Red Hat, Inc. (RHT) Position Boosted by Raymond James Trust N.A.

Raymond James Trust N.A. boosted its position in Red Hat, Inc. (NYSE:RHT) by 15.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,518 shares of the open-source software company’s stock after buying an additional 474 shares during the period. Raymond James Trust N.A.’s holdings in Red Hat were worth $337,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Bronfman E.L. Rothschild L.P. raised its holdings in shares of Red Hat by 1.4% during 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 purchasing an additional 21 shares during the period. Mason Street Advisors LLC raised its holdings in shares of Red Hat by 0.3% during 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 purchasing an additional 70 shares during the period. Nordea Investment Management AB raised its holdings in shares of Red Hat by 1.0% during 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 purchasing an additional 70 shares during the period. Advantus Capital Management Inc raised its holdings in shares of Red Hat by 0.5% during 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 purchasing an additional 93 shares during the period. Finally, RB Capital Management LLC raised its holdings in shares of Red Hat by 2.6% during the second quarter. RB Capital Management LLC now owns 3,875 shares of the open-source software company’s stock valued at $371,000 after purchasing an additional 100 shares during the period. Institutional investors and hedge funds own 94.00% of the company’s stock.

In other Red Hat news, Director William S. Kaiser sold 4,006 shares of Red Hat stock in a transaction that occurred on Friday, June 30th. The shares were 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 $8,853,045.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO James M. Whitehurst sold 12,000 shares of Red Hat stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $95.70, for a total transaction of $1,148,400.00. Following the transaction, the chief executive officer now directly owns 422,873 shares in the company, valued at approximately $40,468,946.10. The disclosure for this sale can be found here. Insiders have sold 44,087 shares of company stock worth $4,265,012 in the last ninety days. Insiders own 0.66% of the company’s stock.

RHT has been the subject of several recent research reports. Sanford C. Bernstein initiated coverage on shares of Red Hat in a research report on Wednesday, May 24th. They set a “market perform” rating and a $102.00 target price for the company. Stifel Nicolaus raised shares of Red Hat from a “hold” rating to a “buy” rating and boosted their target price for the stock from $83.00 to $115.00 in a research report on Wednesday, June 21st. BMO Capital Markets boosted their target price on shares of Red Hat from $90.00 to $107.00 and gave the stock a “market perform” rating in a research report on Wednesday, June 21st. Robert W. Baird boosted their target price on shares of Red Hat from $90.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 21st. Finally, Pacific Crest decreased their target price on shares of Red Hat from $115.00 to $97.00 and set an “overweight” rating for the company in a research report on Wednesday, June 21st. Eleven equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $101.46.

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Shares of Red Hat, Inc. (RHT) opened at 107.44 on Tuesday. The stock has a market capitalization of $19.07 billion, a PE ratio of 73.59 and a beta of 1.24. Red Hat, Inc. has a 1-year low of $68.54 and a 1-year high of $108.39. The firm has a 50-day moving average of $103.20 and a 200 day moving average of $93.10.

Red Hat (NYSE:RHT) last issued its quarterly earnings results on Tuesday, June 20th. The open-source software company reported $0.56 earnings per share for the quarter, beating 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 $677.00 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 revenue for the quarter was up 19.2% on a year-over-year basis. Analysts predict that Red Hat, Inc. will post $2.69 EPS for the current year.

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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