Red Hat Inc (RHT) Holdings Trimmed by Aviva PLC

Aviva PLC lessened its stake in shares of Red Hat Inc (NYSE:RHT) by 3.6% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 85,715 shares of the open-source software company’s stock after selling 3,221 shares during the quarter. Aviva PLC’s holdings in Red Hat were worth $11,681,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of RHT. Sustainable Growth Advisers LP boosted its position in shares of Red Hat by 11.6% during the 3rd quarter. Sustainable Growth Advisers LP now owns 2,221,772 shares of the open-source software company’s stock valued at $302,783,000 after acquiring an additional 230,675 shares during the last quarter. Janus Henderson Group PLC boosted its position in shares of Red Hat by 64.9% during the 2nd quarter. Janus Henderson Group PLC now owns 2,162,044 shares of the open-source software company’s stock valued at $290,527,000 after acquiring an additional 850,715 shares during the last quarter. MERIAN GLOBAL INVESTORS UK Ltd boosted its position in shares of Red Hat by 1.2% during the 3rd quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 1,832,275 shares of the open-source software company’s stock valued at $249,702,000 after acquiring an additional 21,970 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Red Hat by 16.7% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,022,828 shares of the open-source software company’s stock valued at $139,391,000 after acquiring an additional 146,233 shares during the last quarter. Finally, First Trust Advisors LP boosted its position in shares of Red Hat by 20.8% during the 2nd quarter. First Trust Advisors LP now owns 891,428 shares of the open-source software company’s stock valued at $119,781,000 after acquiring an additional 153,670 shares during the last quarter. 94.46% of the stock is owned by institutional investors and hedge funds.

NYSE:RHT opened at $178.56 on Monday. The company has a market capitalization of $31.42 billion, a P/E ratio of 77.63, a PEG ratio of 4.64 and a beta of 0.71. Red Hat Inc has a 1-year low of $115.31 and a 1-year high of $179.49. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.40.

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

A number of analysts have recently issued reports on RHT shares. Northland Securities downgraded Red Hat from an “outperform” rating to a “market perform” rating in a research report on Monday, October 29th. Royal Bank of Canada dropped their price target on Red Hat to $169.00 and set an “outperform” rating for the company in a research report on Monday, September 17th. Nomura downgraded Red Hat from a “buy” rating to a “hold” rating and lifted their price target for the company 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 target for the company. Finally, Deutsche Bank downgraded Red Hat from a “buy” rating to a “hold” rating and lifted their price target for the company from $170.00 to $190.00 in a research report on Monday, October 29th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $163.48.

In other Red Hat news, EVP Delisa Alexander sold 960 shares of Red Hat stock in a transaction that occurred on Wednesday, October 17th. The stock was sold at an average price of $125.03, for a total value of $120,028.80. Following the transaction, the executive vice president now directly owns 33,217 shares of the company’s stock, valued at approximately $4,153,121.51. 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 2,513 shares of Red Hat stock in a transaction that occurred on Wednesday, October 17th. The stock was sold at an average price of $125.03, for a total value of $314,200.39. Following the completion of the transaction, the chief executive officer now directly owns 361,627 shares in the company, 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 worth $453,984 over the last ninety days. 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.

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

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