Red Hat, Inc. (RHT) Position Increased by SG Americas Securities LLC
SG Americas Securities LLC boosted its stake in shares of Red Hat, Inc. (NYSE:RHT) by 47.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,324 shares of the open-source software company’s stock after purchasing an additional 8,193 shares during the quarter. SG Americas Securities LLC’s holdings in Red Hat were worth $2,807,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. D.A. Davidson & CO. raised its stake in Red Hat by 6.8% during the 2nd quarter. D.A. Davidson & CO. now owns 1,071 shares of the open-source software company’s stock valued at $102,000 after purchasing an additional 68 shares during the last quarter. Clear Perspective Advisors LLC acquired a new position in Red Hat during the 2nd quarter valued at $112,000. Sun Life Financial INC raised its stake in Red Hat by 14,837.5% during the 2nd quarter. Sun Life Financial INC now owns 1,195 shares of the open-source software company’s stock valued at $114,000 after purchasing an additional 1,187 shares during the last quarter. Shine Investment Advisory Services Inc. acquired a new position in Red Hat during the 2nd quarter valued at $117,000. Finally, State of Alaska Department of Revenue acquired a new position in Red Hat during the 2nd quarter valued at $122,000. Hedge funds and other institutional investors own 96.04% of the company’s stock.
In other Red Hat news, Director Eugene Beukman sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $0.73, for a total transaction of $73,000.00. Also, CEO James M. Whitehurst sold 12,000 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $111.15, for a total transaction of $1,333,800.00. Following the sale, the chief executive officer now owns 392,979 shares in the company, valued at $43,679,615.85. The disclosure for this sale can be found here. Insiders have sold a total of 234,172 shares of company stock worth $4,072,377 over the last 90 days. Corporate insiders own 0.66% of the company’s stock.
RHT has been the subject of several research analyst reports. Barclays PLC upped their target price on shares of Red Hat from $105.00 to $120.00 and gave the company an “overweight” rating in a research note on Monday, September 18th. Bank of America Corporation restated a “neutral” rating and issued a $115.00 price objective (up previously from $105.00) on shares of Red Hat in a research note on Tuesday, September 26th. Wells Fargo & Company restated an “outperform” rating and issued a $124.00 price objective (up previously from $120.00) on shares of Red Hat in a research note on Wednesday, September 27th. Credit Suisse Group restated a “neutral” rating and issued a $113.00 price objective (up previously from $111.00) on shares of Red Hat in a research note on Tuesday, September 26th. Finally, Zacks Investment Research cut shares of Red Hat from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 22nd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and twenty-four have issued a buy rating to the company. Red Hat currently has a consensus rating of “Buy” and an average target price of $110.93.
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Shares of Red Hat, Inc. (RHT) opened at $128.51 on Wednesday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.30 and a current ratio of 1.30. The company has a market cap of $22,642.58, a P/E ratio of 69.78, a price-to-earnings-growth ratio of 4.04 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 $129.23.
Red Hat (NYSE:RHT) last announced its earnings results on Monday, September 25th. The open-source software company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.67 by $0.10. The firm had revenue of $723.60 million for the quarter, compared to the consensus estimate of $699.56 million. Red Hat had a net margin of 11.49% and a return on equity of 25.27%. The business’s quarterly revenue was up 20.6% on a year-over-year basis. During the same period last year, the company posted $0.55 EPS. equities analysts anticipate that Red Hat, Inc. will post 2 earnings per share for the current fiscal year.
Red Hat 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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