YorkBridge Wealth Partners LLC Sells 249 Shares of Red Hat Inc (NYSE:RHT)

YorkBridge Wealth Partners LLC trimmed its stake in shares of Red Hat Inc (NYSE:RHT) by 24.2% during the second quarter, HoldingsChannel.com reports. The firm owned 778 shares of the open-source software company’s stock after selling 249 shares during the quarter. YorkBridge Wealth Partners LLC’s holdings in Red Hat were worth $146,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in RHT. Liberty Wealth Management LLC purchased a new position in shares of Red Hat in the 4th quarter worth about $30,000. Advisory Alpha LLC purchased a new position in shares of Red Hat in the 1st quarter worth about $32,000. Glassman Wealth Services boosted its holdings in shares of Red Hat by 58.0% in the 1st quarter. Glassman Wealth Services now owns 207 shares of the open-source software company’s stock worth $38,000 after purchasing an additional 76 shares in the last quarter. Cornerstone Advisors Inc. boosted its holdings in shares of Red Hat by 26.4% in the 1st quarter. Cornerstone Advisors Inc. now owns 297 shares of the open-source software company’s stock worth $54,000 after purchasing an additional 62 shares in the last quarter. Finally, Trustcore Financial Services LLC purchased a new position in shares of Red Hat in the 1st quarter worth about $73,000. Institutional investors own 85.75% of the company’s stock.

A number of research firms have recently issued reports on RHT. William Blair reiterated a “buy” rating on shares of Dynavax Technologies in a report on Friday, June 21st. Robert W. Baird cut their price objective on Bed Bath & Beyond from $18.00 to $13.00 and set a “neutral” rating for the company in a report on Thursday, July 11th. Eleven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $179.37.

RHT stock remained flat at $$187.71 during trading on Wednesday. The company had a trading volume of 999,351 shares, compared to its average volume of 1,591,676. The company has a market capitalization of $33.43 billion, a price-to-earnings ratio of 67.28, a price-to-earnings-growth ratio of 3.98 and a beta of 0.45. Red Hat Inc has a 52 week low of $115.31 and a 52 week high of $189.14. The firm’s 50-day moving average price is $187.41. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.23 and a quick ratio of 1.23.

Red Hat (NYSE:RHT) last issued its earnings results on Thursday, June 20th. The open-source software company reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.14. The company had revenue of $934.10 million during the quarter, compared to analysts’ expectations of $931.58 million. Red Hat had a return on equity of 36.67% and a net margin of 13.26%. Red Hat’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.72 EPS. On average, equities analysts expect that Red Hat Inc will post 3.14 EPS for the current year.

About Red Hat

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

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