Red Hat, Inc. (RHT) Position Held by Fortaleza Asset Management Inc.
Fortaleza Asset Management Inc. maintained its stake in Red Hat, Inc. (NYSE:RHT) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,295 shares of the open-source software company’s stock at the end of the second quarter. Fortaleza Asset Management Inc.’s holdings in Red Hat were worth $411,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently bought and sold shares of RHT. Shine Investment Advisory Services Inc. bought a new stake in Red Hat during the second quarter worth approximately $117,000. State of Alaska Department of Revenue bought a new stake in Red Hat during the second quarter worth approximately $122,000. Bronfman E.L. Rothschild L.P. boosted its stake in 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 worth $132,000 after buying an additional 21 shares in the last quarter. YorkBridge Wealth Partners LLC boosted its stake in 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 worth $136,000 after buying an additional 778 shares in the last quarter. Finally, Global X Management Co. LLC boosted its stake in Red Hat by 91.3% in the second quarter. Global X Management Co. LLC now owns 1,542 shares of the open-source software company’s stock worth $148,000 after buying an additional 736 shares in the last quarter. Hedge funds and other institutional investors own 93.23% of the company’s stock.
Red Hat, Inc. (NYSE:RHT) traded down 0.23% during trading on Friday, reaching $100.43. The company had a trading volume of 1,708,865 shares. The company has a market capitalization of $17.82 billion, a P/E ratio of 68.79 and a beta of 1.26. Red Hat, Inc. has a 12 month low of $68.54 and a 12 month high of $101.82. The stock has a 50 day moving average of $98.41 and a 200-day moving average of $89.27.
Red Hat (NYSE:RHT) last issued its quarterly earnings data on Tuesday, June 20th. The open-source software company reported $0.56 EPS for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.03. The business had revenue of $677 million for the quarter, compared to analyst estimates of $647.42 million. Red Hat had a return on equity of 22.84% and a net margin of 10.54%. The firm’s revenue for the quarter was up 19.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.50 EPS. Equities research analysts expect that Red Hat, Inc. will post $2.68 EPS for the current fiscal year.
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A number of analysts recently commented on the company. BMO Capital Markets lifted their price objective on Red Hat from $90.00 to $107.00 and gave the stock a “market perform” rating in a research report on Wednesday, June 21st. Goldman Sachs Group, Inc. (The) lifted their price objective on Red Hat from $85.00 to $97.00 and gave the stock a “buy” rating in a research report on Wednesday, June 21st. Piper Jaffray Companies assumed coverage on Red Hat in a research report on Friday, June 23rd. They set a “neutral” rating and a $100.00 price objective for the company. Bank of America Corporation reiterated a “neutral” rating and set a $105.00 price objective (up previously from $92.00) on shares of Red Hat in a research report on Wednesday, June 21st. Finally, MKM Partners reiterated a “neutral” rating and set a $98.00 price objective (up previously from $82.00) on shares of Red Hat in a research report on Friday, June 23rd. Nine investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. Red Hat currently has an average rating of “Buy” and an average target price of $98.72.
In other news, CEO James M. Whitehurst sold 12,000 shares of the stock in a transaction dated Monday, July 3rd. The stock was 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 owns 422,873 shares of the company’s stock, valued at approximately $40,468,946.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Eric Ryan Shander sold 1,521 shares of the stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $99.98, for a total value of $152,069.58. Following the transaction, 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. 0.66% of the stock is currently owned by insiders.
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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