Bronfman E.L. Rothschild L.P. grew its stake in shares of Red Hat Inc (NYSE:RHT) by 8.9% during the 4th quarter, HoldingsChannel reports. The fund owned 1,803 shares of the open-source software company’s stock after buying an additional 147 shares during the period. Bronfman E.L. Rothschild L.P.’s holdings in Red Hat were worth $317,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors also recently bought and sold shares of the company. Legal & General Group Plc lifted its position in shares of Red Hat by 1.6% during the third quarter. Legal & General Group Plc now owns 804,809 shares of the open-source software company’s stock worth $109,673,000 after acquiring an additional 12,629 shares in the last quarter. Vanguard Group Inc lifted its position in shares of Red Hat by 0.6% during the third quarter. Vanguard Group Inc now owns 18,703,926 shares of the open-source software company’s stock worth $2,548,970,000 after acquiring an additional 103,057 shares in the last quarter. Havens Advisors LLC purchased a new stake in shares of Red Hat during the fourth quarter worth $12,352,000. Scout Investments Inc. lifted its position in shares of Red Hat by 48.2% during the fourth quarter. Scout Investments Inc. now owns 186,958 shares of the open-source software company’s stock worth $32,837,000 after acquiring an additional 60,780 shares in the last quarter. Finally, Kentucky Retirement Systems purchased a new stake in shares of Red Hat during the third quarter worth $877,000. Hedge funds and other institutional investors own 88.27% of the company’s stock.
RHT has been the topic of a number of recent analyst reports. Monness Crespi & Hardt reiterated a “buy” rating and issued a $190.00 price objective (up previously from $186.00) on shares of Red Hat in a research report on Monday, December 10th. Zacks Investment Research upgraded Red Hat from a “hold” rating to a “buy” rating and set a $194.00 price objective on the stock in a research report on Monday, December 31st. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $166.54.
Red Hat (NYSE:RHT) last released its earnings results on Monday, December 17th. The open-source software company reported $0.96 EPS for the quarter, beating the Zacks’ consensus estimate of $0.87 by $0.09. The business had revenue of $847.00 million for the quarter, compared to analysts’ expectations of $852.79 million. Red Hat had a return on equity of 33.96% and a net margin of 8.66%. The firm’s revenue was up 13.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.73 earnings per share. On average, analysts predict that Red Hat Inc will post 2.63 EPS for the current year.
In related news, EVP Michael Cunningham sold 25,000 shares of the stock in a transaction on Thursday, February 7th. The stock was sold at an average price of $178.79, for a total value of $4,469,750.00. Following the transaction, the executive vice president now owns 25,071 shares of the company’s stock, valued at $4,482,444.09. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.58% of the stock is owned by corporate insiders.
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Red Hat Company Profile
Red Hat, Inc provides open source software solutions to develop and offer operating system, virtualization, management, middleware, cloud, mobile, and storage technologies to various enterprises worldwide. It offers infrastructure-related solutions, such as Red Hat Enterprise Linux, an operating system platform that runs on hardware for use in hybrid cloud environments; Red Hat Satellite, a system management offering that helps to deploy, scale, and manage in hybrid cloud environments; and Red Hat Enterprise Virtualization, a software solution that allows customers to utilize and manage a common hardware infrastructure to run multiple operating systems and applications.
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