Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in shares of Red Hat, Inc. (NYSE:RHT) by 13.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,651 shares of the open-source software company’s stock after buying an additional 5,044 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Red Hat were worth $4,084,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Shine Investment Advisory Services Inc. bought a new stake in shares of Red Hat during the second quarter valued at about $117,000. State of Alaska Department of Revenue acquired a new stake in shares of Red Hat during the second quarter worth about $122,000. Bronfman E.L. Rothschild L.P. raised its stake in shares of Red Hat by 1.4% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 1,521 shares of the open-source software company’s stock worth $132,000 after buying an additional 21 shares during the period. YorkBridge Wealth Partners LLC raised its stake in shares of Red Hat by 102.4% in the first quarter. YorkBridge Wealth Partners LLC now owns 1,538 shares of the open-source software company’s stock worth $136,000 after buying an additional 778 shares during the period. Finally, Global X Management Co. LLC raised its stake in shares of Red Hat by 91.3% in the second quarter. Global X Management Co. LLC now owns 1,542 shares of the open-source software company’s stock worth $148,000 after buying an additional 736 shares during the period. Hedge funds and other institutional investors own 94.21% of the company’s stock.

Shares of Red Hat, Inc. (NYSE:RHT) opened at 105.59 on Tuesday. The firm has a market capitalization of $18.74 billion, a P/E ratio of 72.32 and a beta of 1.26. The stock has a 50 day moving average price of $99.58 and a 200 day moving average price of $90.24. Red Hat, Inc. has a 12-month low of $68.54 and a 12-month high of $105.92.

Red Hat (NYSE:RHT) last issued its earnings results on Tuesday, June 20th. The open-source software company reported $0.56 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.03. Red Hat had a return on equity of 22.84% and a net margin of 10.54%. The business had revenue of $677 million during the quarter, compared to analysts’ expectations of $647.42 million. During the same period in the prior year, the firm posted $0.50 EPS. Red Hat’s quarterly revenue was up 19.2% compared to the same quarter last year. Equities analysts anticipate that Red Hat, Inc. will post $2.68 earnings per share for the current fiscal year.

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A number of analysts have issued reports on the stock. Deutsche Bank AG boosted their price target on shares of Red Hat from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, June 21st. Oppenheimer Holdings, Inc. reiterated an “outperform” rating and set a $96.00 price target (up from $94.00) on shares of Red Hat in a research note on Wednesday, May 10th. Mizuho cut their price target on shares of Red Hat from $109.00 to $96.00 and set a “buy” rating on the stock in a research note on Wednesday, June 21st. Piper Jaffray Companies reiterated a “hold” rating and set a $100.00 price target on shares of Red Hat in a research note on Sunday. Finally, Pacific Crest cut their price target on shares of Red Hat from $115.00 to $97.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 21st. Ten analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $98.72.

In other news, Director William S. Kaiser sold 4,006 shares of the stock in a transaction that occurred on Friday, June 30th. The stock was sold at an average price of $96.43, for a total value of $386,298.58. Following the completion of the transaction, the director now directly owns 91,808 shares of the company’s stock, valued at approximately $8,853,045.44. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Paul J. Cormier sold 30,000 shares of the stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $90.35, for a total value of $2,710,500.00. Following the completion of the transaction, the executive vice president now directly owns 249,578 shares of the company’s stock, valued at $22,549,372.30. The disclosure for this sale can be found here. Over the last three months, insiders sold 130,549 shares of company stock valued at $12,133,438. 0.66% of the stock is currently owned by 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.

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

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