Argentiere Capital AG acquired a new stake in Red Hat Inc (NYSE:RHT) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 20,000 shares of the open-source software company’s stock, valued at approximately $3,513,000. Red Hat comprises about 1.1% of Argentiere Capital AG’s portfolio, making the stock its 10th biggest position.
A number of other hedge funds have also made changes to their positions in RHT. Private Advisor Group LLC boosted its stake in Red Hat by 28.5% in the third quarter. Private Advisor Group LLC now owns 5,307 shares of the open-source software company’s stock valued at $723,000 after acquiring an additional 1,178 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in Red Hat by 13.7% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 11,438 shares of the open-source software company’s stock valued at $1,559,000 after acquiring an additional 1,378 shares during the last quarter. Bessemer Group Inc. boosted its stake in Red Hat by 71.5% in the third quarter. Bessemer Group Inc. now owns 2,315 shares of the open-source software company’s stock valued at $315,000 after acquiring an additional 965 shares during the last quarter. Candriam Luxembourg S.C.A. boosted its stake in Red Hat by 252.1% in the third quarter. Candriam Luxembourg S.C.A. now owns 48,629 shares of the open-source software company’s stock valued at $6,627,000 after acquiring an additional 34,819 shares during the last quarter. Finally, MML Investors Services LLC boosted its stake in Red Hat by 50.4% in the third quarter. MML Investors Services LLC now owns 5,982 shares of the open-source software company’s stock valued at $815,000 after acquiring an additional 2,005 shares during the last quarter. 88.56% of the stock is currently owned by hedge funds and other institutional investors.
In related news, EVP Michael Cunningham sold 25,000 shares of the firm’s stock in a transaction on Thursday, February 7th. The shares were sold at an average price of $178.79, for a total transaction of $4,469,750.00. Following the sale, the executive vice president now directly owns 25,071 shares in the company, valued at $4,482,444.09. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.58% of the company’s stock.
Shares of NYSE:RHT opened at $181.78 on Monday. Red Hat Inc has a 12 month low of $115.31 and a 12 month high of $183.54. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.23. The firm has a market cap of $32.13 billion, a P/E ratio of 79.03, a P/E/G ratio of 4.02 and a beta of 0.55.
Red Hat (NYSE:RHT) last issued its quarterly earnings data on Monday, December 17th. The open-source software company reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.09. Red Hat had a net margin of 8.66% and a return on equity of 33.96%. The business had revenue of $847.00 million for the quarter, compared to analyst estimates of $852.79 million. During the same period last year, the business posted $0.73 earnings per share. The firm’s quarterly revenue was up 13.2% on a year-over-year basis. Research analysts predict that Red Hat Inc will post 2.63 earnings per share for the current fiscal year.
RHT has been the topic of a number of recent research reports. Zacks Investment Research raised shares of Red Hat from a “hold” rating to a “buy” rating and set a $194.00 price objective on the stock in a research note on Monday, December 31st. Monness Crespi & Hardt reiterated a “buy” rating and issued a $190.00 target price (up from $186.00) on shares of Red Hat in a report on Monday, December 10th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Red Hat presently has an average rating of “Hold” and an average target price of $166.54.
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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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