Hillview Capital Advisors LLC bought a new position in shares of Red Hat, Inc. (NYSE:RHT) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 3,600 shares of the open-source software company’s stock, valued at approximately $345,000. Red Hat accounts for about 1.5% of Hillview Capital Advisors LLC’s investment portfolio, making the stock its 5th largest position.
Other hedge funds also recently made changes to their positions in the company. DnB Asset Management AS boosted its stake in shares of Red Hat by 242.9% in the first quarter. DnB Asset Management AS now owns 58,456 shares of the open-source software company’s stock valued at $5,056,000 after buying an additional 41,410 shares during the last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in Red Hat during the first quarter worth $1,011,000. Verde Servicos Internacionais S.A. increased its stake in Red Hat by 24.4% in the first quarter. Verde Servicos Internacionais S.A. now owns 78,000 shares of the open-source software company’s stock worth $6,747,000 after buying an additional 15,300 shares during the period. Bremer Trust National Association acquired a new stake in Red Hat during the first quarter worth $332,000. Finally, Bank of Montreal Can increased its stake in Red Hat by 0.4% in the first quarter. Bank of Montreal Can now owns 194,562 shares of the open-source software company’s stock worth $16,828,000 after buying an additional 807 shares during the period. Institutional investors and hedge funds own 93.23% of the company’s stock.
Shares of Red Hat, Inc. (RHT) traded down 0.23% during trading on Friday, reaching $100.43. 1,708,865 shares of the company’s stock traded hands. The company has a 50 day moving average of $98.41 and a 200-day moving average of $89.27. The company has a market capitalization of $17.82 billion, a price-to-earnings ratio of 68.79 and a beta of 1.26. Red Hat, Inc. has a 1-year low of $68.54 and a 1-year high of $101.82.
Red Hat (NYSE:RHT) last released its earnings results on Tuesday, June 20th. The open-source software company reported $0.56 earnings per share for the quarter, beating the Thomson Reuters’ 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 company had revenue of $677 million for the quarter, compared to analysts’ expectations of $647.42 million. During the same quarter in the previous year, the business posted $0.50 EPS. The business’s revenue for the quarter was up 19.2% on a year-over-year basis. Equities analysts predict that Red Hat, Inc. will post $2.68 earnings per share for the current year.
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Several equities analysts recently commented on RHT shares. Zacks Investment Research upgraded shares of Red Hat from a “hold” rating to a “strong-buy” rating and set a $101.00 price target on the stock in a report on Tuesday, May 2nd. BTIG Research dropped their target price on shares of Red Hat from $120.00 to $95.00 and set a “buy” rating on the stock in a research note on Wednesday, June 21st. Oppenheimer Holdings, Inc. restated an “outperform” rating and issued a $96.00 target price (up from $94.00) on shares of Red Hat in a research note on Wednesday, May 10th. Sanford C. Bernstein started coverage on shares of Red Hat in a research report on Wednesday, May 24th. They issued a “market perform” rating and a $102.00 price target for the company. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $112.00 price target (up previously from $95.00) on shares of Red Hat in a research report on Thursday, June 22nd. Nine research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. Red Hat has an average rating of “Buy” and a consensus target price of $98.72.
In other news, CFO Eric Ryan Shander sold 1,521 shares of Red Hat stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $99.98, for a total transaction of $152,069.58. Following the completion of the sale, the chief financial officer now directly owns 9,913 shares in the company, valued at approximately $991,101.74. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO James M. Whitehurst sold 12,000 shares of Red Hat stock in a transaction dated 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 sale, the chief executive officer now owns 422,873 shares of the company’s stock, valued at $40,468,946.10. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 130,549 shares of company stock worth $12,133,438. Company insiders own 0.66% of the company’s stock.
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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