81,717,000 after acquiring an additional 11,248 shares in the last quarter. HWG Holdings LP bought a new stake in shares of Red Hat during the fourth quarter worth $285,000. DAVENPORT & Co LLC bought a new stake in shares of Red Hat during the fourth quarter worth $234,000. Creative Planning increased its position in shares of Red Hat by 31.3% during the fourth quarter. Creative Planning now owns 8,205 shares of the open-source software company’s stock worth $985,000 after acquiring an additional 1,954 shares in the last quarter. Finally, Bank of Montreal Can grew its position in Red Hat by 93.9% in the fourth quarter. Bank of Montreal Can now owns 1,242,177 shares of the open-source software company’s stock valued at $149,187,000 after purchasing an additional 601,622 shares in the last quarter. 94.32% of the stock is owned by institutional investors.
In other news, CEO James M. Whitehurst sold 5,593 shares of the firm’s stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $124.87, for a total transaction of $698,397.91. Following the completion of the sale, the chief executive officer now owns 373,506 shares in the company, valued at approximately $46,639,694.22. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Delisa Alexander sold 1,393 shares of the firm’s stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $124.87, for a total transaction of $173,943.91. Following the sale, the executive vice president now owns 36,420 shares of the company’s stock, valued at approximately $4,547,765.40. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.
Red Hat (NYSE:RHT) last posted its earnings results on Tuesday, December 19th. The open-source software company reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.03. The company had revenue of $747.98 million during the quarter, compared to analysts’ expectations of $734.69 million. Red Hat had a net margin of 12.14% and a return on equity of 26.23%. Red Hat’s quarterly revenue was up 21.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.61 EPS. research analysts forecast that Red Hat Inc will post 2.08 earnings per share for the current year.
RHT has been the subject of a number of analyst reports. Zacks Investment Research raised shares of Red Hat from a “hold” rating to a “buy” rating and set a $120.00 target price for the company in a research report on Thursday, September 21st. Cowen reaffirmed an “outperform” rating and issued a $120.00 target price on shares of Red Hat in a research report on Sunday, September 24th. Drexel Hamilton reaffirmed a “buy” rating and issued a $130.00 target price (up previously from $127.00) on shares of Red Hat in a research report on Monday, September 25th. Robert W. Baird reaffirmed a “hold” rating on shares of Red Hat in a research report on Tuesday, September 26th. Finally, Jefferies Group raised their target price on shares of Red Hat to $100.00 and gave the company a “hold” rating in a research report on Tuesday, September 26th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and twenty-two have assigned a buy rating to the company’s stock. Red Hat currently has an average rating of “Buy” and a consensus target price of $124.25.
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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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