Private Advisor Group LLC Boosts Stake in Red Hat Inc (RHT)

Private Advisor Group LLC raised its stake in Red Hat Inc (NYSE:RHT) by 47.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,562 shares of the open-source software company’s stock after acquiring an additional 1,464 shares during the quarter. Private Advisor Group LLC’s holdings in Red Hat were worth $530,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Red Hat by 2.8% in the 2nd quarter. Vanguard Group Inc. now owns 17,627,522 shares of the open-source software company’s stock valued at $1,687,836,000 after buying an additional 479,615 shares during the last quarter. FMR LLC raised its holdings in Red Hat by 10.8% in the 2nd quarter. FMR LLC now owns 11,165,642 shares of the open-source software company’s stock valued at $1,069,110,000 after buying an additional 1,085,953 shares during the last quarter. Northern Trust Corp raised its holdings in Red Hat by 28.8% in the 2nd quarter. Northern Trust Corp now owns 3,794,946 shares of the open-source software company’s stock valued at $363,365,000 after buying an additional 848,777 shares during the last quarter. TIAA CREF Investment Management LLC raised its holdings in Red Hat by 34.4% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 1,302,954 shares of the open-source software company’s stock valued at $124,758,000 after buying an additional 333,408 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its holdings in Red Hat by 282.6% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,177,208 shares of the open-source software company’s stock valued at $112,718,000 after buying an additional 869,550 shares during the last quarter. 93.85% of the stock is owned by hedge funds and other institutional investors.

In related news, CEO James M. Whitehurst sold 12,000 shares of Red Hat stock in a transaction on 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 sale, the chief executive officer now owns 392,979 shares of the company’s stock, valued at approximately $43,679,615.85. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Delisa Alexander sold 1,073 shares of Red Hat stock in a transaction on Tuesday, October 17th. The shares were sold at an average price of $120.36, for a total transaction of $129,146.28. Following the completion of the sale, the executive vice president now directly owns 38,150 shares of the company’s stock, valued at approximately $4,591,734. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 34,172 shares of company stock valued at $3,926,377. Insiders own 0.66% of the company’s stock.

Shares of Red Hat Inc (NYSE:RHT) traded up $1.33 during mid-day trading on Tuesday, hitting $126.62. 1,654,200 shares of the stock traded hands, compared to its average volume of 1,655,821. The firm has a market cap of $22,337.71, a P/E ratio of 68.84, a price-to-earnings-growth ratio of 3.98 and a beta of 1.19. Red Hat Inc has a one year low of $68.54 and a one year high of $129.61. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.54.

Red Hat (NYSE:RHT) last announced its quarterly earnings data on Monday, September 25th. The open-source software company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.67 by $0.10. The company had revenue of $723.60 million during the quarter, compared to the consensus estimate of $699.56 million. Red Hat had a net margin of 11.49% and a return on equity of 25.27%. The company’s quarterly revenue was up 20.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.55 EPS. equities analysts expect that Red Hat Inc will post 2 EPS for the current year.

A number of research analysts recently issued reports on RHT shares. Zacks Investment Research lowered shares of Red Hat from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 22nd. Piper Jaffray Companies reiterated a “hold” rating and issued a $100.00 price objective on shares of Red Hat in a report on Sunday, August 27th. Credit Suisse Group started coverage on shares of Red Hat in a report on Tuesday, September 5th. They issued a “neutral” rating and a $111.00 price objective for the company. Moffett Nathanson started coverage on shares of Red Hat in a report on Wednesday, September 6th. They issued a “buy” rating for the company. Finally, KeyCorp reiterated an “overweight” rating and issued a $121.00 price objective on shares of Red Hat in a report on Friday, September 8th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and twenty-four have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $112.36.

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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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