Red Hat, Inc. (RHT) Shares Bought by Princeton Capital Management Inc.
Princeton Capital Management Inc. lifted its stake in Red Hat, Inc. (NYSE:RHT) by 14.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,214 shares of the open-source software company’s stock after acquiring an additional 1,515 shares during the quarter. Princeton Capital Management Inc.’s holdings in Red Hat were worth $1,354,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Red Hat by 2.8% in the second quarter. Vanguard Group Inc. now owns 17,627,522 shares of the open-source software company’s stock worth $1,687,836,000 after acquiring an additional 479,615 shares during the period. FMR LLC grew its position in Red Hat by 10.8% during the second quarter. FMR LLC now owns 11,165,642 shares of the open-source software company’s stock valued at $1,069,110,000 after buying an additional 1,085,953 shares during the period. Northern Trust Corp grew its position in Red Hat by 28.8% during the second quarter. Northern Trust Corp now owns 3,794,946 shares of the open-source software company’s stock valued at $363,365,000 after buying an additional 848,777 shares during the period. TIAA CREF Investment Management LLC grew its position in Red Hat by 34.4% during the second quarter. TIAA CREF Investment Management LLC now owns 1,302,954 shares of the open-source software company’s stock valued at $124,758,000 after buying an additional 333,408 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its position in Red Hat by 282.6% during the second quarter. Arrowstreet Capital Limited Partnership now owns 1,177,208 shares of the open-source software company’s stock valued at $112,718,000 after buying an additional 869,550 shares during the period. Hedge funds and other institutional investors own 95.14% of the company’s stock.
Red Hat, Inc. (NYSE:RHT) traded down $1.42 during mid-day trading on Thursday, reaching $122.50. 470,306 shares of the company’s stock were exchanged, compared to its average volume of 1,301,747. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.30 and a quick ratio of 1.30. The company has a market capitalization of $21,736.87, a PE ratio of 66.99, a price-to-earnings-growth ratio of 3.87 and a beta of 1.18. Red Hat, Inc. has a fifty-two week low of $68.54 and a fifty-two week high of $124.45.
Red Hat (NYSE:RHT) last posted its quarterly earnings results on Monday, September 25th. The open-source software company reported $0.77 EPS for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.10. The firm had revenue of $723.60 million for the quarter, compared to analysts’ expectations of $699.56 million. Red Hat had a net margin of 11.49% and a return on equity of 25.27%. The business’s revenue for the quarter was up 20.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.55 earnings per share. equities research analysts forecast that Red Hat, Inc. will post 2 earnings per share for the current fiscal year.
In other news, CEO James M. Whitehurst sold 4,211 shares of the company’s stock in a transaction dated Tuesday, October 17th. The shares were sold at an average price of $120.36, for a total value of $506,835.96. Following the transaction, the chief executive officer now directly owns 380,158 shares in the company, valued at $45,755,816.88. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Michael A. Kelly sold 2,888 shares of the company’s stock in a transaction dated Wednesday, October 18th. The stock was sold at an average price of $121.03, for a total transaction of $349,534.64. Following the completion of the transaction, the insider now owns 8,751 shares in the company, valued at $1,059,133.53. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,172 shares of company stock worth $3,926,377. Company insiders own 0.66% of the company’s stock.
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Several brokerages recently issued reports on RHT. Deutsche Bank AG restated a “buy” rating and set a $120.00 target price (up from $110.00) on shares of Red Hat in a research report on Tuesday, September 26th. Wells Fargo & Company reiterated an “outperform” rating and issued a $120.00 price target (up from $115.00) on shares of Red Hat in a research report on Tuesday, September 19th. Robert W. Baird reiterated a “hold” rating on shares of Red Hat in a research report on Tuesday, September 26th. Cowen and Company reiterated an “outperform” rating and issued a $120.00 price target on shares of Red Hat in a research report on Sunday, September 24th. Finally, Drexel Hamilton reiterated a “buy” rating and issued a $130.00 price target (up from $127.00) on shares of Red Hat in a research report on Monday, September 25th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and twenty-four have assigned a buy rating to the company’s stock. Red Hat presently has an average rating of “Buy” and a consensus price target of $110.93.
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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