First Trust Advisors LP boosted its stake in Red Hat, Inc. (NYSE:RHT) by 46.3% during the second quarter, Holdings Channel reports. The firm owned 609,295 shares of the open-source software company’s stock after buying an additional 192,814 shares during the period. First Trust Advisors LP’s holdings in Red Hat were worth $58,340,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bronfman E.L. Rothschild L.P. increased its position 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 last quarter. Mason Street Advisors LLC increased its position in Red Hat by 0.3% in the first quarter. Mason Street Advisors LLC now owns 24,638 shares of the open-source software company’s stock valued at $2,131,000 after buying an additional 70 shares during the last quarter. Nordea Investment Management AB increased its position in Red Hat by 1.0% in the first quarter. Nordea Investment Management AB now owns 6,919 shares of the open-source software company’s stock valued at $598,000 after buying an additional 70 shares during the last quarter. Advantus Capital Management Inc increased its position in Red Hat by 0.5% in the first quarter. Advantus Capital Management Inc now owns 17,955 shares of the open-source software company’s stock valued at $1,553,000 after buying an additional 93 shares during the last quarter. Finally, Outfitter Advisors LTD. increased its position in Red Hat by 0.9% in the first quarter. Outfitter Advisors LTD. now owns 11,020 shares of the open-source software company’s stock valued at $953,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 94.27% of the company’s stock.

Red Hat, Inc. (NYSE:RHT) opened at 98.34 on Friday. The stock’s 50 day moving average is $97.93 and its 200-day moving average is $88.38. The firm has a market capitalization of $17.45 billion, a price-to-earnings ratio of 67.36 and a beta of 1.26. Red Hat, Inc. has a 12 month low of $68.54 and a 12 month high of $101.73.

Red Hat (NYSE:RHT) last posted 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 business had revenue of $677 million for the quarter, compared to the consensus estimate of $647.42 million. During the same period last year, the company earned $0.50 EPS. The firm’s revenue was up 19.2% compared to the same quarter last year. Equities analysts anticipate that Red Hat, Inc. will post $2.66 earnings per share for the current fiscal year.

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RHT has been the topic of several research reports. Zacks Investment Research upgraded shares of Red Hat from a “hold” rating to a “strong-buy” rating and set a $101.00 price objective on the stock in a report on Tuesday, May 2nd. BTIG Research dropped their price objective on shares of Red Hat from $120.00 to $95.00 and set a “buy” rating on the stock in a report on Wednesday, June 21st. Oppenheimer Holdings, Inc. restated an “outperform” rating and set a $96.00 price objective (up previously from $94.00) on shares of Red Hat in a report on Wednesday, May 10th. Sanford C. Bernstein initiated coverage on shares of Red Hat in a report on Wednesday, May 24th. They set a “market perform” rating and a $102.00 price objective on the stock. Finally, Rosenblatt Securities restated a “buy” rating and set a $112.00 price objective (up previously from $95.00) on shares of Red Hat in a report on Thursday, June 22nd. Nine analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. Red Hat has an average rating of “Buy” and an average target price of $98.72.

In related news, EVP Paul J. Cormier sold 30,000 shares of Red Hat stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $90.35, for a total transaction of $2,710,500.00. Following the sale, the executive vice president now directly owns 249,578 shares in the company, valued at approximately $22,549,372.30. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 transaction of $152,069.58. Following the sale, the chief financial officer now owns 9,913 shares in the company, valued at $991,101.74. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 130,549 shares of company stock worth $12,133,438. 0.66% of the stock is owned by corporate 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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