Allspring Global Investments Holdings LLC Has $97.14 Million Stock Holdings in RH (NYSE:RH)

Allspring Global Investments Holdings LLC increased its holdings in shares of RH (NYSE:RH) by 0.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 245,871 shares of the company’s stock after purchasing an additional 61 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in RH were worth $97,141,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Two Sigma Advisers LP lifted its holdings in shares of RH by 141.5% in the third quarter. Two Sigma Advisers LP now owns 159,600 shares of the company’s stock valued at $53,375,000 after purchasing an additional 93,500 shares in the last quarter. Artemis Investment Management LLP acquired a new position in RH during the 4th quarter worth approximately $31,384,000. WCM Investment Management LLC bought a new position in shares of RH during the 4th quarter worth approximately $18,006,000. Charles Schwab Investment Management Inc. raised its holdings in shares of RH by 26.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 184,834 shares of the company’s stock valued at $61,814,000 after purchasing an additional 38,572 shares during the last quarter. Finally, Portolan Capital Management LLC bought a new stake in shares of RH in the third quarter worth $5,177,000. 90.17% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other RH news, Director Keith Belling sold 500 shares of the stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $415.00, for a total transaction of $207,500.00. Following the transaction, the director now owns 5,470 shares in the company, valued at $2,270,050. This trade represents a 8.38 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Eri Chaya sold 10,000 shares of RH stock in a transaction on Monday, January 6th. The stock was sold at an average price of $416.27, for a total value of $4,162,700.00. The disclosure for this sale can be found here. Insiders sold 66,880 shares of company stock worth $29,129,879 over the last three months. Insiders own 28.10% of the company’s stock.

Analysts Set New Price Targets

RH has been the subject of a number of analyst reports. Barclays raised shares of RH from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $383.00 to $515.00 in a research report on Wednesday, January 8th. Telsey Advisory Group upgraded RH from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $485.00 to $500.00 in a report on Thursday, December 19th. Morgan Stanley upgraded RH from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $435.00 to $530.00 in a report on Monday, January 13th. Guggenheim increased their price target on RH from $425.00 to $550.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Finally, Wells Fargo & Company boosted their price target on RH from $425.00 to $500.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, RH has an average rating of “Moderate Buy” and an average price target of $431.60.

RH Price Performance

Shares of RH stock opened at $374.47 on Thursday. The business has a fifty day simple moving average of $409.51 and a two-hundred day simple moving average of $345.04. RH has a 1 year low of $212.43 and a 1 year high of $457.26. The company has a market capitalization of $6.97 billion, a price-to-earnings ratio of 107.61, a P/E/G ratio of 3.02 and a beta of 2.42.

RH (NYSE:RH) last posted its earnings results on Thursday, December 12th. The company reported $2.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.67 by ($0.19). The company had revenue of $811.73 million for the quarter, compared to analyst estimates of $812.19 million. RH had a negative return on equity of 35.72% and a net margin of 2.25%. The business’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.42) EPS. As a group, equities analysts anticipate that RH will post 4.37 earnings per share for the current fiscal year.

RH Profile

RH, together with its subsidiaries, operates as a retailer in the home furnishings market. The company offers products in various categories, including furniture, lighting, textiles, bathware, décor, outdoor and garden, baby, child, and teen furnishings. It provides its products through rh.com, rhbabyandchild.com, rhteen.com, rhmodern.com, and waterworks.com online channels, as well as operates RH Galleries, RH outlet stores, RH Guesthouse, and Waterworks showrooms in the United States, Canada, the United Kingdom, and Germany.