Toronto Dominion Bank lifted its stake in shares of Red Hat Inc (NYSE:RHT) by 25.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 95,409 shares of the open-source software company’s stock after purchasing an additional 19,159 shares during the quarter. Toronto Dominion Bank owned 0.05% of Red Hat worth $14,261,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in RHT. Creative Planning increased its position in shares of Red Hat by 31.3% in the 4th quarter. Creative Planning now owns 8,205 shares of the open-source software company’s stock valued at $985,000 after acquiring an additional 1,954 shares during the period. Schwab Charles Investment Management Inc. raised its position in shares of Red Hat by 1.7% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 680,404 shares of the open-source software company’s stock valued at $81,717,000 after buying an additional 11,248 shares during the last quarter. SG Americas Securities LLC raised its position in shares of Red Hat by 14.9% in the fourth quarter. SG Americas Securities LLC now owns 29,092 shares of the open-source software company’s stock valued at $3,494,000 after buying an additional 3,768 shares during the last quarter. APG Asset Management N.V. raised its position in shares of Red Hat by 19.4% in the fourth quarter. APG Asset Management N.V. now owns 154,177 shares of the open-source software company’s stock valued at $15,420,000 after buying an additional 25,042 shares during the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in shares of Red Hat in the fourth quarter valued at approximately $6,220,000. 95.52% of the stock is currently owned by institutional investors.
Get Red Hat alerts:A number of equities analysts have recently weighed in on RHT shares. Zacks Investment Research raised shares of Red Hat from a “hold” rating to a “buy” rating and set a $173.00 price objective for the company in a research report on Thursday, March 29th. Royal Bank of Canada upped their price target on Red Hat to $160.00 and gave the company an “outperform” rating in a research report on Wednesday, March 21st. Deutsche Bank upped their price target on Red Hat from $150.00 to $170.00 and gave the company a “buy” rating in a research report on Tuesday, March 27th. Morgan Stanley upped their price target on Red Hat from $130.00 to $150.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 27th. Finally, Barclays upped their price target on Red Hat from $145.00 to $165.00 and gave the company an “overweight” rating in a research report on Monday, March 19th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $156.76.
In related news, CEO James M. Whitehurst sold 20,529 shares of the business’s stock in a transaction that occurred on Monday, April 30th. The shares were sold at an average price of $164.23, for a total value of $3,371,477.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO James M. Whitehurst sold 4,422 shares of the business’s stock in a transaction that occurred on Tuesday, April 17th. The stock was sold at an average price of $161.32, for a total transaction of $713,357.04. Following the completion of the transaction, the chief executive officer now directly owns 346,645 shares of the company’s stock, valued at approximately $55,920,771.40. The disclosure for this sale can be found here. Insiders sold 107,376 shares of company stock valued at $17,167,724 in the last three months. 0.66% of the stock is currently owned by insiders.
Red Hat opened at $165.10 on Monday, MarketBeat Ratings reports. Red Hat Inc has a twelve month low of $86.26 and a twelve month high of $173.58. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.36 and a quick ratio of 1.36. The company has a market cap of $29.33 billion, a P/E ratio of 71.78, a P/E/G ratio of 4.10 and a beta of 1.07.
Red Hat (NYSE:RHT) last posted its quarterly earnings data on Monday, March 26th. The open-source software company reported $0.91 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.10. The company had revenue of $772.00 million during the quarter, compared to analyst estimates of $761.87 million. Red Hat had a return on equity of 29.36% and a net margin of 8.86%. The firm’s revenue for the quarter was up 22.8% on a year-over-year basis. During the same quarter last year, the company earned $0.61 EPS. equities research analysts forecast that Red Hat Inc will post 2.52 earnings per share for the current fiscal 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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