Colony Group LLC Acquires 1,604 Shares of Red Hat, Inc. (RHT)

Colony Group LLC boosted its holdings in shares of Red Hat, Inc. (NYSE:RHT) by 1.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 113,237 shares of the open-source software company’s stock after buying an additional 1,604 shares during the quarter. Colony Group LLC owned 0.06% of Red Hat worth $10,842,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. D.A. Davidson & CO. raised 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 buying an additional 68 shares during the last quarter. Clear Perspective Advisors LLC acquired a new stake in shares of Red Hat during the 2nd quarter worth approximately $112,000. Sun Life Financial INC grew its stake in shares of 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 shares of Red Hat during the 2nd quarter worth approximately $117,000. Finally, State of Alaska Department of Revenue acquired a new stake in shares of Red Hat during the 2nd quarter worth approximately $122,000. 94.03% of the stock is owned by institutional investors.

A number of research firms recently issued reports on RHT. Deutsche Bank AG reissued a “buy” rating and issued a $120.00 price target (up previously from $110.00) on shares of Red Hat in a research note on Tuesday, September 26th. Robert W. Baird raised their price objective on Red Hat from $90.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, June 21st. Mizuho decreased their price objective on Red Hat from $109.00 to $96.00 and set a “buy” rating on the stock in a report on Wednesday, June 21st. Wells Fargo & Company restated an “outperform” rating and issued a $120.00 price objective (up previously from $115.00) on shares of Red Hat in a report on Tuesday, September 19th. Finally, Morgan Stanley restated an “equal weight” rating and issued a $98.00 price objective (up previously from $90.00) on shares of Red Hat in a report on Wednesday, June 21st. Ten equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. Red Hat presently has an average rating of “Buy” and a consensus target price of $110.93.

In other news, Director William S. Kaiser sold 14,000 shares of the firm’s stock in a transaction dated Thursday, October 5th. The stock was sold at an average price of $114.79, for a total value of $1,607,060.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO James M. Whitehurst sold 12,000 shares of the firm’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $111.15, for a total value of $1,333,800.00. Following the completion of the transaction, the chief executive officer now owns 392,979 shares of the company’s stock, valued at approximately $43,679,615.85. The disclosure for this sale can be found here. In the last quarter, insiders have sold 39,087 shares of company stock valued at $4,227,191. Corporate insiders own 0.66% of the company’s stock.

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Shares of Red Hat, Inc. (NYSE RHT) traded up 0.05% on Friday, hitting $120.97. The stock had a trading volume of 641,942 shares. Red Hat, Inc. has a one year low of $68.54 and a one year high of $122.31. The firm has a 50 day moving average price of $109.54 and a 200 day moving average price of $96.74. The company has a market capitalization of $21.41 billion, a P/E ratio of 72.39 and a beta of 1.25.

Red Hat (NYSE:RHT) last released 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. The firm had revenue of $723.60 million during the quarter, compared to analysts’ expectations of $699.56 million. Red Hat had a return on equity of 25.27% and a net margin of 11.49%. The company’s revenue was up 20.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.55 EPS. On average, equities research analysts predict that Red Hat, Inc. will post $2.79 earnings per share for the current fiscal 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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