US Bancorp DE boosted its position in Red Hat, Inc. (NYSE:RHT) by 1.0% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 84,508 shares of the open-source software company’s stock after buying an additional 870 shares during the period. US Bancorp DE’s holdings in Red Hat were worth $8,091,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently modified their holdings of RHT. State of Alaska Department of Revenue purchased a new position in shares of Red Hat during the second quarter worth about $122,000. Bronfman E.L. Rothschild L.P. raised its stake in shares of Red Hat by 1.4% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 1,521 shares of the open-source software company’s stock valued at $132,000 after buying an additional 21 shares during the last quarter. YorkBridge Wealth Partners LLC raised its stake in shares of Red Hat by 102.4% in the first quarter. YorkBridge Wealth Partners LLC now owns 1,538 shares of the open-source software company’s stock valued at $136,000 after buying an additional 778 shares during the last quarter. CENTRAL TRUST Co raised its stake in shares of Red Hat by 8.2% in the first quarter. CENTRAL TRUST Co now owns 1,839 shares of the open-source software company’s stock valued at $159,000 after buying an additional 139 shares during the last quarter. Finally, Point72 Asia Hong Kong Ltd acquired a new stake in shares of Red Hat during the first quarter valued at approximately $170,000. 93.23% of the stock is owned by institutional investors and hedge funds.
Red Hat, Inc. (NYSE:RHT) traded down 0.23% during mid-day trading on Friday, reaching $100.43. The company’s stock had a trading volume of 1,708,865 shares. The firm’s 50 day moving average is $98.41 and its 200-day moving average is $89.27. The stock has a market cap of $17.82 billion, a P/E ratio of 68.79 and a beta of 1.26. Red Hat, Inc. has a one year low of $68.54 and a one year high of $101.82.
Red Hat (NYSE:RHT) last issued its quarterly earnings data on Tuesday, June 20th. The open-source software company reported $0.56 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.03. The company had revenue of $677 million for the quarter, compared to analyst estimates of $647.42 million. Red Hat had a net margin of 10.54% and a return on equity of 22.84%. Red Hat’s revenue was up 19.2% compared to the same quarter last year. During the same period last year, the company posted $0.50 earnings per share. Equities analysts expect that Red Hat, Inc. will post $2.68 earnings per share for the current fiscal year.
TRADEMARK VIOLATION WARNING: This article was posted by BNB Daily and is the sole property of of BNB Daily. If you are accessing this article on another domain, it was copied illegally and reposted in violation of U.S. & international copyright and trademark legislation. The legal version of this article can be viewed at https://www.baseball-news-blog.com/2017/08/19/us-bancorp-de-increases-position-in-red-hat-inc-rht-updated-updated-updated.html.
RHT has been the topic of several research analyst reports. Oppenheimer Holdings, Inc. restated an “outperform” rating and set a $105.00 target price (up previously from $96.00) on shares of Red Hat in a research report on Thursday, June 22nd. Piper Jaffray Companies began coverage on Red Hat in a report on Friday, June 23rd. They issued a “neutral” rating and a $100.00 price target on the stock. Zacks Investment Research downgraded Red Hat from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 3rd. MKM Partners reissued a “neutral” rating and issued a $98.00 price objective (up from $82.00) on shares of Red Hat in a research note on Friday, June 23rd. Finally, Goldman Sachs Group, Inc. (The) increased their price target on Red Hat from $85.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday, June 21st. Nine research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $98.72.
In related news, EVP Paul J. Cormier sold 30,000 shares of Red Hat stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $90.35, for a total transaction of $2,710,500.00. Following the transaction, the executive vice president now directly owns 249,578 shares of the company’s stock, valued at $22,549,372.30. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO James M. Whitehurst sold 12,000 shares of Red Hat stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $95.70, for a total transaction of $1,148,400.00. Following the transaction, the chief executive officer now directly owns 422,873 shares in the company, valued at $40,468,946.10. The disclosure for this sale can be found here. Over the last three months, insiders have sold 130,549 shares of company stock worth $12,133,438. 0.66% of the stock is currently owned by corporate insiders.
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.
Receive News & Ratings for Red Hat Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Red Hat Inc. and related companies with MarketBeat.com's FREE daily email newsletter.