Meag Munich Ergo Kapitalanlagegesellschaft MBH bought a new position in shares of Red Hat Inc (NYSE:RHT) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 6,897 shares of the open-source software company’s stock, valued at approximately $1,254,000.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc increased its position in shares of Red Hat by 0.6% during the third quarter. Vanguard Group Inc now owns 18,703,926 shares of the open-source software company’s stock worth $2,548,970,000 after acquiring an additional 103,057 shares in the last quarter. Oregon Public Employees Retirement Fund increased its position in shares of Red Hat by 11,583.7% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 10,095,436 shares of the open-source software company’s stock worth $57,000 after acquiring an additional 10,009,030 shares in the last quarter. Norges Bank bought a new stake in shares of Red Hat during the fourth quarter worth about $297,683,000. Neuberger Berman Group LLC increased its position in shares of Red Hat by 761.5% during the third quarter. Neuberger Berman Group LLC now owns 1,010,801 shares of the open-source software company’s stock worth $137,752,000 after acquiring an additional 893,465 shares in the last quarter. Finally, Legal & General Group Plc increased its position in shares of Red Hat by 9.0% during the fourth quarter. Legal & General Group Plc now owns 876,865 shares of the open-source software company’s stock worth $153,998,000 after acquiring an additional 72,056 shares in the last quarter. 89.25% of the stock is currently owned by hedge funds and other institutional investors.
Shares of RHT stock traded up $0.07 during trading on Wednesday, reaching $186.20. 1,049,278 shares of the company’s stock traded hands, compared to its average volume of 1,483,034. Red Hat Inc has a 1 year low of $115.31 and a 1 year high of $186.30. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $33.09 billion, a P/E ratio of 66.74, a PEG ratio of 4.07 and a beta of 0.52.
Red Hat (NYSE:RHT) last posted its earnings results on Monday, March 25th. The open-source software company reported $1.16 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.15. The business had revenue of $879.00 million for the quarter, compared to analysts’ expectations of $885.64 million. Red Hat had a net margin of 12.91% and a return on equity of 35.35%. The business’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.91 EPS. On average, equities analysts predict that Red Hat Inc will post 3.04 EPS for the current year.
Separately, ValuEngine downgraded shares of Red Hat from a “strong-buy” rating to a “buy” rating in a research report on Monday, April 1st. Thirteen research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $168.33.
Red Hat Profile
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.
Featured Story: Quiet Period
Receive News & Ratings for Red Hat Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Red Hat and related companies with MarketBeat.com's FREE daily email newsletter.