State of Wisconsin Investment Board Sells 69,218 Shares of Red Hat Software (RHT)

State of Wisconsin Investment Board cut its holdings in Red Hat Software (NYSE:RHT) by 24.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 213,249 shares of the open-source software company’s stock after selling 69,218 shares during the period. State of Wisconsin Investment Board’s holdings in Red Hat Software were worth $31,883,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. We Are One Seven LLC acquired a new stake in shares of Red Hat Software in the fourth quarter valued at approximately $105,000. Calton & Associates Inc. acquired a new stake in shares of Red Hat Software in the fourth quarter valued at approximately $189,000. Avestar Capital LLC acquired a new stake in shares of Red Hat Software in the fourth quarter valued at approximately $168,000. Winslow Evans & Crocker Inc. acquired a new stake in shares of Red Hat Software in the fourth quarter valued at approximately $193,000. Finally, Aries Wealth Management acquired a new stake in shares of Red Hat Software in the fourth quarter valued at approximately $210,000. Institutional investors own 94.41% of the company’s stock.

In related news, CEO James M. Whitehurst sold 4,422 shares of the company’s stock in a transaction dated Tuesday, April 17th. The shares were sold at an average price of $161.32, for a total transaction of $713,357.04. Following the completion of the sale, the chief executive officer now owns 346,645 shares of the company’s stock, valued at $55,920,771.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Arun Oberoi sold 15,000 shares of the company’s stock in a transaction dated Monday, April 9th. The stock was sold at an average price of $153.58, for a total transaction of $2,303,700.00. Following the sale, the executive vice president now directly owns 74,457 shares of the company’s stock, valued at approximately $11,435,106.06. The disclosure for this sale can be found here. In the last three months, insiders sold 107,376 shares of company stock valued at $17,167,724. 0.66% of the stock is currently owned by company insiders.



Shares of Red Hat Software opened at $172.47 on Monday, MarketBeat reports. The stock has a market capitalization of $30.64 billion, a PE ratio of 74.99, a price-to-earnings-growth ratio of 4.35 and a beta of 1.07. Red Hat Software has a 52-week low of $84.16 and a 52-week high of $173.27. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.36 and a quick ratio of 1.36.

Red Hat Software (NYSE:RHT) last announced its earnings results on Monday, March 26th. The open-source software company reported $0.91 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.10. The company had revenue of $772.00 million during 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%. Red Hat Software’s quarterly revenue was up 22.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.61 earnings per share. analysts anticipate that Red Hat Software will post 2.52 earnings per share for the current year.

A number of analysts have recently issued reports on the stock. BMO Capital Markets reiterated a “hold” rating and issued a $180.00 price objective on shares of Red Hat Software in a report on Tuesday, March 27th. Stifel Nicolaus lifted their price objective on shares of Red Hat Software from $150.00 to $172.00 and gave the company a “buy” rating in a report on Tuesday, March 27th. Oppenheimer boosted their target price on shares of Red Hat Software from $140.00 to $175.00 and gave the stock an “outperform” rating in a report on Tuesday, March 27th. Monness Crespi & Hardt began coverage on shares of Red Hat Software in a report on Wednesday, April 11th. They set a “buy” rating and a $175.00 target price on the stock. Finally, Deutsche Bank boosted their target price on shares of Red Hat Software from $150.00 to $170.00 and gave the stock a “buy” rating in a report on Tuesday, March 27th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $156.00.

Red Hat Software 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.

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Institutional Ownership by Quarter for Red Hat Software (NYSE:RHT)

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