Huntington National Bank continued to hold its position in shares of Red Hat Inc. (NYSE:RHT) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,029 shares of the open-source software company’s stock at the end of the second quarter. Huntington National Bank’s holdings in Red Hat were worth $154,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of RHT. Aperio Group LLC boosted its position in shares of Red Hat by 10.1% in the first quarter. Aperio Group LLC now owns 44,483 shares of the open-source software company’s stock valued at $3,314,000 after buying an additional 4,079 shares during the period. Virginia Retirement System acquired a new position in shares of Red Hat during the first quarter valued at about $705,000. BlackRock Group LTD boosted its position in shares of Red Hat by 4.6% in the first quarter. BlackRock Group LTD now owns 1,416,051 shares of the open-source software company’s stock valued at $105,510,000 after buying an additional 61,955 shares during the period. BlackRock Institutional Trust Company N.A. boosted its position in shares of Red Hat by 2.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 4,695,624 shares of the open-source software company’s stock valued at $349,871,000 after buying an additional 109,046 shares during the period. Finally, BlackRock Japan Co. Ltd boosted its position in shares of Red Hat by 0.3% in the first quarter. BlackRock Japan Co. Ltd now owns 234,954 shares of the open-source software company’s stock valued at $17,506,000 after buying an additional 674 shares during the period. 94.81% of the stock is owned by hedge funds and other institutional investors.
Shares of Red Hat Inc. (NYSE:RHT) traded down 1.06% during midday trading on Thursday, hitting $78.59. 1,441,224 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $75.72 and its 200-day moving average is $74.77. The stock has a market cap of $14.17 billion, a PE ratio of 66.10 and a beta of 1.53. Red Hat Inc. has a 1-year low of $59.59 and a 1-year high of $84.44.
Red Hat (NYSE:RHT) last issued its quarterly earnings results on Wednesday, September 21st. The open-source software company reported $0.55 EPS for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.01. The company earned $599.80 million during the quarter. Red Hat had a return on equity of 18.93% and a net margin of 9.84%. The business’s revenue was up 19.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.47 earnings per share. Analysts predict that Red Hat Inc. will post $2.24 earnings per share for the current fiscal year.
RHT has been the subject of several recent research reports. Barclays PLC reissued an “overweight” rating and set a $90.00 target price on shares of Red Hat in a report on Wednesday, June 15th. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Red Hat in a report on Thursday, June 16th. Deutsche Bank AG reaffirmed a “buy” rating on shares of Red Hat in a report on Friday, June 17th. Drexel Hamilton reaffirmed a “buy” rating and issued a $105.00 price objective on shares of Red Hat in a report on Monday, June 20th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $85.00 price objective (down previously from $88.00) on shares of Red Hat in a report on Thursday, June 23rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-five have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $89.33.
In related news, Director General Henry Hugh Shelton sold 15,000 shares of the stock in a transaction that occurred on Friday, September 30th. The stock was sold at an average price of $80.70, for a total transaction of $1,210,500.00. Following the completion of the sale, the director now directly owns 9,026 shares of the company’s stock, valued at $728,398.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Delisa Alexander sold 2,395 shares of the stock in a transaction that occurred 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 sale, the executive vice president now directly owns 60,780 shares of the company’s stock, valued at $4,426,607.40. The disclosure for this sale can be found here. Corporate insiders own 0.76% 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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