Candriam Luxembourg S.C.A. cut its stake in shares of Red Hat, Inc. (NYSE:RHT) by 5.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,484 shares of the open-source software company’s stock after selling 758 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Red Hat were worth $1,291,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the stock. State of Alaska Department of Revenue bought a new stake in Red Hat during the second quarter valued at $122,000. Bronfman E.L. Rothschild L.P. increased its stake in 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 increased its stake in 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. CENTRAL TRUST Co increased its stake in Red Hat by 8.2% in the first quarter. CENTRAL TRUST Co now owns 1,839 shares of the open-source software company’s stock valued at $159,000 after buying an additional 139 shares during the period. Finally, Point72 Asia Hong Kong Ltd bought a new stake in Red Hat during the first quarter valued at $170,000. 94.27% of the stock is owned by hedge funds and other institutional investors.

Red Hat, Inc. (NYSE RHT) opened at 98.34 on Friday. The company has a market cap of $17.45 billion, a price-to-earnings ratio of 67.36 and a beta of 1.26. Red Hat, Inc. has a one year low of $68.54 and a one year high of $101.73. The stock has a 50 day moving average of $97.93 and a 200-day moving average of $88.38.

Red Hat (NYSE:RHT) last released its 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 firm had revenue of $677 million for the quarter, compared to the consensus estimate of $647.42 million. During the same quarter in the previous year, the firm earned $0.50 earnings per share. The company’s quarterly revenue was up 19.2% compared to the same quarter last year. On average, equities analysts predict that Red Hat, Inc. will post $2.66 EPS for the current fiscal year.

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Several research firms have recently commented on RHT. MKM Partners reissued a “neutral” rating and set a $98.00 target price (up from $82.00) on shares of Red Hat in a research report on Friday, June 23rd. Rosenblatt Securities reissued a “buy” rating and set a $112.00 target price (up from $95.00) on shares of Red Hat in a research report on Thursday, June 22nd. Jefferies Group LLC reissued a “hold” rating on shares of Red Hat in a research report on Thursday, June 22nd. Piper Jaffray Companies began coverage on shares of Red Hat in a research report on Friday, June 23rd. They set a “neutral” rating and a $100.00 target price for the company. Finally, Zacks Investment Research raised shares of Red Hat from a “hold” rating to a “buy” rating and set a $111.00 target price for the company in a research report on Friday, June 23rd. Nine research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. Red Hat has a consensus rating of “Buy” and a consensus price target of $98.72.

In related news, EVP Paul J. Cormier sold 30,000 shares of the business’s stock in a transaction 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 sale, the executive vice president now owns 249,578 shares in the company, valued at $22,549,372.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Eric Ryan Shander sold 1,521 shares of the business’s stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $99.98, for a total transaction of $152,069.58. Following the completion of the sale, the chief financial officer now owns 9,913 shares in the company, valued at approximately $991,101.74. The disclosure for this sale can be found here. Insiders sold 130,549 shares of company stock worth $12,133,438 in the last three months. 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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