Strs Ohio Sells 329,370 Shares of Red Hat, Inc. (RHT)

Strs Ohio reduced its position in Red Hat, Inc. (NYSE:RHT) by 55.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 265,700 shares of the open-source software company’s stock after selling 329,370 shares during the period. Strs Ohio owned approximately 0.15% of Red Hat worth $25,440,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in RHT. US Bancorp DE increased its stake in shares of Red Hat by 1.0% in the second quarter. US Bancorp DE now owns 84,508 shares of the open-source software company’s stock worth $8,091,000 after buying an additional 870 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec increased its stake in shares of Red Hat by 6.9% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 17,104 shares of the open-source software company’s stock worth $1,481,000 after buying an additional 1,100 shares during the last quarter. Toronto Dominion Bank increased its stake in shares of Red Hat by 55.3% in the first quarter. Toronto Dominion Bank now owns 48,126 shares of the open-source software company’s stock worth $4,163,000 after buying an additional 17,143 shares during the last quarter. FMR LLC increased its stake in shares of Red Hat by 3.3% in the first quarter. FMR LLC now owns 10,079,689 shares of the open-source software company’s stock worth $871,894,000 after buying an additional 317,464 shares during the last quarter. Finally, Comerica Bank increased its stake in shares of Red Hat by 0.7% in the first quarter. Comerica Bank now owns 103,913 shares of the open-source software company’s stock worth $9,160,000 after buying an additional 740 shares during the last quarter. 93.23% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Red Hat, Inc. (RHT) opened at 100.43 on Friday. Red Hat, Inc. has a one year low of $68.54 and a one year high of $101.82. The stock’s 50 day moving average is $98.41 and its 200-day moving average is $89.27. The company has a market cap of $17.82 billion, a PE ratio of 68.79 and a beta of 1.26.

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

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A number of equities research analysts have recently issued reports on RHT shares. Zacks Investment Research raised shares of Red Hat from a “hold” rating to a “strong-buy” rating and set a $101.00 price target on the stock in a report on Tuesday, May 2nd. Drexel Hamilton reaffirmed a “buy” rating and issued a $127.00 target price (up from $110.00) on shares of Red Hat in a research note on Wednesday, June 21st. Piper Jaffray Companies started coverage on shares of Red Hat in a research note on Friday, June 23rd. They issued a “neutral” rating and a $100.00 target price on the stock. Deutsche Bank AG raised their target price on shares of Red Hat from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, June 21st. Finally, Bank of America Corporation reaffirmed a “neutral” rating and issued a $105.00 target price (up from $92.00) on shares of Red Hat in a research note on Wednesday, June 21st. Nine research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $98.72.

In other news, Director William S. Kaiser sold 4,006 shares of the stock in a transaction on Friday, June 30th. The stock was sold at an average price of $96.43, for a total transaction of $386,298.58. Following the transaction, the director now owns 91,808 shares of the company’s stock, valued at approximately $8,853,045.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Eric Ryan Shander sold 1,521 shares of the stock in a transaction 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 transaction, the chief financial officer now directly owns 9,913 shares in the company, valued at approximately $991,101.74. The disclosure for this sale can be found here. Insiders have sold a total of 130,549 shares of company stock worth $12,133,438 in the last three months. Corporate 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.

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

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