Cubist Systematic Strategies LLC boosted its holdings in shares of Red Hat, Inc. (NYSE:RHT) by 21.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,606 shares of the open-source software company’s stock after purchasing an additional 7,046 shares during the period. Cubist Systematic Strategies LLC’s holdings in Red Hat were worth $3,888,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. D.A. Davidson & CO. increased its holdings in Red Hat by 6.8% during the 2nd quarter. D.A. Davidson & CO. now owns 1,071 shares of the open-source software company’s stock valued at $102,000 after purchasing an additional 68 shares in the last quarter. Nordea Investment Management AB increased its holdings in Red Hat by 1.0% during the 1st quarter. Nordea Investment Management AB now owns 6,919 shares of the open-source software company’s stock valued at $598,000 after purchasing an additional 70 shares in the last quarter. RB Capital Management LLC increased its holdings in Red Hat by 2.6% during the 2nd quarter. RB Capital Management LLC now owns 3,875 shares of the open-source software company’s stock valued at $371,000 after purchasing an additional 100 shares in the last quarter. Outfitter Advisors LTD. increased its holdings in Red Hat by 0.9% during the 2nd quarter. Outfitter Advisors LTD. now owns 11,120 shares of the open-source software company’s stock valued at $1,065,000 after purchasing an additional 100 shares in the last quarter. Finally, Boltwood Capital Management increased its holdings in Red Hat by 1.2% during the 2nd quarter. Boltwood Capital Management now owns 10,040 shares of the open-source software company’s stock valued at $961,000 after purchasing an additional 115 shares in the last quarter. 94.03% of the stock is owned by hedge funds and other institutional investors.

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Red Hat, Inc. (NYSE:RHT) traded up 1.33% during mid-day trading on Friday, hitting $117.06. The company’s stock had a trading volume of 2,041,735 shares. Red Hat, Inc. has a 52-week low of $68.54 and a 52-week high of $117.22. The firm has a 50 day moving average of $107.71 and a 200-day moving average of $95.69. The firm has a market cap of $20.71 billion, a price-to-earnings ratio of 70.05 and a beta of 1.25.

Red Hat (NYSE:RHT) last released its quarterly earnings data on Monday, September 25th. The open-source software company reported $0.77 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.10. The company had revenue of $723.60 million for the quarter, compared to analysts’ expectations of $699.56 million. Red Hat had a net margin of 11.49% and a return on equity of 25.27%. The business’s revenue was up 20.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.55 EPS. On average, equities research analysts expect that Red Hat, Inc. will post $2.79 EPS for the current fiscal year.

In other news, EVP Delisa Alexander sold 2,444 shares of the stock in a transaction dated Tuesday, July 18th. The shares were sold at an average price of $98.25, for a total transaction of $240,123.00. Following the transaction, the executive vice president now owns 41,570 shares of the company’s stock, valued at approximately $4,084,252.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William S. Kaiser sold 14,000 shares of the stock in a transaction dated Thursday, October 5th. The stock was sold at an average price of $114.79, for a total transaction of $1,607,060.00. The disclosure for this sale can be found here. Insiders have sold a total of 39,087 shares of company stock worth $4,227,191 in the last three months. Insiders own 0.66% of the company’s stock.

A number of research firms recently weighed in on RHT. Robert W. Baird reaffirmed a “hold” rating on shares of Red Hat in a report on Tuesday, September 26th. Barclays PLC raised their price target on Red Hat from $120.00 to $122.00 and gave the company an “overweight” rating in a report on Tuesday, September 26th. J P Morgan Chase & Co reaffirmed an “overweight” rating and set a $117.00 price target (up from $110.00) on shares of Red Hat in a report on Tuesday, September 26th. Wells Fargo & Company reaffirmed an “outperform” rating and set a $124.00 price target (up from $120.00) on shares of Red Hat in a report on Wednesday, September 27th. Finally, Deutsche Bank AG reaffirmed a “buy” rating and set a $130.00 price target on shares of Red Hat in a report on Monday, October 2nd. Ten investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $110.93.

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.

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

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