Airain ltd boosted its stake in shares of Red Hat, Inc. (NYSE:RHT) by 59.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,812 shares of the open-source software company’s stock after buying an additional 5,535 shares during the period. Airain ltd’s holdings in Red Hat were worth $1,418,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Shine Investment Advisory Services Inc. bought a new stake in shares of Red Hat during the second quarter valued at approximately $117,000. State of Alaska Department of Revenue bought a new stake in shares of Red Hat during the second quarter valued at approximately $122,000. Bronfman E.L. Rothschild L.P. increased 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 last quarter. YorkBridge Wealth Partners LLC increased 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 last quarter. Finally, Global X Management Co. LLC increased 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 last quarter. 94.21% of the stock is currently owned by institutional investors and hedge funds.

Red Hat, Inc. (NYSE RHT) opened at 107.50 on Friday. Red Hat, Inc. has a 52-week low of $68.54 and a 52-week high of $107.77. The firm has a market cap of $19.08 billion, a price-to-earnings ratio of 73.63 and a beta of 1.26. The company’s 50-day moving average price is $100.54 and its 200-day moving average price is $91.01.

Red Hat (NYSE:RHT) last issued its earnings results on Tuesday, June 20th. The open-source software company reported $0.56 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $647.42 million. During the same period in the prior year, the firm posted $0.50 EPS. Red Hat’s quarterly revenue was up 19.2% compared to the same quarter last year. Analysts predict that Red Hat, Inc. will post $2.68 EPS for the current year.

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RHT has been the topic of several analyst reports. Goldman Sachs Group, Inc. (The) raised their target price on Red Hat from $85.00 to $97.00 and gave the company a “buy” rating in a report on Wednesday, June 21st. BTIG Research dropped their target price on Red Hat from $120.00 to $95.00 and set a “buy” rating on the stock in a report on Wednesday, June 21st. Mizuho dropped their target price on Red Hat from $109.00 to $96.00 and set a “buy” rating on the stock in a report on Wednesday, June 21st. Deutsche Bank AG raised their target price on Red Hat from $100.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, June 21st. Finally, Stifel Nicolaus upgraded Red Hat from a “hold” rating to a “buy” rating and raised their target price for the company from $83.00 to $115.00 in a report on Wednesday, June 21st. Ten equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. Red Hat presently has a consensus rating of “Buy” and an average target price of $98.72.

In other news, Director William S. Kaiser sold 4,006 shares of the stock in a transaction that occurred on Friday, June 30th. The stock was sold at an average price of $96.43, for a total value of $386,298.58. Following the completion of the transaction, the director now directly owns 91,808 shares of the company’s stock, valued at approximately $8,853,045.44. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Paul J. Cormier sold 30,000 shares of the stock in a transaction that occurred on Tuesday, June 6th. The stock was sold at an average price of $91.16, for a total value of $2,734,800.00. Following the completion of the transaction, the executive vice president now directly owns 219,578 shares of the company’s stock, valued at $20,016,730.48. The disclosure for this sale can be found here. Over the last three months, insiders sold 100,549 shares of company stock valued at $9,422,938. 0.66% of the stock is currently 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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