Valicenti Advisory Services Inc. increased its position in Red Hat Inc. (NYSE:RHT) by 94.5% during the second quarter, Holdings Channel reports. The fund owned 27,525 shares of the open-source software company’s stock after buying an additional 13,375 shares during the period. Valicenti Advisory Services Inc.’s holdings in Red Hat were worth $1,998,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of RHT. Davis R M Inc. boosted its stake in Red Hat by 11.1% in the second quarter. Davis R M Inc. now owns 383,649 shares of the open-source software company’s stock valued at $27,853,000 after buying an additional 38,418 shares in the last quarter. Geode Capital Management LLC boosted its stake in Red Hat by 3.6% in the first quarter. Geode Capital Management LLC now owns 1,474,178 shares of the open-source software company’s stock valued at $109,614,000 after buying an additional 50,686 shares in the last quarter. Arrowgrass Capital Partners US LP boosted its stake in Red Hat by 2.0% in the first quarter. Arrowgrass Capital Partners US LP now owns 1,011,328 shares of the open-source software company’s stock valued at $75,354,000 after buying an additional 19,873 shares in the last quarter. AMP Capital Investors Ltd boosted its stake 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 in the last quarter. Finally, National Pension Service boosted its stake in Red Hat by 4.5% in the first quarter. National Pension Service now owns 120,724 shares of the open-source software company’s stock valued at $8,995,000 after buying an additional 5,199 shares in the last quarter. Institutional investors and hedge funds own 94.81% of the company’s stock.

Shares of Red Hat Inc. (NYSE:RHT) traded up 1.66% during mid-day trading on Wednesday, reaching $77.04. The company’s stock had a trading volume of 3,021,954 shares. Red Hat Inc. has a 52 week low of $59.59 and a 52 week high of $84.44. The stock has a market capitalization of $13.95 billion, a price-to-earnings ratio of 67.58 and a beta of 1.32. The company’s 50-day moving average is $74.08 and its 200-day moving average is $74.11.

Red Hat (NYSE:RHT) last announced its quarterly earnings data on Wednesday, September 21st. The open-source software company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.01. The business had revenue of $599.80 million for the quarter, compared to analysts’ expectations of $593.34 million. Red Hat had a return on equity of 18.27% and a net margin of 9.93%. The company’s revenue for the quarter was up 19.0% compared to the same quarter last year. During the same period last year, the firm earned $0.47 earnings per share. Equities analysts predict that Red Hat Inc. will post $2.21 EPS for the current year.

Several research firms have weighed in on RHT. Vetr upgraded Red Hat from a “buy” rating to a “strong-buy” rating and set a $81.54 price target for the company in a report on Thursday, September 8th. Jefferies Group restated a “hold” rating and set a $75.00 price target on shares of Red Hat in a report on Saturday, June 25th. Deutsche Bank AG restated a “buy” rating on shares of Red Hat in a report on Friday, June 17th. Barclays PLC restated a “buy” rating and set a $90.00 price target on shares of Red Hat in a report on Thursday, September 15th. Finally, Morgan Stanley cut Red Hat from an “overweight” rating to an “equal weight” rating and raised their price target for the company from $72.18 to $80.00 in a report on Thursday, July 7th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, five have issued a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company’s stock. Red Hat currently has an average rating of “Buy” and an average target price of $87.69.

In other news, EVP Michael Cunningham sold 10,000 shares of the stock in a transaction on Tuesday, July 26th. The stock was sold at an average price of $75.00, for a total value of $750,000.00. Following the sale, the executive vice president now directly owns 52,484 shares in the company, valued at $3,936,300. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Delisa Alexander sold 2,395 shares of the stock in a transaction on Tuesday, July 19th. The shares were sold at an average price of $72.83, for a total value of $174,427.85. Following the completion of the sale, the executive vice president now owns 60,780 shares in the company, valued at $4,426,607.40. The disclosure for this sale can be found here. 0.76% of the stock is 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.

5 Day Chart for NYSE:RHT

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