Sumitomo Mitsui Trust Holdings Inc. Has $42,391,000 Stake in Red Hat Inc. (RHT)

Sumitomo Mitsui Trust Holdings Inc. reduced its stake in Red Hat Inc. (NYSE:RHT) by 1.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 583,894 shares of the open-source software company’s stock after selling 8,567 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Red Hat were worth $42,391,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Meiji Yasuda Asset Management Co Ltd. increased its position in Red Hat by 26.9% in the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 6,554 shares of the open-source software company’s stock valued at $488,000 after buying an additional 1,390 shares during the period. 1832 Asset Management L.P. bought a new position in Red Hat during the first quarter valued at approximately $38,627,000. UBS Asset Management Americas Inc. increased its position in Red Hat by 155.1% in the first quarter. UBS Asset Management Americas Inc. now owns 1,227,508 shares of the open-source software company’s stock valued at $91,461,000 after buying an additional 746,414 shares during the period. Geode Capital Management LLC increased its position in Red Hat by 3.6% in the first quarter. Geode Capital Management LLC now owns 1,474,178 shares of the open-source software company’s stock valued at $109,614,000 after buying an additional 50,686 shares during the period. Finally, Wellington Management Group LLP increased its position in Red Hat by 44.9% in the first quarter. Wellington Management Group LLP now owns 120,042 shares of the open-source software company’s stock valued at $8,944,000 after buying an additional 37,221 shares during the period. 94.83% of the stock is currently owned by hedge funds and other institutional investors.

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

Red Hat Inc. (NYSE:RHT) traded up 1.72% during mid-day trading on Tuesday, reaching $77.50. The company’s stock had a trading volume of 1,194,756 shares. Red Hat Inc. has a one year low of $59.59 and a one year high of $84.44. The stock’s 50 day moving average is $76.27 and its 200 day moving average is $74.93. The firm has a market cap of $13.92 billion, a PE ratio of 65.18 and a beta of 1.52.

Red Hat (NYSE:RHT) last released its earnings results on Wednesday, September 21st. The open-source software company reported $0.55 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.01. The firm earned $599.80 million during the quarter. Red Hat had a return on equity of 18.93% and a net margin of 9.84%. The company’s revenue for the quarter was up 19.0% on a year-over-year basis. During the same quarter last year, the business posted $0.47 earnings per share. On average, analysts anticipate that Red Hat Inc. will post $2.24 EPS for the current year.

RHT has been the topic of several recent research reports. Drexel Hamilton reaffirmed a “buy” rating and issued a $105.00 price objective on shares of Red Hat in a research note on Monday, June 20th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $85.00 price objective (down previously from $88.00) on shares of Red Hat in a research note on Thursday, June 23rd. BTIG Research reaffirmed a “buy” rating and issued a $92.00 price objective on shares of Red Hat in a research note on Thursday, June 23rd. Oppenheimer Holdings Inc. reaffirmed a “buy” rating and issued a $88.00 price objective on shares of Red Hat in a research note on Thursday, June 23rd. Finally, Needham & Company LLC reissued a “buy” rating and set a $98.00 target price on shares of Red Hat in a research note on Thursday, June 23rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-five have given a buy rating to the stock. Red Hat currently has an average rating of “Buy” and an average price target of $89.33.

In other Red Hat news, Director William S. Kaiser sold 12,500 shares of the firm’s stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $80.35, for a total value of $1,004,375.00. Following the sale, the director now directly owns 120,814 shares in the company, valued at $9,707,404.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director General Henry Hugh Shelton sold 15,000 shares of the firm’s stock in a transaction on Friday, September 30th. The shares were sold at an average price of $80.70, for a total value of $1,210,500.00. Following the completion of the sale, the director now owns 9,026 shares in the company, valued at $728,398.20. The disclosure for this sale can be found here. 0.76% of the stock is owned by corporate insiders.

Red Hat Company Profile

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.

5 Day Chart for NYSE:RHT

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