APG Asset Management N.V. lowered its stake in Red Hat, Inc. (NYSE:RHT) by 14.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 115,435 shares of the open-source software company’s stock after selling 19,004 shares during the period. APG Asset Management N.V. owned approximately 0.07% of Red Hat worth $11,053,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of the stock. Jericho Capital Asset Management L.P. purchased a new stake in shares of Red Hat during the first quarter worth about $92,816,000. MARSHALL WACE ASIA Ltd bought a new position in Red Hat during the first quarter worth approximately $61,821,000. Marshall Wace North America L.P. bought a new position in Red Hat during the first quarter worth approximately $61,821,000. TimesSquare Capital Management LLC bought a new position in Red Hat during the first quarter worth approximately $58,586,000. Finally, Vanguard Group Inc. boosted its position in Red Hat by 2.4% in the first quarter. Vanguard Group Inc. now owns 17,147,907 shares of the open-source software company’s stock worth $1,483,294,000 after buying an additional 399,260 shares during the period. 93.23% of the stock is currently owned by institutional investors.
Red Hat, Inc. (NYSE:RHT) traded down 0.23% during midday trading on Friday, hitting $100.43. The stock had a trading volume of 1,708,865 shares. Red Hat, Inc. has a 52-week low of $68.54 and a 52-week high of $101.82. The company’s 50 day moving average price is $98.41 and its 200-day moving average price is $89.27. The stock has a market cap of $17.82 billion, a PE ratio of 68.79 and a beta of 1.26.
Red Hat (NYSE:RHT) last released its quarterly earnings results on Tuesday, June 20th. The open-source software company reported $0.56 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.03. Red Hat had a return on equity of 22.84% and a net margin of 10.54%. The firm had revenue of $677 million for the quarter, compared to analyst estimates of $647.42 million. During the same quarter last year, the company posted $0.50 earnings per share. The business’s revenue was up 19.2% on a year-over-year basis. Analysts forecast that Red Hat, Inc. will post $2.68 EPS for the current fiscal year.
A number of brokerages recently issued reports on RHT. MKM Partners reiterated a “neutral” rating and issued a $98.00 price objective (up previously from $82.00) on shares of Red Hat in a report on Friday, June 23rd. Zacks Investment Research upgraded shares of Red Hat from a “hold” rating to a “buy” rating and set a $111.00 price target for the company in a report on Friday, June 23rd. Piper Jaffray Companies initiated coverage on shares of Red Hat in a report on Friday, June 23rd. They set a “neutral” rating and a $100.00 price target for the company. Jefferies Group LLC reaffirmed a “hold” rating on shares of Red Hat in a research report on Thursday, June 22nd. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $112.00 price objective (up previously from $95.00) on shares of Red Hat in a research report on Thursday, June 22nd. Nine investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $98.72.
In other news, Director William S. Kaiser sold 4,006 shares of the business’s stock in a transaction that occurred on Friday, June 30th. The stock was sold at an average price of $96.43, for a total transaction of $386,298.58. Following the sale, the director now owns 91,808 shares of the company’s stock, valued at approximately $8,853,045.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Eric Ryan Shander sold 1,521 shares of the business’s stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 9,913 shares in the company, valued at approximately $991,101.74. The disclosure for this sale can be found here. In the last three months, insiders have sold 130,549 shares of company stock worth $12,133,438. Corporate insiders own 0.66% of the company’s stock.
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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