Koch Industries Inc. purchased a new position in shares of Red Hat Inc (NYSE:RHT) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 3,397 shares of the open-source software company’s stock, valued at approximately $408,000.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. MML Investors Services LLC raised its position in shares of Red Hat by 28.2% during the fourth quarter. MML Investors Services LLC now owns 3,431 shares of the open-source software company’s stock worth $412,000 after purchasing an additional 755 shares during the period. Sanctuary Wealth Advisors LLC bought a new position in shares of Red Hat during the fourth quarter worth about $3,480,000. Amundi Pioneer Asset Management Inc. bought a new position in shares of Red Hat during the fourth quarter worth about $13,010,000. Alliancebernstein L.P. grew its holdings in shares of Red Hat by 5.3% during the fourth quarter. Alliancebernstein L.P. now owns 330,830 shares of the open-source software company’s stock worth $39,733,000 after buying an additional 16,574 shares in the last quarter. Finally, USA Financial Portformulas Corp bought a new position in shares of Red Hat during the fourth quarter worth about $3,672,000. 95.74% of the stock is currently owned by institutional investors.
A number of research analysts recently issued reports on the company. Evercore ISI reiterated a “buy” rating and set a $140.00 price objective on shares of Red Hat in a report on Friday, February 2nd. Nomura assumed coverage on Red Hat in a report on Tuesday, January 23rd. They set a “buy” rating and a $152.00 price objective for the company. Zacks Investment Research downgraded Red Hat from a “buy” rating to a “hold” rating in a report on Wednesday, December 27th. Northland Securities reiterated a “buy” rating and set a $150.00 price objective on shares of Red Hat in a report on Thursday, December 21st. Finally, Jefferies Group reiterated a “hold” rating and set a $119.00 price objective on shares of Red Hat in a report on Thursday, December 21st. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and twenty-three have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $126.65.
Red Hat (NYSE:RHT) last released its quarterly earnings data on Tuesday, December 19th. The open-source software company reported $0.73 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate 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 during the quarter, compared to analysts’ expectations of $734.69 million. During the same period last year, the firm posted $0.61 earnings per share. The business’s revenue was up 21.6% on a year-over-year basis. sell-side analysts anticipate that Red Hat Inc will post 2.08 EPS for the current year.
In related news, CEO James M. Whitehurst sold 5,593 shares of Red Hat stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 373,506 shares of the company’s stock, valued at approximately $46,639,694.22. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director William S. Kaiser sold 7,700 shares of Red Hat stock in a transaction that occurred 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 sale, the director now directly owns 61,652 shares of the company’s stock, valued at $8,014,760. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,686 shares of company stock valued at $1,873,342. Insiders own 0.66% of the company’s stock.
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Red Hat 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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