Schroder Investment Management Group boosted its position in Red Hat Inc. (NYSE:RHT) by 0.3% during the second quarter, Holdings Channel reports. The institutional investor owned 53,587 shares of the open-source software company’s stock after buying an additional 135 shares during the period. Schroder Investment Management Group’s holdings in Red Hat were worth $3,890,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Hills Bank & Trust Co. bought a new stake in Red Hat during the second quarter worth about $222,000. Acrospire Investment Management LLC bought a new stake in Red Hat during the first quarter worth about $261,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp bought a new stake in Red Hat during the second quarter worth about $290,000. Creative Planning raised its stake in Red Hat by 4.5% in the second quarter. Creative Planning now owns 4,019 shares of the open-source software company’s stock worth $292,000 after buying an additional 174 shares during the last quarter. Finally, YHB Investment Advisors Inc. bought a new stake in Red Hat during the second quarter worth about $302,000. Institutional investors and hedge funds own 95.22% of the company’s stock.
Red Hat Inc. (NYSE:RHT) traded up 0.01% during midday trading on Tuesday, hitting $75.95. The stock had a trading volume of 948,768 shares. The company has a market cap of $13.75 billion, a PE ratio of 66.62 and a beta of 1.32. The stock’s 50 day moving average price is $73.93 and its 200-day moving average price is $74.03. Red Hat Inc. has a 52 week low of $59.59 and a 52 week high of $84.44.
A number of equities research analysts recently issued reports on the company. BMO Capital Markets reaffirmed an “outperform” rating and issued a $85.00 target price (down previously from $88.00) on shares of Red Hat in a research note on Thursday, June 23rd. Stifel Nicolaus reissued a “buy” rating on shares of Red Hat in a research note on Thursday, June 23rd. Deutsche Bank AG reissued a “buy” rating and set a $95.00 price target on shares of Red Hat in a research note on Thursday, June 23rd. Needham & Company LLC reissued a “buy” rating and set a $98.00 price target on shares of Red Hat in a research note on Saturday, July 2nd. Finally, Vetr lowered Red Hat from a “strong-buy” rating to a “buy” rating and set a $82.50 price target on the stock. in a research note on Monday, August 22nd. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. Red Hat presently has an average rating of “Buy” and an average price target of $87.69.
In other Red Hat news, EVP Delisa Alexander sold 2,395 shares of the company’s stock in a transaction that occurred on Tuesday, July 19th. The shares were sold at an average price of $72.83, for a total value of $174,427.85. Following the completion of the sale, the executive vice president now owns 60,780 shares of the company’s stock, valued at $4,426,607.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michael Cunningham sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, July 11th. The shares were sold at an average price of $73.14, for a total transaction of $731,400.00. Following the completion of the sale, the executive vice president now directly owns 64,800 shares of the company’s stock, valued at approximately $4,739,472. The disclosure for this sale can be found here. 0.76% of the stock is currently owned by company 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.
Want to see what other hedge funds are holding RHT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Red Hat Inc. (NYSE:RHT).
Receive News & Ratings for Red Hat Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Red Hat Inc. and related companies with MarketBeat.com's FREE daily email newsletter.