Wilkins Investment Counsel Inc. maintained its position in Red Hat, Inc. (NYSE:RHT) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,935 shares of the open-source software company’s stock at the close of the 2nd quarter. Wilkins Investment Counsel Inc.’s holdings in Red Hat were worth $1,143,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Red Hat by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 17,147,907 shares of the open-source software company’s stock valued at $1,483,294,000 after buying an additional 399,260 shares in the last quarter. FMR LLC lifted its stake in Red Hat by 3.3% in the 1st quarter. FMR LLC now owns 10,079,689 shares of the open-source software company’s stock valued at $871,894,000 after buying an additional 317,464 shares in the last quarter. Sustainable Growth Advisers LP lifted its stake in Red Hat by 3.8% in the 1st quarter. Sustainable Growth Advisers LP now owns 2,425,693 shares of the open-source software company’s stock valued at $209,823,000 after buying an additional 88,232 shares in the last quarter. DF Dent & Co. Inc. lifted its stake in Red Hat by 2.7% in the 1st quarter. DF Dent & Co. Inc. now owns 1,803,495 shares of the open-source software company’s stock valued at $156,002,000 after buying an additional 47,219 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in Red Hat by 8.8% in the 1st quarter. Geode Capital Management LLC now owns 1,681,066 shares of the open-source software company’s stock valued at $145,198,000 after buying an additional 135,533 shares in the last quarter. 94.21% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Red Hat, Inc. (NYSE:RHT) traded down 0.527% during mid-day trading on Friday, hitting $107.172. The stock had a trading volume of 411,718 shares. Red Hat, Inc. has a 52 week low of $68.54 and a 52 week high of $108.13. The stock has a 50-day moving average price of $102.70 and a 200 day moving average price of $92.61. The stock has a market cap of $19.02 billion, a P/E ratio of 73.405 and a beta of 1.24.
Red Hat (NYSE:RHT) last announced its earnings results 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 for the quarter, compared to the consensus estimate of $647.42 million. Red Hat had a net margin of 10.54% and a return on equity of 22.84%. The business’s quarterly revenue was up 19.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.50 EPS. On average, equities analysts forecast that Red Hat, Inc. will post $2.69 EPS for the current fiscal year.
A number of equities research analysts recently issued reports on the company. JMP Securities upped their target price on Red Hat from $107.00 to $122.00 and gave the company an “outperform” rating in a research note on Wednesday. KeyCorp reissued an “overweight” rating and set a $121.00 price target on shares of Red Hat in a research note on Friday, September 8th. Moffett Nathanson initiated coverage on Red Hat in a research note on Wednesday, September 6th. They set a “buy” rating on the stock. Credit Suisse Group initiated coverage on Red Hat in a research note on Tuesday, September 5th. They set a “neutral” rating and a $111.00 price target on the stock. Finally, Piper Jaffray Companies reissued a “hold” rating and set a $100.00 price target on shares of Red Hat in a research note on Sunday, August 27th. Eleven equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. Red Hat has an average rating of “Buy” and an average price target of $100.71.
In related news, CEO James M. Whitehurst sold 12,000 shares of Red Hat stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $95.70, for a total value of $1,148,400.00. Following the transaction, the chief executive officer now owns 422,873 shares in the company, valued at approximately $40,468,946.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William S. Kaiser sold 10,994 shares of Red Hat stock in a transaction on Friday, July 7th. The stock was sold at an average price of $96.20, for a total transaction of $1,057,622.80. Following the completion of the transaction, the director now owns 80,814 shares in the company, valued at approximately $7,774,306.80. The disclosure for this sale can be found here. Insiders sold a total of 44,087 shares of company stock worth $4,265,012 in the last quarter. Insiders own 0.66% of the company’s stock.
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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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