Red Hat Inc (RHT) : Gagnon Securities reduced its stake in Red Hat Inc by 22.32% during the most recent quarter end. The investment management company now holds a total of 149,864 shares of Red Hat Inc which is valued at $10,749,745 after selling 43,067 shares in Red Hat Inc , the firm said in a disclosure report filed with the SEC on May 3, 2016.Red Hat Inc makes up approximately 5.34% of Gagnon Securities’s portfolio.
Other Hedge Funds, Including , Geneva Advisors reduced its stake in RHT by selling 30 shares or 0.77% in the most recent quarter. The Hedge Fund company now holds 3,880 shares of RHT which is valued at $278,312. Red Hat Inc makes up approx 0.01% of Geneva Advisors’s portfolio.Mitsubishi Ufj Kokusai Asset Management Ltd. boosted its stake in RHT in the latest quarter, The investment management firm added 2,175 additional shares and now holds a total of 26,548 shares of Red Hat Inc which is valued at $1,904,288. Red Hat Inc makes up approx 0.05% of Mitsubishi Ufj Kokusai Asset Management Ltd.’s portfolio. Alexandria Capital added RHT to its portfolio by purchasing 38 company shares during the most recent quarter which is valued at $2,788.Texas Permanent School Fund reduced its stake in RHT by selling 1,538 shares or 2.38% in the most recent quarter. The Hedge Fund company now holds 62,995 shares of RHT which is valued at $4,621,943. Red Hat Inc makes up approx 0.06% of Texas Permanent School Fund’s portfolio.Cornerstone Advisors boosted its stake in RHT in the latest quarter, The investment management firm added 54 additional shares and now holds a total of 85 shares of Red Hat Inc which is valued at $6,362. Red Hat Inc makes up approx 0.01% of Cornerstone Advisors’s portfolio.
Red Hat Inc opened for trading at $71.86 and hit $73.13 on the upside on Tuesday, eventually ending the session at $73.09, with a gain of 1.88% or 1.35 points. The heightened volatility saw the trading volume jump to 5,33,171 shares. Company has a market cap of $13,261 M.
On the company’s financial health, Red Hat Inc reported $0.52 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Mar 22, 2016. Analyst had a consensus of $0.47. The company had revenue of $544.00 million for the quarter, compared to analysts expectations of $537.50 million. The company’s revenue was up 17.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.43 EPS.
Many Wall Street Analysts have commented on Red Hat Inc. Red Hat Inc was Upgraded by Pacific Crest to ” Overweight” on Apr 14, 2016. Shares were Reiterated by BMO Capital Markets on Mar 23, 2016 to “Outperform” and Lowered the Price Target to $ 88 from a previous price target of $90 .Company shares were Reiterated by Drexel Hamilton on Mar 23, 2016 to “Buy”, Firm has raised the Price Target to $ 105 from a previous price target of $98 .
Red Hat Inc. is a provider of open source software solutions using a community-powered approach to develop and offer operating system virtualization middleware storage and cloud technologies. The Company employs an open source development model. The open source development model allows it to use the collective input resources and knowledge of a global community of contributors who can collaborate to develop maintain and enhance software because the human-readable source code for that software is publicly available and licenses permit modification. The Company distributes its software offerings under open source licenses that permit access to the software’s human-readable source code. The Company provides its software offerings primarily under annual or multi-year subscriptions as well as on-demand through cloud service providers.