Optimum Investment Advisors acquired a new stake in Red Hat, Inc. (NYSE:RHT) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 2,200 shares of the open-source software company’s stock, valued at approximately $211,000.

Several other institutional investors and hedge funds also recently made changes to their positions in RHT. D.A. Davidson & CO. raised its holdings in Red Hat by 6.8% in the second quarter. D.A. Davidson & CO. now owns 1,071 shares of the open-source software company’s stock valued at $102,000 after acquiring an additional 68 shares in the last quarter. Sun Life Financial INC grew its holdings in Red Hat by 14,837.5% during the 2nd quarter. Sun Life Financial INC now owns 1,195 shares of the open-source software company’s stock worth $114,000 after acquiring an additional 1,187 shares in the last quarter. Shine Investment Advisory Services Inc. acquired a new position in Red Hat during the 2nd quarter worth approximately $117,000. State of Alaska Department of Revenue acquired a new position in Red Hat during the 2nd quarter worth approximately $122,000. Finally, Global X Management Co. LLC grew its holdings in Red Hat by 91.3% during the 2nd quarter. Global X Management Co. LLC now owns 1,542 shares of the open-source software company’s stock worth $148,000 after acquiring an additional 736 shares in the last quarter. Institutional investors and hedge funds own 94.03% of the company’s stock.

In other news, Director William S. Kaiser sold 10,994 shares of the business’s stock in a transaction on Friday, July 7th. The shares were sold at an average price of $96.20, for a total value of $1,057,622.80. Following the completion of the sale, the director now directly owns 80,814 shares in the company, valued at $7,774,306.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Michael Cunningham sold 4,000 shares of the firm’s stock in a transaction on Friday, July 7th. The shares were sold at an average price of $96.59, for a total transaction of $386,360.00. Following the completion of the transaction, the executive vice president now owns 30,050 shares in the company, valued at $2,902,529.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 40,081 shares of company stock worth $4,064,114. Corporate insiders own 0.66% of the company’s stock.

Red Hat, Inc. (NYSE RHT) traded down 0.04% during midday trading on Wednesday, reaching $111.88. 129,711 shares of the company were exchanged. The firm’s 50-day moving average is $106.49 and its 200-day moving average is $95.19. Red Hat, Inc. has a one year low of $68.54 and a one year high of $112.41. The firm has a market cap of $19.85 billion, a P/E ratio of 76.63 and a beta of 1.25.

Red Hat (NYSE:RHT) last posted its earnings results on Monday, September 25th. The open-source software company reported $0.77 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.10. Red Hat had a return on equity of 25.27% and a net margin of 11.49%. The firm had revenue of $723.60 million during the quarter, compared to analyst estimates of $699.56 million. During the same period in the previous year, the company earned $0.55 EPS. The company’s revenue for the quarter was up 20.6% on a year-over-year basis. On average, equities analysts expect that Red Hat, Inc. will post $2.78 EPS for the current fiscal year.

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Several equities research analysts have recently weighed in on the company. Barclays PLC raised their target price on Red Hat from $105.00 to $120.00 and gave the stock an “overweight” rating in a research report on Monday, September 18th. Bank of America Corporation reaffirmed a “neutral” rating and issued a $115.00 price target (up from $105.00) on shares of Red Hat in a report on Tuesday, September 26th. Oppenheimer Holdings, Inc. reiterated an “outperform” rating and issued a $105.00 price target (up from $96.00) on shares of Red Hat in a research note on Thursday, June 22nd. Wells Fargo & Company reiterated an “outperform” rating and issued a $124.00 price target (up from $120.00) on shares of Red Hat in a research note on Wednesday, September 27th. Finally, Piper Jaffray Companies began coverage on shares of Red Hat in a report on Friday, June 23rd. They set a “neutral” rating and a $100.00 price objective on the stock. Ten equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $110.93.

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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