Westpac Banking Corp Lowers Stake in Red Hat, Inc. (RHT)
Westpac Banking Corp lessened its holdings in Red Hat, Inc. (NYSE:RHT) by 88.3% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 10,488 shares of the open-source software company’s stock after selling 79,100 shares during the period. Westpac Banking Corp’s holdings in Red Hat were worth $1,004,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Bronfman E.L. Rothschild L.P. lifted its position in shares of Red Hat by 1.4% in the 1st quarter. Bronfman E.L. Rothschild L.P. now owns 1,521 shares of the open-source software company’s stock worth $132,000 after purchasing an additional 21 shares during the period. Mason Street Advisors LLC lifted its position in shares of Red Hat by 0.3% in the 1st quarter. Mason Street Advisors LLC now owns 24,638 shares of the open-source software company’s stock worth $2,131,000 after purchasing an additional 70 shares during the period. Nordea Investment Management AB lifted its position in shares of Red Hat by 1.0% in the 1st quarter. Nordea Investment Management AB now owns 6,919 shares of the open-source software company’s stock worth $598,000 after purchasing an additional 70 shares during the period. Advantus Capital Management Inc lifted its position in shares of Red Hat by 0.5% in the 1st quarter. Advantus Capital Management Inc now owns 17,955 shares of the open-source software company’s stock worth $1,553,000 after purchasing an additional 93 shares during the period. Finally, Outfitter Advisors LTD. lifted its position in shares of Red Hat by 0.9% in the 1st quarter. Outfitter Advisors LTD. now owns 11,020 shares of the open-source software company’s stock worth $953,000 after purchasing an additional 100 shares during the period. 94.21% of the stock is owned by hedge funds and other institutional investors.
In other news, CFO Eric Ryan Shander sold 1,521 shares of the company’s stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $99.98, for a total transaction of $152,069.58. Following the transaction, the chief financial officer now directly owns 9,913 shares of the company’s stock, valued at approximately $991,101.74. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO James M. Whitehurst sold 12,000 shares of the company’s stock in a transaction on 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 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 ninety days, insiders have sold 44,087 shares of company stock worth $4,265,012. Corporate insiders own 0.66% of the company’s stock.
A number of equities research analysts recently commented on RHT shares. Oppenheimer Holdings, Inc. reissued 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 started coverage on shares of Red Hat in a research report on Friday, June 23rd. They set a “neutral” rating and a $100.00 target price for the company. Zacks Investment Research cut shares of Red Hat from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 22nd. MKM Partners reissued a “neutral” rating and set a $98.00 target price (up previously from $82.00) on shares of Red Hat in a research report on Friday, June 23rd. Finally, Goldman Sachs Group, Inc. (The) increased their target price on shares of Red Hat from $85.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday, June 21st. Eleven investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $99.80.
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Red Hat, Inc. (NYSE:RHT) opened at 107.12 on Monday. The firm’s 50-day moving average is $101.79 and its 200 day moving average is $91.94. Red Hat, Inc. has a 12-month low of $68.54 and a 12-month high of $108.09. The stock has a market capitalization of $19.01 billion, a P/E ratio of 73.37 and a beta of 1.24.
Red Hat (NYSE:RHT) last posted its quarterly earnings results on Tuesday, June 20th. The open-source software company reported $0.56 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.03. Red Hat had a net margin of 10.54% and a return on equity of 22.84%. The business had revenue of $677 million for the quarter, compared to analysts’ expectations of $647.42 million. During the same period in the prior year, the company posted $0.50 EPS. The business’s revenue for the quarter was up 19.2% on a year-over-year basis. Equities analysts expect that Red Hat, Inc. will post $2.69 EPS for the current year.
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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