Diversified Trust Co continued to hold its stake in Red Hat Inc. (NYSE:RHT) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,625 shares of the open-source software company’s stock at the end of the second quarter. Diversified Trust Co’s holdings in Red Hat were worth $336,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Hills Bank & Trust Co. acquired a new stake in Red Hat during the second quarter valued at about $222,000. Acrospire Investment Management LLC acquired a new stake in Red Hat during the first quarter valued at about $261,000. Creative Planning boosted its stake in Red Hat by 4.5% in the second quarter. Creative Planning now owns 4,019 shares of the open-source software company’s stock valued at $292,000 after buying an additional 174 shares during the last quarter. Mn Services Vermogensbeheer B.V. acquired a new stake in Red Hat during the first quarter valued at about $297,000. Finally, YHB Investment Advisors Inc. acquired a new stake in Red Hat during the second quarter valued at about $302,000. 94.81% of the stock is currently owned by institutional investors.
Shares of Red Hat Inc. (NYSE:RHT) traded up 1.83% during mid-day trading on Wednesday, reaching $80.56. 2,186,265 shares of the company’s stock traded hands. The company’s 50 day moving average is $74.71 and its 200 day moving average is $74.48. The company has a market cap of $14.53 billion, a P/E ratio of 67.75 and a beta of 1.32. Red Hat Inc. has a 12-month low of $59.59 and a 12-month high of $84.44.
Red Hat (NYSE:RHT) last posted its quarterly earnings results on Wednesday, September 21st. The open-source software company reported $0.55 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.54 by $0.01. The business earned $599.80 million during the quarter. Red Hat had a net margin of 9.84% and a return on equity of 18.93%. The company’s quarterly revenue was up 19.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.47 EPS. On average, analysts predict that Red Hat Inc. will post $2.24 EPS for the current fiscal year.
Several research firms recently issued reports on RHT. Robert W. Baird raised their target price on Red Hat from $85.00 to $90.00 and gave the stock an “outperform” rating in a research note on Friday, September 23rd. Zacks Investment Research raised Red Hat from a “hold” rating to a “buy” rating and set a $89.00 target price on the stock in a research note on Wednesday. BMO Capital Markets restated an “outperform” rating and issued a $85.00 price objective (down from $88.00) on shares of Red Hat in a report on Thursday, June 23rd. Mizuho restated a “buy” rating and issued a $88.00 price objective on shares of Red Hat in a report on Wednesday, September 21st. Finally, Stifel Nicolaus restated a “buy” rating on shares of Red Hat in a report on Thursday, June 23rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-four have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $89.16.
In other Red Hat news, EVP Delisa Alexander sold 2,395 shares of the firm’s stock in a transaction on Tuesday, July 19th. The shares were sold at an average price of $72.83, for a total value of $174,427.85. Following the completion of the transaction, the executive vice president now owns 60,780 shares of the company’s stock, valued at $4,426,607.40. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Michael Cunningham sold 10,000 shares of the firm’s stock in a transaction on Tuesday, July 26th. The stock was sold at an average price of $75.00, for a total transaction of $750,000.00. Following the completion of the transaction, the executive vice president now directly owns 52,484 shares of the company’s stock, valued at approximately $3,936,300. The disclosure for this sale can be found here. 0.76% of the stock is currently owned by company 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.
Want to see what other hedge funds are holding RHT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Red Hat Inc. (NYSE:RHT).
Receive News & Ratings for Red Hat Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Red Hat Inc. and related companies with MarketBeat.com's FREE daily email newsletter.