Cpcm LLC Holds Stake in Red Hat, Inc. (RHT)

Cpcm LLC continued to hold its position in Red Hat, Inc. (NYSE:RHT) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,749 shares of the open-source software company’s stock at the end of the first quarter. Cpcm LLC’s holdings in Red Hat were worth $411,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the company. Caisse DE Depot ET Placement DU Quebec boosted its position in Red Hat by 6.9% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 17,104 shares of the open-source software company’s stock worth $1,481,000 after buying an additional 1,100 shares during the last quarter. Toronto Dominion Bank boosted its position in Red Hat by 55.3% in the first quarter. Toronto Dominion Bank now owns 48,126 shares of the open-source software company’s stock worth $4,163,000 after buying an additional 17,143 shares during the last quarter. Comerica Bank boosted its position in Red Hat by 0.7% in the first quarter. Comerica Bank now owns 103,913 shares of the open-source software company’s stock worth $9,160,000 after buying an additional 740 shares during the last quarter. First Midwest Bank Trust Division boosted its position in Red Hat by 31.6% in the first quarter. First Midwest Bank Trust Division now owns 10,886 shares of the open-source software company’s stock worth $942,000 after buying an additional 2,612 shares during the last quarter. Finally, Quantitative Investment Management LLC acquired a new position in Red Hat during the first quarter worth about $16,573,000. Hedge funds and other institutional investors own 95.49% of the company’s stock.

Shares of Red Hat, Inc. (RHT) traded down 1.08% during midday trading on Monday, hitting $98.35. The stock had a trading volume of 1,115,639 shares. The stock has a market cap of $17.43 billion, a PE ratio of 67.36 and a beta of 1.30. The stock’s 50-day moving average is $88.93 and its 200-day moving average is $82.49. Red Hat, Inc. has a 12 month low of $68.54 and a 12 month high of $100.50.

Red Hat (NYSE:RHT) last issued its quarterly earnings results on Tuesday, June 20th. The open-source software company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.03. The business had revenue of $677 million during the quarter, compared to analysts’ expectations of $647.42 million. Red Hat had a return on equity of 22.84% and a net margin of 10.54%. The business’s quarterly revenue was up 19.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.50 earnings per share. Equities analysts anticipate that Red Hat, Inc. will post $2.68 EPS for the current year.

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RHT has been the topic of a number of research analyst reports. Drexel Hamilton restated a “buy” rating and set a $105.00 price target on shares of Red Hat in a report on Friday, March 24th. Cowen and Company increased their price target on Red Hat from $88.00 to $93.00 and gave the stock an “outperform” rating in a report on Tuesday, March 28th. BTIG Research increased their price target on Red Hat from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, March 28th. William Blair restated an “outperform” rating on shares of Red Hat in a report on Wednesday, March 22nd. Finally, BMO Capital Markets increased their price target on Red Hat from $75.00 to $90.00 and gave the stock a “market perform” rating in a report on Tuesday, March 28th. Nine equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $99.02.

In other Red Hat news, EVP Paul J. Cormier sold 26,462 shares of the company’s stock in a transaction dated Thursday, June 8th. The stock was sold at an average price of $91.57, for a total value of $2,423,125.34. Following the completion of the sale, the executive vice president now owns 189,578 shares in the company, valued at $17,359,657.46. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Arun Oberoi sold 30,000 shares of the company’s stock in a transaction dated Friday, April 28th. The stock was sold at an average price of $87.48, for a total value of $2,624,400.00. Following the completion of the sale, the executive vice president now owns 85,660 shares of the company’s stock, valued at approximately $7,493,536.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 301,336 shares of company stock valued at $26,596,492. Company insiders own 0.66% of the company’s stock.

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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Institutional Ownership by Quarter for Red Hat (NYSE:RHT)

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