Creative Planning Has $625,000 Position in Red Hat, Inc. (RHT)

Creative Planning increased its stake in shares of Red Hat, Inc. (NYSE:RHT) by 6.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,527 shares of the open-source software company’s stock after buying an additional 384 shares during the period. Creative Planning’s holdings in Red Hat were worth $625,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Caisse DE Depot ET Placement DU Quebec raised its stake in shares of Red Hat by 6.9% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 17,104 shares of the open-source software company’s stock valued at $1,481,000 after buying an additional 1,100 shares during the period. Toronto Dominion Bank raised its stake in shares of Red Hat by 55.3% in the first quarter. Toronto Dominion Bank now owns 48,126 shares of the open-source software company’s stock worth $4,163,000 after buying an additional 17,143 shares during the period. FMR LLC raised its stake in shares of Red Hat by 3.3% in the first quarter. FMR LLC now owns 10,079,689 shares of the open-source software company’s stock worth $871,894,000 after buying an additional 317,464 shares during the period. Comerica Bank raised its stake in shares of Red Hat by 0.7% in the first quarter. Comerica Bank now owns 103,913 shares of the open-source software company’s stock worth $9,160,000 after buying an additional 740 shares during the period. Finally, Quantitative Investment Management LLC acquired a new stake in shares of Red Hat during the first quarter worth about $16,573,000. Hedge funds and other institutional investors own 94.27% of the company’s stock.

Shares of Red Hat, Inc. (RHT) opened at 98.34 on Friday. Red Hat, Inc. has a 52 week low of $68.54 and a 52 week high of $101.73. The firm has a market capitalization of $17.45 billion, a price-to-earnings ratio of 67.36 and a beta of 1.26. The firm has a 50-day moving average price of $97.93 and a 200-day moving average price of $88.38.

Red Hat (NYSE:RHT) last issued its earnings results on Tuesday, June 20th. The open-source software company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.03. Red Hat had a return on equity of 22.84% and a net margin of 10.54%. The firm had revenue of $677 million for the quarter, compared to the consensus estimate of $647.42 million. During the same quarter in the previous year, the company posted $0.50 earnings per share. The business’s quarterly revenue was up 19.2% compared to the same quarter last year. On average, equities analysts expect that Red Hat, Inc. will post $2.66 earnings per share for the current fiscal year.

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A number of brokerages have recently commented on RHT. BMO Capital Markets boosted their price objective on Red Hat from $90.00 to $107.00 and gave the stock a “market perform” rating in a research report on Wednesday, June 21st. Piper Jaffray Companies began coverage on Red Hat in a research report on Friday, June 23rd. They set a “neutral” rating and a $100.00 price objective for the company. Goldman Sachs Group, Inc. (The) boosted their price objective on Red Hat from $85.00 to $97.00 and gave the stock a “buy” rating in a research report on Wednesday, June 21st. Bank of America Corporation reissued a “neutral” rating and set a $105.00 price objective (up from $92.00) on shares of Red Hat in a research report on Wednesday, June 21st. Finally, MKM Partners reissued a “neutral” rating and set a $98.00 price objective (up from $82.00) on shares of Red Hat in a research report on Friday, June 23rd. Nine equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $98.72.

In other Red Hat news, CFO Eric Ryan Shander sold 1,521 shares of the business’s stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $99.98, for a total value of $152,069.58. Following the transaction, the chief financial officer now owns 9,913 shares in the company, valued at $991,101.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Paul J. Cormier sold 30,000 shares of the business’s stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $90.35, for a total value of $2,710,500.00. Following the completion of the transaction, the executive vice president now owns 249,578 shares in the company, valued at approximately $22,549,372.30. The disclosure for this sale can be found here. Insiders sold 130,549 shares of company stock worth $12,133,438 in the last 90 days. Corporate insiders own 0.66% of the company’s stock.

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.

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

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