Robeco Institutional Asset Management B.V. Grows Position in Red Hat Inc (NYSE:RHT)

Robeco Institutional Asset Management B.V. grew its position in Red Hat Inc (NYSE:RHT) by 140.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 548,095 shares of the open-source software company’s stock after buying an additional 319,760 shares during the quarter. Robeco Institutional Asset Management B.V. owned 0.31% of Red Hat worth $74,695,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of RHT. Mutual of America Capital Management LLC grew its stake in Red Hat by 1.5% during the 2nd quarter. Mutual of America Capital Management LLC now owns 27,735 shares of the open-source software company’s stock worth $3,727,000 after purchasing an additional 418 shares in the last quarter. Meeder Asset Management Inc. grew its stake in Red Hat by 1.9% during the 2nd quarter. Meeder Asset Management Inc. now owns 23,215 shares of the open-source software company’s stock worth $3,119,000 after purchasing an additional 431 shares in the last quarter. Boltwood Capital Management grew its stake in Red Hat by 4.7% during the 3rd quarter. Boltwood Capital Management now owns 9,755 shares of the open-source software company’s stock worth $1,329,000 after purchasing an additional 437 shares in the last quarter. World Asset Management Inc grew its stake in Red Hat by 4.1% during the 2nd quarter. World Asset Management Inc now owns 12,136 shares of the open-source software company’s stock worth $1,631,000 after purchasing an additional 479 shares in the last quarter. Finally, State of Alaska Department of Revenue grew its stake in Red Hat by 1.6% during the 3rd quarter. State of Alaska Department of Revenue now owns 29,893 shares of the open-source software company’s stock worth $4,072,000 after purchasing an additional 483 shares in the last quarter. 96.99% of the stock is owned by institutional investors and hedge funds.

Shares of Red Hat stock traded down $0.20 on Monday, hitting $178.36. The stock had a trading volume of 2,584,100 shares, compared to its average volume of 2,206,820. Red Hat Inc has a 52-week low of $115.31 and a 52-week high of $179.49. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.23 and a current ratio of 1.23. The company has a market capitalization of $31.42 billion, a P/E ratio of 77.55, a PEG ratio of 4.64 and a beta of 0.70.

Red Hat (NYSE:RHT) last posted its earnings results on Wednesday, September 19th. The open-source software company reported $0.85 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.03. Red Hat had a return on equity of 31.80% and a net margin of 9.15%. The business had revenue of $822.75 million during the quarter, compared to the consensus estimate of $828.12 million. During the same period in the previous year, the business earned $0.77 EPS. The business’s quarterly revenue was up 13.7% on a year-over-year basis. As a group, analysts forecast that Red Hat Inc will post 2.57 earnings per share for the current year.

Several research analysts recently commented on RHT shares. Northland Securities cut Red Hat from an “outperform” rating to a “market perform” rating in a research note on Monday, October 29th. Royal Bank of Canada lowered their target price on Red Hat to $169.00 and set an “outperform” rating for the company in a research note on Monday, September 17th. Nomura cut Red Hat from a “buy” rating to a “hold” rating and upped their price objective for the stock from $175.00 to $190.00 in a research report on Tuesday, October 30th. Needham & Company LLC started coverage on Red Hat in a research report on Monday, October 22nd. They set a “buy” rating and a $183.00 price objective for the company. Finally, Deutsche Bank cut Red Hat from a “buy” rating to a “hold” rating and upped their price objective for the stock from $170.00 to $190.00 in a research report on Monday, October 29th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Red Hat currently has an average rating of “Hold” and an average target price of $163.48.

In other news, EVP Delisa Alexander sold 960 shares of the business’s stock in a transaction dated Wednesday, October 17th. The stock was sold at an average price of $125.03, for a total value of $120,028.80. Following the completion of the sale, the executive vice president now directly owns 33,217 shares of the company’s stock, valued at approximately $4,153,121.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO James M. Whitehurst sold 2,513 shares of the company’s stock in a transaction that occurred on Wednesday, October 17th. The shares were sold at an average price of $125.03, for a total value of $314,200.39. Following the sale, the chief executive officer now directly owns 361,627 shares of the company’s stock, valued at $45,214,223.81. The disclosure for this sale can be found here. Insiders sold a total of 3,631 shares of company stock valued at $453,984 over the last three months. Company insiders own 0.58% of the company’s stock.

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About Red Hat

Red Hat, Inc provides open source software solutions to develop and offer operating system, virtualization, management, middleware, cloud, mobile, and storage technologies to various enterprises worldwide. It offers infrastructure-related solutions, such as Red Hat Enterprise Linux, an operating system platform that runs on hardware for use in hybrid cloud environments; Red Hat Satellite, a system management offering that helps to deploy, scale, and manage in hybrid cloud environments; and Red Hat Enterprise Virtualization, a software solution that allows customers to utilize and manage a common hardware infrastructure to run multiple operating systems and applications.

See Also: Initial Public Offering (IPO)

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

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