US Bancorp DE Acquires 870 Shares of Red Hat, Inc. (RHT)

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.

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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.

Institutional Ownership by Quarter for Red Hat (NYSE:RHT)

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