New Mexico Educational Retirement Board reduced its stake in Red Hat, Inc. (NYSE:RHT) by 8.3% during the second quarter, according to its most recent filing with the SEC. The fund owned 16,548 shares of the open-source software company’s stock after selling 1,500 shares during the period. New Mexico Educational Retirement Board’s holdings in Red Hat were worth $1,636,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Shine Investment Advisory Services Inc. acquired a new stake in shares of Red Hat during the second quarter valued at approximately $117,000. State of Alaska Department of Revenue acquired a new stake in shares of Red Hat during the second quarter valued at approximately $122,000. Bronfman E.L. Rothschild L.P. boosted its stake in shares of Red Hat by 1.4% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 1,521 shares of the open-source software company’s stock valued at $132,000 after buying an additional 21 shares during the period. YorkBridge Wealth Partners LLC boosted its stake in shares of Red Hat by 102.4% in the first quarter. YorkBridge Wealth Partners LLC now owns 1,538 shares of the open-source software company’s stock valued at $136,000 after buying an additional 778 shares during the period. Finally, Global X Management Co. LLC boosted its stake in shares of Red Hat by 91.3% in the second quarter. Global X Management Co. LLC now owns 1,542 shares of the open-source software company’s stock valued at $148,000 after buying an additional 736 shares during the period. Hedge funds and other institutional investors own 94.27% of the company’s stock.

Shares of Red Hat, Inc. (NYSE:RHT) opened at 98.34 on Friday. The company has a 50 day moving average price of $97.93 and a 200 day moving average price of $88.38. The company has a market cap of $17.45 billion, a PE ratio of 67.36 and a beta of 1.26. Red Hat, Inc. has a 52 week low of $68.54 and a 52 week high of $101.73.

Red Hat (NYSE:RHT) last announced its earnings results on Tuesday, June 20th. The open-source software company reported $0.56 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.03. Red Hat had a return on equity of 22.84% and a net margin of 10.54%. The business had revenue of $677 million for the quarter, compared to analyst estimates of $647.42 million. During the same quarter last year, the firm earned $0.50 EPS. Red Hat’s revenue for the quarter was up 19.2% compared to the same quarter last year. On average, equities analysts expect that Red Hat, Inc. will post $2.66 earnings per share for the current year.

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Several equities research analysts have commented on RHT shares. Mizuho dropped their price target on shares of Red Hat from $109.00 to $96.00 and set a “buy” rating on the stock in a research report on Wednesday, June 21st. Deutsche Bank AG boosted their price target on shares of Red Hat from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, June 21st. Goldman Sachs Group, Inc. (The) boosted their price target on shares of Red Hat from $85.00 to $97.00 and gave the stock a “buy” rating in a research report on Wednesday, June 21st. BTIG Research dropped their price target on shares of Red Hat from $120.00 to $95.00 and set a “buy” rating on the stock in a research report on Wednesday, June 21st. Finally, Stifel Nicolaus upgraded shares of Red Hat from a “hold” rating to a “buy” rating and boosted their price target for the stock from $83.00 to $115.00 in a research report on Wednesday, June 21st. Nine investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. Red Hat currently has a consensus rating of “Buy” and an average target price of $98.72.

In related news, CFO Eric Ryan Shander sold 1,521 shares of Red Hat stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $99.98, for a total value of $152,069.58. Following the sale, the chief financial officer now owns 9,913 shares of the company’s stock, valued at approximately $991,101.74. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Paul J. Cormier sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $90.35, for a total value of $2,710,500.00. Following the completion of the transaction, the executive vice president now owns 249,578 shares of the company’s stock, valued at $22,549,372.30. The disclosure for this sale can be found here. In the last three months, insiders sold 130,549 shares of company stock worth $12,133,438. 0.66% 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.

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

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