Hellman Jordan Management Co. Inc. MA Sells 2,575 Shares of Red Hat Inc (RHT)

Hellman Jordan Management Co. Inc. MA reduced its position in shares of Red Hat Inc (NYSE:RHT) by 25.9% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,385 shares of the open-source software company’s stock after selling 2,575 shares during the quarter. Red Hat makes up about 1.8% of Hellman Jordan Management Co. Inc. MA’s holdings, making the stock its 21st biggest holding. Hellman Jordan Management Co. Inc. MA’s holdings in Red Hat were worth $819,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Global X Management Co. LLC raised its holdings in Red Hat by 91.3% in the 2nd quarter. Global X Management Co. LLC now owns 1,542 shares of the open-source software company’s stock worth $148,000 after purchasing an additional 736 shares in the last quarter. Canada Pension Plan Investment Board raised its holdings in Red Hat by 303.8% in the 2nd quarter. Canada Pension Plan Investment Board now owns 59,878 shares of the open-source software company’s stock worth $5,733,000 after purchasing an additional 45,048 shares in the last quarter. Wetherby Asset Management Inc. bought a new position in Red Hat in the 2nd quarter worth $219,000. Schwab Charles Investment Management Inc. raised its holdings in Red Hat by 8.1% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 652,768 shares of the open-source software company’s stock worth $62,503,000 after purchasing an additional 48,777 shares in the last quarter. Finally, Teacher Retirement System of Texas bought a new position in Red Hat in the 2nd quarter worth $2,307,000. Institutional investors own 93.57% of the company’s stock.

In other news, insider Michael A. Kelly sold 2,888 shares of Red Hat stock in a transaction that occurred on Wednesday, October 18th. The shares were sold at an average price of $121.03, for a total transaction of $349,534.64. Following the sale, the insider now owns 8,751 shares in the company, valued at $1,059,133.53. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Delisa Alexander sold 1,073 shares of the firm’s stock in a transaction on Tuesday, October 17th. The shares were sold at an average price of $120.36, for a total transaction of $129,146.28. Following the completion of the transaction, the executive vice president now directly owns 38,150 shares of the company’s stock, valued at $4,591,734. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,172 shares of company stock worth $3,926,377. 0.66% of the stock is owned by company insiders.

Shares of Red Hat Inc (NYSE:RHT) traded down $1.03 during trading hours on Friday, hitting $120.10. 1,264,369 shares of the stock traded hands, compared to its average volume of 1,928,551. Red Hat Inc has a 52-week low of $68.95 and a 52-week high of $130.93. The company has a quick ratio of 1.30, a current ratio of 1.37 and a debt-to-equity ratio of 0.53. The company has a market cap of $21,596.03, a PE ratio of 65.63, a PEG ratio of 3.70 and a beta of 1.19.

Red Hat (NYSE:RHT) last released its earnings results on Tuesday, December 19th. The open-source software company reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.03. Red Hat had a net margin of 12.14% and a return on equity of 26.23%. The company had revenue of $747.98 million for the quarter, compared to analysts’ expectations of $734.69 million. During the same quarter last year, the business earned $0.61 EPS. The firm’s revenue was up 21.6% compared to the same quarter last year. equities analysts forecast that Red Hat Inc will post 2.08 earnings per share for the current year.

RHT has been the subject of several research reports. Zacks Investment Research upgraded shares of Red Hat from a “hold” rating to a “buy” rating and set a $120.00 price objective for the company in a report on Thursday, September 21st. Stifel Nicolaus restated a “buy” rating and issued a $115.00 price objective on shares of Red Hat in a report on Wednesday, September 20th. Moffett Nathanson initiated coverage on shares of Red Hat in a report on Wednesday, September 6th. They issued a “buy” rating for the company. Drexel Hamilton reiterated a “buy” rating and issued a $127.00 price target on shares of Red Hat in a research note on Tuesday, September 19th. Finally, Mizuho reiterated a “buy” rating and issued a $125.00 price target (up from $109.00) on shares of Red Hat in a research note on Tuesday, September 26th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and twenty-two have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $124.25.

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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.

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

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