Barings LLC cut its holdings in shares of Red Hat Inc (NYSE:RHT) by 4.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,885 shares of the open-source software company’s stock after selling 460 shares during the period. Barings LLC’s holdings in Red Hat were worth $985,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. D.A. Davidson & CO. grew its position in Red Hat by 6.8% in 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 buying an additional 68 shares during the last quarter. Nordea Investment Management AB boosted its position in shares of Red Hat by 1.3% during the 2nd quarter. Nordea Investment Management AB now owns 7,011 shares of the open-source software company’s stock worth $671,000 after purchasing an additional 92 shares in the last quarter. Gyroscope Capital Management Group LLC boosted its position in shares of Red Hat by 4.0% during the 2nd quarter. Gyroscope Capital Management Group LLC now owns 2,429 shares of the open-source software company’s stock worth $233,000 after purchasing an additional 93 shares in the last quarter. Outfitter Advisors LTD. boosted its position in shares of 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 worth $1,065,000 after purchasing an additional 100 shares in the last quarter. Finally, Gofen & Glossberg LLC IL boosted its position in shares of Red Hat by 0.3% during the 2nd quarter. Gofen & Glossberg LLC IL now owns 44,097 shares of the open-source software company’s stock worth $4,222,000 after purchasing an additional 151 shares in the last quarter. Institutional investors and hedge funds own 93.85% of the company’s stock.

Red Hat Inc (NYSE RHT) traded down $1.50 during midday trading on Monday, hitting $125.26. 1,433,000 shares of the stock were exchanged, compared to its average volume of 1,651,465. Red Hat Inc has a one year low of $68.54 and a one year high of $129.61. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.30 and a current ratio of 1.30. The firm has a market cap of $22,160.00, a P/E ratio of 68.82, a P/E/G ratio of 3.98 and a beta of 1.19.

Red Hat (NYSE:RHT) last posted its quarterly earnings data on Monday, September 25th. The open-source software company reported $0.77 EPS for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.10. Red Hat had a net margin of 11.49% and a return on equity of 25.27%. The company had revenue of $723.60 million during the quarter, compared to the consensus estimate of $699.56 million. During the same quarter in the prior year, the company posted $0.55 EPS. The company’s quarterly revenue was up 20.6% compared to the same quarter last year. analysts expect that Red Hat Inc will post 2 EPS for the current fiscal year.

In other news, insider Michael A. Kelly sold 2,888 shares of the company’s stock in a transaction dated Wednesday, October 18th. The shares were sold at an average price of $121.03, for a total transaction of $349,534.64. Following the completion of the transaction, the insider now owns 8,751 shares of the company’s stock, valued at approximately $1,059,133.53. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO James M. Whitehurst sold 4,211 shares of the company’s stock in a transaction dated Tuesday, October 17th. The shares were sold at an average price of $120.36, for a total transaction of $506,835.96. Following the transaction, the chief executive officer now directly owns 380,158 shares of the company’s stock, valued at approximately $45,755,816.88. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 34,172 shares of company stock valued at $3,926,377. Corporate insiders own 0.66% of the company’s stock.

Several brokerages have commented on RHT. J P Morgan Chase & Co restated an “overweight” rating and set a $117.00 target price (up from $110.00) on shares of Red Hat in a research report on Tuesday, September 26th. Drexel Hamilton restated a “buy” rating and set a $127.00 target price on shares of Red Hat in a research report on Tuesday, September 19th. KeyCorp reaffirmed an “overweight” rating and set a $125.00 price target (up previously from $121.00) on shares of Red Hat in a research note on Tuesday, September 26th. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $136.00 price target (up previously from $115.00) on shares of Red Hat in a research note on Tuesday, September 26th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $98.00 price target (down previously from $120.00) on shares of Red Hat in a research note on Tuesday, September 26th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and twenty-four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $111.24.

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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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