Sumitomo Mitsui Trust Holdings Inc. lowered its stake in Red Hat Inc. (NYSE:RHT) by 1.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 583,894 shares of the open-source software company’s stock after selling 8,567 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 0.32% of Red Hat worth $42,391,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Squarepoint Ops LLC purchased a new position in Red Hat during the first quarter valued at about $2,435,000. Arizona State Retirement System raised its stake in Red Hat by 2.5% in the first quarter. Arizona State Retirement System now owns 49,500 shares of the open-source software company’s stock valued at $3,688,000 after buying an additional 1,200 shares in the last quarter. LPL Financial LLC raised its stake in Red Hat by 34.0% in the first quarter. LPL Financial LLC now owns 16,990 shares of the open-source software company’s stock valued at $1,258,000 after buying an additional 4,310 shares in the last quarter. Arrowgrass Capital Partners US LP raised its stake in Red Hat by 2.0% in the first quarter. Arrowgrass Capital Partners US LP now owns 1,011,328 shares of the open-source software company’s stock valued at $75,354,000 after buying an additional 19,873 shares in the last quarter. Finally, Opera Trading Capital bought a new stake in Red Hat during the first quarter valued at $1,274,000. Hedge funds and other institutional investors own 94.83% of the company’s stock.

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

Shares of Red Hat Inc. (NYSE:RHT) traded up 1.72% on Tuesday, hitting $77.50. The stock had a trading volume of 1,194,756 shares. The firm has a 50-day moving average price of $76.27 and a 200-day moving average price of $74.93. Red Hat Inc. has a 52 week low of $59.59 and a 52 week high of $84.44. The stock has a market capitalization of $13.92 billion, a P/E ratio of 65.18 and a beta of 1.52.

Red Hat (NYSE:RHT) last announced its earnings results on Wednesday, September 21st. The open-source software company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.01. The business had revenue of $599.80 million for the quarter. Red Hat had a return on equity of 18.93% and a net margin of 9.84%. The company’s revenue for the quarter was up 19.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.47 earnings per share. Equities analysts expect that Red Hat Inc. will post $2.24 earnings per share for the current fiscal year.

Several research firms have recently weighed in on RHT. Drexel Hamilton reiterated a “buy” rating and issued a $105.00 price objective on shares of Red Hat in a research note on Monday, June 20th. Mizuho reiterated a “buy” rating and issued a $88.00 price objective on shares of Red Hat in a research note on Thursday, June 23rd. BTIG Research reiterated a “buy” rating and issued a $92.00 price objective on shares of Red Hat in a research note on Thursday, June 23rd. Morgan Stanley lowered shares of Red Hat from an “overweight” rating to an “equal weight” rating and lifted their price objective for the company from $72.18 to $80.00 in a research note on Thursday, July 7th. They noted that the move was a valuation call. Finally, Oppenheimer Holdings Inc. reiterated a “buy” rating and issued a $88.00 price objective on shares of Red Hat in a research note on Thursday, June 23rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-five have given a buy rating to the stock. Red Hat has an average rating of “Buy” and an average price target of $89.33.

In other Red Hat news, EVP Michael Cunningham sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, July 26th. The stock was sold at an average price of $75.00, for a total value of $750,000.00. Following the transaction, the executive vice president now directly owns 52,484 shares of the company’s stock, valued at $3,936,300. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director General Henry Hugh Shelton sold 15,000 shares of the firm’s stock in a transaction dated Friday, September 30th. The stock was sold at an average price of $80.70, for a total value of $1,210,500.00. Following the completion of the transaction, the director now directly owns 9,026 shares in the company, valued at $728,398.20. The disclosure for this sale can be found here. 0.76% of the stock is owned by company insiders.

About Red Hat

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.

5 Day Chart for NYSE:RHT

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