California Public Employees Retirement System lifted its stake in shares of Red Hat Inc (NYSE:RHT) by 5.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 407,340 shares of the open-source software company’s stock after purchasing an additional 21,640 shares during the period. California Public Employees Retirement System owned 0.23% of Red Hat worth $45,158,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of RHT. Global X Management Co. LLC increased its stake in shares of Red Hat by 91.3% during the 2nd quarter. Global X Management Co. LLC now owns 1,542 shares of the open-source software company’s stock worth $148,000 after purchasing an additional 736 shares during the last quarter. Canada Pension Plan Investment Board grew its stake in Red Hat by 303.8% in the 2nd quarter. Canada Pension Plan Investment Board now owns 59,878 shares of the open-source software company’s stock valued at $5,733,000 after buying an additional 45,048 shares in the last quarter. Wetherby Asset Management Inc. purchased a new position in Red Hat in the 2nd quarter valued at approximately $219,000. Schwab Charles Investment Management Inc. grew its stake in Red Hat by 8.1% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 652,768 shares of the open-source software company’s stock valued at $62,503,000 after buying an additional 48,777 shares in the last quarter. Finally, Teacher Retirement System of Texas purchased a new position in Red Hat in the 2nd quarter valued at approximately $2,307,000. Institutional investors own 93.85% of the company’s stock.

In other news, Director William S. Kaiser sold 14,000 shares of Red Hat stock in a transaction on Thursday, October 5th. The shares were sold at an average price of $114.79, for a total transaction of $1,607,060.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael A. Kelly sold 2,888 shares of Red Hat stock in a transaction on Wednesday, October 18th. The stock was sold at an average price of $121.03, for a total transaction of $349,534.64. Following the sale, the insider now directly owns 8,751 shares of the company’s stock, valued at $1,059,133.53. The disclosure for this sale can be found here. Insiders have sold a total of 34,172 shares of company stock valued at $3,926,377 over the last ninety days. 0.66% of the stock is currently owned by insiders.

Red Hat Inc (NYSE:RHT) traded down $0.36 during midday trading on Friday, hitting $126.13. 1,287,700 shares of the stock were exchanged, compared to its average volume of 1,651,284. Red Hat Inc has a 52 week low of $68.54 and a 52 week high of $129.61. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.30 and a quick ratio of 1.30. The company has a market cap of $22,551.65, a P/E ratio of 69.50, a P/E/G ratio of 4.02 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 period in the previous year, the firm posted $0.55 EPS. The firm’s revenue was up 20.6% compared to the same quarter last year. sell-side analysts predict that Red Hat Inc will post 2 earnings per share for the current fiscal year.

A number of research analysts recently weighed in on RHT shares. Zacks Investment Research upgraded shares of Red Hat from a “hold” rating to a “buy” rating and set a $120.00 price objective for the company in a research note on Thursday, September 21st. Stifel Nicolaus reiterated a “buy” rating and issued a $115.00 price objective on shares of Red Hat in a research note on Wednesday, September 20th. Drexel Hamilton reiterated a “buy” rating and issued a $127.00 price objective on shares of Red Hat in a research note on Tuesday, September 19th. Moffett Nathanson started coverage on shares of Red Hat in a research note on Wednesday, September 6th. They issued a “buy” rating for the company. Finally, Mizuho reiterated a “buy” rating and issued a $125.00 price objective (up from $109.00) 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 stock. Red Hat currently has an average rating of “Buy” and a consensus price target of $115.74.

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About Red Hat

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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