Rhumbline Advisers Raises Holdings in Red Hat Inc (RHT)

Rhumbline Advisers boosted its position in shares of Red Hat Inc (NYSE:RHT) by 1.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 339,975 shares of the open-source software company’s stock after acquiring an additional 5,044 shares during the quarter. Rhumbline Advisers’ holdings in Red Hat were worth $40,831,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Red Hat by 41.4% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 8,347 shares of the open-source software company’s stock valued at $1,002,000 after buying an additional 2,445 shares during the period. Arizona State Retirement System lifted its holdings in shares of Red Hat by 22.8% in the 4th quarter. Arizona State Retirement System now owns 67,101 shares of the open-source software company’s stock valued at $8,059,000 after buying an additional 12,465 shares during the period. Pinebridge Investments L.P. lifted its holdings in shares of Red Hat by 3,131.4% in the 4th quarter. Pinebridge Investments L.P. now owns 8,531 shares of the open-source software company’s stock valued at $1,024,000 after buying an additional 8,267 shares during the period. State of Wisconsin Investment Board lifted its holdings in shares of Red Hat by 7.0% in the 4th quarter. State of Wisconsin Investment Board now owns 282,467 shares of the open-source software company’s stock valued at $33,924,000 after buying an additional 18,382 shares during the period. Finally, Global X Management Co. LLC lifted its holdings in shares of Red Hat by 48.2% in the 4th quarter. Global X Management Co. LLC now owns 2,498 shares of the open-source software company’s stock valued at $300,000 after buying an additional 813 shares during the period. 95.61% of the stock is owned by institutional investors.

Red Hat Inc (NYSE RHT) opened at $142.71 on Tuesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.37 and a current ratio of 1.37. Red Hat Inc has a 52 week low of $80.93 and a 52 week high of $143.67. The company has a market capitalization of $25,260.29, a price-to-earnings ratio of 73.56, a price-to-earnings-growth ratio of 4.36 and a beta of 1.23.

Red Hat (NYSE:RHT) last released its quarterly earnings results on Tuesday, December 19th. The open-source software company reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.03. Red Hat had a return on equity of 26.23% and a net margin of 12.14%. The company had revenue of $747.98 million for the quarter, compared to analysts’ expectations of $734.69 million. During the same period in the prior year, the firm earned $0.61 earnings per share. The firm’s revenue was up 21.6% compared to the same quarter last year. sell-side analysts predict that Red Hat Inc will post 2.08 EPS for the current fiscal year.

In other Red Hat news, CEO James M. Whitehurst sold 5,593 shares of the company’s stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $124.87, for a total transaction of $698,397.91. Following the transaction, the chief executive officer now directly owns 373,506 shares in the company, valued at $46,639,694.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William S. Kaiser sold 7,700 shares of the company’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $130.00, for a total value of $1,001,000.00. Following the transaction, the director now owns 61,652 shares in the company, valued at $8,014,760. The disclosure for this sale can be found here. Insiders have sold 14,686 shares of company stock worth $1,873,342 over the last 90 days. 0.66% of the stock is owned by insiders.

Several equities analysts have recently issued reports on RHT shares. Zacks Investment Research cut Red Hat from a “buy” rating to a “hold” rating in a report on Wednesday, December 27th. Northland Securities reaffirmed a “buy” rating and issued a $150.00 price target on shares of Red Hat in a report on Thursday, December 21st. Mizuho upped their price target on Red Hat from $125.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, December 13th. Credit Suisse Group reaffirmed a “neutral” rating and issued a $120.00 price target (up previously from $113.00) on shares of Red Hat in a report on Wednesday, December 20th. Finally, Bank of America reaffirmed an “underperform” rating and issued a $115.00 price target on shares of Red Hat in a report on Tuesday, October 24th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and twenty-three have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $126.65.

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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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