Mitsubishi UFJ Kokusai Asset Management Co. Ltd. cut its position in shares of Red Hat, Inc. (NYSE:RHT) by 11.3% during the second quarter, Holdings Channel reports. The fund owned 25,649 shares of the open-source software company’s stock after selling 3,258 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Red Hat were worth $2,456,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Korea Investment CORP boosted its stake in shares of Red Hat by 87.7% in the first quarter. Korea Investment CORP now owns 54,095 shares of the open-source software company’s stock worth $4,679,000 after buying an additional 25,281 shares during the last quarter. Westbourne Investment Advisors Inc. boosted its stake in shares of Red Hat by 133.4% in the first quarter. Westbourne Investment Advisors Inc. now owns 13,445 shares of the open-source software company’s stock worth $1,163,000 after buying an additional 7,685 shares during the last quarter. Personal Capital Advisors Corp purchased a new stake in shares of Red Hat during the first quarter worth $238,000. Mn Services Vermogensbeheer B.V. boosted its stake in shares of Red Hat by 3.8% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 4,790 shares of the open-source software company’s stock worth $387,000 after buying an additional 176 shares during the last quarter. Finally, Nicolet Bankshares Inc. boosted its stake in shares of Red Hat by 342.0% in the first quarter. Nicolet Bankshares Inc. now owns 3,965 shares of the open-source software company’s stock worth $343,000 after buying an additional 3,068 shares during the last quarter. 93.23% of the stock is owned by institutional investors and hedge funds.

Red Hat, Inc. (NYSE:RHT) opened at 99.74 on Tuesday. Red Hat, Inc. has a 12 month low of $68.54 and a 12 month high of $101.72. The firm has a market cap of $17.70 billion, a PE ratio of 68.32 and a beta of 1.26. The company has a 50-day moving average price of $97.94 and a 200 day moving average price of $88.74.

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 the consensus estimate of $0.53 by $0.03. Red Hat had a net margin of 10.54% and a return on equity of 22.84%. The business had revenue of $677 million for the quarter, compared to analysts’ expectations of $647.42 million. During the same quarter last year, the company posted $0.50 earnings per share. The company’s quarterly revenue was up 19.2% compared to the same quarter last year. Equities research analysts anticipate that Red Hat, Inc. will post $2.66 EPS for the current year.

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A number of brokerages have recently weighed in on RHT. MKM Partners reaffirmed a “neutral” rating and issued a $98.00 price objective (up from $82.00) on shares of Red Hat in a research note on Friday, June 23rd. Rosenblatt Securities reaffirmed a “buy” rating and issued a $112.00 price objective (up from $95.00) on shares of Red Hat in a research note on Thursday, June 22nd. Jefferies Group LLC reaffirmed a “hold” rating on shares of Red Hat in a research note on Thursday, June 22nd. Piper Jaffray Companies began coverage on Red Hat in a research note on Friday, June 23rd. They issued a “neutral” rating and a $100.00 price objective for the company. Finally, Zacks Investment Research raised Red Hat from a “hold” rating to a “buy” rating and set a $111.00 price objective for the company in a research note on Friday, June 23rd. Nine equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $98.72.

In other Red Hat news, EVP Paul J. Cormier sold 26,462 shares of the firm’s stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $91.57, for a total value of $2,423,125.34. Following the transaction, the executive vice president now owns 189,578 shares of the company’s stock, valued at $17,359,657.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Paul J. Cormier sold 30,000 shares of the firm’s stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $90.35, for a total transaction of $2,710,500.00. Following the completion of the transaction, the executive vice president now directly owns 249,578 shares in the company, valued at approximately $22,549,372.30. The disclosure for this sale can be found here. Insiders have sold 130,549 shares of company stock worth $12,133,438 in the last ninety days. Corporate insiders own 0.66% of the company’s stock.

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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