DF Dent & Co. Inc. Cuts Holdings in Red Hat, Inc. (RHT)

DF Dent & Co. Inc. reduced its stake in shares of Red Hat, Inc. (NYSE:RHT) by 9.4% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 1,633,197 shares of the open-source software company’s stock after selling 170,298 shares during the period. Red Hat makes up approximately 4.1% of DF Dent & Co. Inc.’s portfolio, making the stock its 2nd biggest holding. DF Dent & Co. Inc. owned 0.92% of Red Hat worth $156,379,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. D.A. Davidson & CO. grew its position in Red Hat by 6.8% during the 2nd quarter. D.A. Davidson & CO. now owns 1,071 shares of the open-source software company’s stock worth $102,000 after purchasing an additional 68 shares during the period. Clear Perspective Advisors LLC acquired a new stake in Red Hat during the 2nd quarter worth about $112,000. Sun Life Financial INC grew its position in Red Hat by 14,837.5% during the 2nd quarter. Sun Life Financial INC now owns 1,195 shares of the open-source software company’s stock worth $114,000 after purchasing an additional 1,187 shares during the period. Shine Investment Advisory Services Inc. acquired a new stake in Red Hat during the 2nd quarter worth about $117,000. Finally, State of Alaska Department of Revenue acquired a new stake in Red Hat during the 2nd quarter worth about $122,000. 94.03% of the stock is currently owned by institutional investors.

In related news, Director William S. Kaiser sold 14,000 shares of the firm’s stock in a transaction that occurred 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Delisa Alexander sold 2,444 shares of the firm’s stock in a transaction that occurred on Tuesday, July 18th. The stock was sold at an average price of $98.25, for a total transaction of $240,123.00. Following the sale, the executive vice president now owns 41,570 shares in the company, valued at approximately $4,084,252.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 39,087 shares of company stock worth $4,227,191. 0.66% of the stock is owned by company insiders.

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A number of equities research analysts have recently commented on the company. J P Morgan Chase & Co restated an “overweight” rating and set a $117.00 target price (up from $110.00) on shares of Red Hat in a research report on Tuesday, September 26th. Drexel Hamilton restated a “buy” rating and set a $127.00 target price on shares of Red Hat in a research report on Tuesday, September 19th. KeyCorp restated an “overweight” rating and set a $125.00 target price (up from $121.00) on shares of Red Hat in a research report on Tuesday, September 26th. Sanford C. Bernstein restated a “market perform” rating and set a $136.00 target price (up from $115.00) on shares of Red Hat in a research report on Tuesday, September 26th. Finally, 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 research report on Wednesday, June 21st. Ten analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. Red Hat presently has a consensus rating of “Buy” and an average target price of $110.93.

Red Hat, Inc. (RHT) traded up 0.16% during mid-day trading on Tuesday, hitting $117.26. 377,677 shares of the stock traded hands. The stock’s 50 day moving average is $108.19 and its 200-day moving average is $96.14. The company has a market cap of $20.75 billion, a price-to-earnings ratio of 70.17 and a beta of 1.25. Red Hat, Inc. has a 12 month low of $68.54 and a 12 month high of $117.97.

Red Hat (NYSE:RHT) last announced its earnings results on Monday, September 25th. The open-source software company reported $0.77 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.10. Red Hat had a net margin of 11.49% and a return on equity of 25.27%. The firm had revenue of $723.60 million for the quarter, compared to analyst estimates of $699.56 million. During the same quarter last year, the business earned $0.55 earnings per share. Red Hat’s revenue was up 20.6% compared to the same quarter last year. On average, equities research analysts anticipate that Red Hat, Inc. will post $2.79 EPS for the current year.

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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