Sowell Financial Services LLC Has $328,000 Stake in Red Hat Inc (RHT)

Sowell Financial Services LLC lifted its position in Red Hat Inc (NYSE:RHT) by 8.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,867 shares of the open-source software company’s stock after buying an additional 144 shares during the period. Sowell Financial Services LLC’s holdings in Red Hat were worth $328,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Alpha Omega Wealth Management LLC acquired a new position in shares of Red Hat in the 4th quarter worth $25,000. Athena Capital Advisors LLC acquired a new position in shares of Red Hat in the 4th quarter worth $27,000. Berman Capital Advisors LLC acquired a new position in shares of Red Hat in the 4th quarter worth $27,000. Legacy Financial Advisors Inc. acquired a new position in shares of Red Hat in the 4th quarter worth $33,000. Finally, Lindbrook Capital LLC acquired a new position in shares of Red Hat in the 4th quarter worth $47,000. 89.16% of the stock is currently owned by institutional investors.

In other Red Hat news, EVP Michael Cunningham sold 25,000 shares of the business’s stock in a transaction dated Thursday, February 7th. The stock was sold at an average price of $178.79, for a total value of $4,469,750.00. Following the completion of the sale, the executive vice president now owns 25,071 shares of the company’s stock, valued at $4,482,444.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.58% of the stock is owned by insiders.

A number of equities analysts recently issued reports on RHT shares. Zacks Investment Research upgraded Red Hat from a “hold” rating to a “buy” rating and set a $194.00 target price on the stock in a report on Monday, December 31st. ValuEngine cut Red Hat from a “strong-buy” rating to a “buy” rating in a report on Monday, April 1st. Thirteen investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $168.41.

NYSE RHT traded down $0.21 on Thursday, reaching $182.30. The stock had a trading volume of 1,009,122 shares, compared to its average volume of 1,521,381. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.27 and a quick ratio of 1.26. Red Hat Inc has a 1 year low of $115.31 and a 1 year high of $183.58. The company has a market capitalization of $32.26 billion, a P/E ratio of 65.34, a price-to-earnings-growth ratio of 4.01 and a beta of 0.54.

Red Hat (NYSE:RHT) last issued its earnings results on Monday, March 25th. The open-source software company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $1.01 by $0.15. Red Hat had a return on equity of 35.35% and a net margin of 12.91%. The firm had revenue of $879.00 million for the quarter, compared to the consensus estimate of $885.64 million. During the same quarter in the previous year, the company posted $0.91 earnings per share. The business’s quarterly revenue was up 13.8% compared to the same quarter last year. On average, equities analysts anticipate that Red Hat Inc will post 3.04 EPS for the current year.

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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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