Harding Loevner LP reduced its stake in Red Hat Inc. (NYSE:RHT) by 0.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,459,457 shares of the open-source software company’s stock after selling 4,774 shares during the period. Harding Loevner LP owned about 0.81% of Red Hat worth $117,968,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its position in Red Hat by 44.9% in the first quarter. Wellington Management Group LLP now owns 120,042 shares of the open-source software company’s stock valued at $8,944,000 after buying an additional 37,221 shares during the last quarter. AMP Capital Investors Ltd raised its position in Red Hat by 22.4% in the first quarter. AMP Capital Investors Ltd now owns 82,424 shares of the open-source software company’s stock valued at $6,102,000 after buying an additional 15,072 shares during the last quarter. LPL Financial LLC raised its position 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 during the last quarter. Arizona State Retirement System raised its position 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 during the last quarter. Finally, Squarepoint Ops LLC bought a new position in Red Hat during the first quarter valued at approximately $2,435,000. 94.94% of the stock is owned by hedge funds and other institutional investors.

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

Shares of Red Hat Inc. (NYSE:RHT) traded up 0.78% on Monday, reaching $79.65. The company had a trading volume of 775,086 shares. The firm has a market capitalization of $14.30 billion, a price-to-earnings ratio of 66.99 and a beta of 1.51. The firm has a 50-day moving average price of $77.40 and a 200 day moving average price of $75.48. Red Hat Inc. has a 1-year low of $59.59 and a 1-year high of $84.44.

Red Hat (NYSE:RHT) last announced its quarterly earnings results on Wednesday, September 21st. The open-source software company reported $0.55 EPS for the quarter, topping the Thomson Reuters’ 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%. Red Hat’s revenue was up 19.0% compared to the same quarter last year. During the same period last year, the firm earned $0.47 EPS. Equities research analysts predict that Red Hat Inc. will post $2.24 earnings per share for the current year.

Several research analysts have recently commented on RHT shares. Vetr lowered Red Hat from a “strong-buy” rating to a “buy” rating and set a $84.60 price target for the company. in a research report on Monday, August 8th. Deutsche Bank AG restated a “buy” rating and set a $95.00 target price on shares of Red Hat in a research note on Saturday, August 13th. Mizuho restated a “buy” rating and set a $88.00 target price on shares of Red Hat in a research note on Wednesday, September 14th. Barclays PLC restated a “buy” rating and set a $90.00 target price on shares of Red Hat in a research note on Thursday, September 15th. Finally, BMO Capital Markets boosted their target price on Red Hat from $85.00 to $89.00 and gave the stock an “outperform” rating in a research note on Thursday, September 22nd. One research 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 a consensus target price of $89.30.

In related news, Director William S. Kaiser sold 12,500 shares of Red Hat stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $80.35, for a total transaction of $1,004,375.00. Following the completion of the transaction, the director now directly owns 120,814 shares in the company, valued at approximately $9,707,404.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Delisa Alexander sold 1,121 shares of Red Hat stock in a transaction that occurred on Tuesday, October 18th. The stock was sold at an average price of $77.00, for a total value of $86,317.00. Following the transaction, the executive vice president now owns 57,356 shares of the company’s stock, valued at $4,416,412. The disclosure for this sale can be found here. Insiders own 0.76% of the company’s stock.

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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