Marshall Wace LLP Buys 187,621 Shares of Red Hat Inc (RHT)

Marshall Wace LLP increased its stake in Red Hat Inc (NYSE:RHT) by 396.1% during the 3rd quarter, Holdings Channel reports. The firm owned 234,990 shares of the open-source software company’s stock after acquiring an additional 187,621 shares during the period. Marshall Wace LLP’s holdings in Red Hat were worth $32,024,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. raised its stake in Red Hat by 16,350.0% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 987 shares of the open-source software company’s stock valued at $133,000 after acquiring an additional 981 shares in the last quarter. Quad Cities Investment Group LLC bought a new stake in Red Hat during the 2nd quarter valued at $134,000. Truvestments Capital LLC bought a new stake in Red Hat during the 3rd quarter valued at $138,000. Financial Architects Inc raised its stake in Red Hat by 95.2% during the 2nd quarter. Financial Architects Inc now owns 1,025 shares of the open-source software company’s stock valued at $137,000 after acquiring an additional 500 shares in the last quarter. Finally, Stratos Wealth Partners LTD. bought a new stake in Red Hat during the 3rd quarter valued at $146,000. 96.99% of the stock is currently owned by institutional investors and hedge funds.

In other Red Hat news, EVP Delisa Alexander sold 960 shares of the company’s stock in a transaction on Wednesday, October 17th. The stock was sold at an average price of $125.03, for a total transaction of $120,028.80. Following the transaction, the executive vice president now owns 33,217 shares of the company’s stock, valued at approximately $4,153,121.51. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO James M. Whitehurst sold 2,513 shares of the company’s stock in a transaction on Wednesday, October 17th. The stock was sold at an average price of $125.03, for a total value of $314,200.39. Following the transaction, the chief executive officer now directly owns 361,627 shares in the company, valued at approximately $45,214,223.81. The disclosure for this sale can be found here. Insiders have sold 3,631 shares of company stock worth $453,984 over the last 90 days. Corporate insiders own 0.58% of the company’s stock.



Shares of NYSE RHT traded down $0.61 during mid-day trading on Friday, reaching $177.64. The company had a trading volume of 12,783 shares, compared to its average volume of 2,174,716. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $31.30 billion, a price-to-earnings ratio of 77.19, a PEG ratio of 4.62 and a beta of 0.70. Red Hat Inc has a 1-year low of $115.31 and a 1-year high of $179.49.

Red Hat (NYSE:RHT) last released its quarterly earnings data on Wednesday, September 19th. The open-source software company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.03. Red Hat had a return on equity of 31.80% and a net margin of 9.15%. The firm had revenue of $822.75 million during the quarter, compared to analysts’ expectations of $828.12 million. During the same quarter last year, the firm earned $0.77 earnings per share. The business’s revenue for the quarter was up 13.7% on a year-over-year basis. As a group, analysts anticipate that Red Hat Inc will post 2.57 earnings per share for the current year.

Several analysts have weighed in on the company. Credit Suisse Group set a $190.00 target price on Red Hat and gave the company a “hold” rating in a research note on Monday, October 29th. Northland Securities downgraded Red Hat from an “outperform” rating to a “market perform” rating in a research note on Monday, October 29th. Needham & Company LLC downgraded Red Hat from a “buy” rating to a “hold” rating in a research note on Monday, November 5th. Royal Bank of Canada lifted their target price on Red Hat to $190.00 in a research note on Monday, October 29th. Finally, ValuEngine raised Red Hat from a “buy” rating to a “strong-buy” rating in a research note on Monday, October 29th. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $163.48.

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

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