Israel Discount Bank of New York trimmed its position in shares of Red Hat, Inc. (NYSE:RHT) by 9.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,772 shares of the open-source software company’s stock after selling 835 shares during the period. Israel Discount Bank of New York’s holdings in Red Hat were worth $745,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of RHT. Jericho Capital Asset Management L.P. bought a new position in Red Hat during the first quarter valued at about $92,816,000. MARSHALL WACE ASIA Ltd bought a new position in Red Hat during the first quarter valued at about $61,821,000. Marshall Wace North America L.P. bought a new position in Red Hat during the first quarter valued at about $61,821,000. TimesSquare Capital Management LLC bought a new position in Red Hat during the first quarter valued at about $58,586,000. Finally, Northwestern Mutual Investment Management Company LLC increased its stake in Red Hat by 1,271.7% during the second quarter. Northwestern Mutual Investment Management Company LLC now owns 494,347 shares of the open-source software company’s stock valued at $35,890,000 after acquiring an additional 458,307 shares during the period. Hedge funds and other institutional investors own 94.21% of the company’s stock.

Several equities analysts recently issued reports on RHT shares. Goldman Sachs Group, Inc. (The) lifted their price objective on Red Hat from $85.00 to $97.00 and gave the company a “buy” rating in a report on Wednesday, June 21st. BTIG Research decreased their price objective on Red Hat from $120.00 to $95.00 and set a “buy” rating on the stock in a report on Wednesday, June 21st. Mizuho decreased their price objective on Red Hat from $109.00 to $96.00 and set a “buy” rating on the stock in a report on Wednesday, June 21st. Deutsche Bank AG lifted their price objective on Red Hat from $100.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, June 21st. Finally, Stifel Nicolaus raised Red Hat from a “hold” rating to a “buy” rating and lifted their price objective for the company from $83.00 to $115.00 in a report on Wednesday, June 21st. Eleven analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $99.80.

Shares of Red Hat, Inc. (NYSE RHT) traded up 0.07% during mid-day trading on Friday, hitting $107.12. 1,111,518 shares of the company’s stock traded hands. The company has a market cap of $19.01 billion, a PE ratio of 73.37 and a beta of 1.24. Red Hat, Inc. has a 52 week low of $68.54 and a 52 week high of $108.09. The firm has a 50-day moving average of $101.79 and a 200 day moving average of $91.94.

Red Hat (NYSE:RHT) last issued its quarterly earnings results on Tuesday, June 20th. The open-source software company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.03. The company had revenue of $677 million for the quarter, compared to analyst estimates of $647.42 million. Red Hat had a net margin of 10.54% and a return on equity of 22.84%. Red Hat’s revenue was up 19.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.50 earnings per share. Equities research analysts predict that Red Hat, Inc. will post $2.69 EPS for the current year.

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In other news, Director William S. Kaiser sold 4,006 shares of Red Hat stock in a transaction on Friday, June 30th. The shares were sold at an average price of $96.43, for a total transaction of $386,298.58. Following the transaction, the director now owns 91,808 shares in the company, valued at $8,853,045.44. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Eric Ryan Shander sold 1,521 shares of Red Hat stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $99.98, for a total transaction of $152,069.58. Following the transaction, the chief financial officer now owns 9,913 shares in the company, valued at approximately $991,101.74. The disclosure for this sale can be found here. In the last quarter, insiders have sold 44,087 shares of company stock worth $4,265,012. 0.66% of the stock is owned by company insiders.

Red Hat 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.

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

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