Cornerstone Capital Management Holdings LLC. cut its stake in Red Hat Software (NYSE:RHT) by 52.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 48,565 shares of the open-source software company’s stock after selling 53,990 shares during the period. Cornerstone Capital Management Holdings LLC.’s holdings in Red Hat Software were worth $5,831,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. Elkfork Partners LLC grew its position in Red Hat Software by 170.9% in the 4th quarter. Elkfork Partners LLC now owns 13,648 shares of the open-source software company’s stock worth $1,639,000 after purchasing an additional 8,610 shares during the period. Hanseatic Management Services Inc. bought a new stake in shares of Red Hat Software during the 4th quarter valued at $582,000. Avestar Capital LLC bought a new position in Red Hat Software in the 4th quarter worth $168,000. Ellington Management Group LLC boosted its holdings in Red Hat Software by 33.3% in the 4th quarter. Ellington Management Group LLC now owns 4,400 shares of the open-source software company’s stock worth $528,000 after buying an additional 1,100 shares during the period. Finally, Guggenheim Capital LLC boosted its holdings in Red Hat Software by 14.8% in the 4th quarter. Guggenheim Capital LLC now owns 822,791 shares of the open-source software company’s stock worth $98,818,000 after buying an additional 105,914 shares during the period. Institutional investors and hedge funds own 95.74% of the company’s stock.
In other Red Hat Software news, Director Charlene T. Begley sold 4,500 shares of the firm’s stock in a transaction dated Tuesday, April 10th. The shares were sold at an average price of $156.15, for a total transaction of $702,675.00. Following the sale, the director now directly owns 8,144 shares of the company’s stock, valued at approximately $1,271,685.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Delisa Alexander sold 1,393 shares of the stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $124.87, for a total transaction of $173,943.91. Following the transaction, the executive vice president now owns 36,420 shares in the company, valued at $4,547,765.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 34,186 shares of company stock worth $4,879,717. 0.66% of the stock is owned by corporate insiders.
Red Hat Software stock traded up $2.80 during trading hours on Thursday, reaching $159.20. 1,993,544 shares of the stock were exchanged, compared to its average volume of 1,852,296. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.37 and a current ratio of 1.36. Red Hat Software has a 52-week low of $84.16 and a 52-week high of $167.36. The company has a market cap of $27,745.42, a P/E ratio of 69.22, a PEG ratio of 3.95 and a beta of 1.07.
Red Hat Software (NYSE:RHT) last posted its quarterly earnings results on Monday, March 26th. The open-source software company reported $0.91 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.10. The business had revenue of $772.00 million for the quarter, compared to analysts’ expectations of $761.87 million. Red Hat Software had a net margin of 8.86% and a return on equity of 29.36%. The business’s revenue for the quarter was up 22.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.61 EPS. equities analysts predict that Red Hat Software will post 2.52 earnings per share for the current year.
RHT has been the subject of several recent analyst reports. Northland Securities reaffirmed a “buy” rating and issued a $150.00 target price on shares of Red Hat Software in a report on Thursday, December 21st. Oppenheimer reiterated a “buy” rating and issued a $140.00 price target (up previously from $125.00) on shares of Red Hat Software in a research note on Wednesday, December 20th. Deutsche Bank reiterated a “buy” rating and set a $150.00 price objective on shares of Red Hat Software in a research note on Wednesday, December 20th. Wells Fargo set a $144.00 price objective on shares of Red Hat Software and gave the company a “buy” rating in a research note on Wednesday, December 20th. Finally, BTIG Research increased their price objective on shares of Red Hat Software from $120.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, December 20th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and twenty-four have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $152.82.
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About Red Hat Software
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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