Cipher Capital LP Invests $4.82 Million in Red Hat, Inc. (RHT) Stock
Cipher Capital LP acquired a new position in shares of Red Hat, Inc. (NYSE:RHT) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm acquired 43,468 shares of the open-source software company’s stock, valued at approximately $4,819,000.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in RHT. D.A. Davidson & CO. increased its holdings in Red Hat by 6.8% during the 2nd quarter. D.A. Davidson & CO. now owns 1,071 shares of the open-source software company’s stock worth $102,000 after purchasing an additional 68 shares during the period. Clear Perspective Advisors LLC purchased a new position in Red Hat during the 2nd quarter worth $112,000. Sun Life Financial INC increased its holdings in Red Hat by 14,837.5% during the 2nd quarter. Sun Life Financial INC now owns 1,195 shares of the open-source software company’s stock worth $114,000 after purchasing an additional 1,187 shares during the period. Shine Investment Advisory Services Inc. purchased a new position in Red Hat during the 2nd quarter worth $117,000. Finally, State of Alaska Department of Revenue purchased a new position in Red Hat during the 2nd quarter worth $122,000. Institutional investors own 95.42% of the company’s stock.
In other Red Hat news, insider Michael A. Kelly sold 2,888 shares of Red Hat stock in a transaction dated Wednesday, October 18th. The stock was sold at an average price of $121.03, for a total transaction of $349,534.64. Following the completion of the transaction, the insider now owns 8,751 shares in the company, valued at approximately $1,059,133.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Eugene Beukman sold 100,000 shares of Red Hat stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $0.73, for a total value of $73,000.00. Insiders have sold a total of 234,172 shares of company stock valued at $4,072,377 in the last quarter. Company insiders own 0.66% of the company’s stock.
Several research analysts have commented on the company. Deutsche Bank AG restated a “buy” rating and set a $120.00 price objective (up from $110.00) on shares of Red Hat in a report on Tuesday, September 26th. Wells Fargo & Company restated an “outperform” rating and set a $120.00 price objective (up from $115.00) on shares of Red Hat in a report on Tuesday, September 19th. Robert W. Baird restated a “hold” rating on shares of Red Hat in a report on Tuesday, September 26th. Cowen and Company restated an “outperform” rating and set a $120.00 price objective on shares of Red Hat in a report on Sunday, September 24th. Finally, Drexel Hamilton restated a “buy” rating and set a $130.00 price objective (up from $127.00) on shares of Red Hat in a report on Monday, September 25th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and twenty-four have issued a buy rating to the stock. Red Hat currently has an average rating of “Buy” and an average price target of $110.93.
Red Hat, Inc. (NYSE RHT) traded down $0.68 during midday trading on Friday, hitting $125.95. The company’s stock had a trading volume of 1,331,998 shares, compared to its average volume of 1,668,049. The stock has a market cap of $22,410.00, a price-to-earnings ratio of 68.40, a P/E/G ratio of 3.96 and a beta of 1.18. Red Hat, Inc. has a twelve month low of $68.54 and a twelve month high of $126.67. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.30 and a quick ratio of 1.30.
Red Hat (NYSE:RHT) last released its quarterly earnings data on Monday, September 25th. The open-source software company reported $0.77 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.10. The business had revenue of $723.60 million during the quarter, compared to analyst estimates of $699.56 million. Red Hat had a return on equity of 25.27% and a net margin of 11.49%. The company’s revenue was up 20.6% on a year-over-year basis. During the same quarter last year, the business posted $0.55 EPS. sell-side analysts expect that Red Hat, Inc. will post 2 earnings per share for the current year.
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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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