Northwestern Mutual Investment Management Company LLC reduced its stake in shares of Red Hat Inc. (NYSE:RHT) by 16.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 494,347 shares of the open-source software company’s stock after selling 100,111 shares during the period. Northwestern Mutual Investment Management Company LLC owned approximately 0.27% of Red Hat worth $35,890,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Wunderlich Capital Managemnt acquired a new position in shares of Red Hat during the second quarter valued at approximately $137,000. Mizuho Asset Management Co. Ltd. increased its position in shares of Red Hat by 125.8% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,393 shares of the open-source software company’s stock valued at $174,000 after buying an additional 1,333 shares during the period. Hills Bank & Trust Co. acquired a new position in shares of Red Hat during the second quarter valued at approximately $222,000. Pacer Advisors Inc. increased its position in shares of Red Hat by 10.8% in the second quarter. Pacer Advisors Inc. now owns 3,392 shares of the open-source software company’s stock valued at $246,000 after buying an additional 331 shares during the period. Finally, Wall Street Associates acquired a new position in shares of Red Hat during the second quarter valued at approximately $247,000. 93.31% of the stock is currently owned by institutional investors.

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

Red Hat Inc. (NYSE:RHT) opened at 77.05 on Monday. Red Hat Inc. has a 12 month low of $59.59 and a 12 month high of $84.44. The stock has a market cap of $13.84 billion, a P/E ratio of 64.80 and a beta of 1.51. The company’s 50-day moving average price is $77.65 and its 200-day moving average price is $75.23.

Red Hat (NYSE:RHT) last released its quarterly earnings results on Wednesday, September 21st. The open-source software company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates 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 business’s revenue was up 19.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.47 EPS. Equities analysts forecast that Red Hat Inc. will post $2.24 earnings per share for the current year.

Several equities analysts have commented on the company. Robert W. Baird upped their price objective on Red Hat from $85.00 to $90.00 and gave the company an “outperform” rating in a research report on Friday, September 23rd. Zacks Investment Research raised Red Hat from a “hold” rating to a “buy” rating and set a $89.00 price target on the stock in a research report on Wednesday, September 28th. Mizuho reissued a “buy” rating and set a $88.00 price target on shares of Red Hat in a research report on Wednesday, September 21st. Oppenheimer Holdings Inc. set a $88.00 price target on Red Hat and gave the stock a “buy” rating in a research report on Thursday, September 22nd. Finally, Vetr downgraded Red Hat from a “strong-buy” rating to a “buy” rating and set a $82.50 price target on the stock. in a research report on Monday, August 22nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-five have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $89.33.

In other Red Hat news, Director General Henry Hugh Shelton sold 15,000 shares of the stock in a transaction on Friday, September 30th. The stock was sold at an average price of $80.70, for a total transaction of $1,210,500.00. Following the sale, the director now owns 9,026 shares in the company, valued at approximately $728,398.20. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director William S. Kaiser sold 12,500 shares of the stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $80.35, for a total value of $1,004,375.00. Following the sale, the director now owns 120,814 shares in the company, valued at approximately $9,707,404.90. The disclosure for this sale can be found here. 0.76% of the stock is owned by corporate insiders.

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.

5 Day Chart for NYSE:RHT

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