State of New Jersey Common Pension Fund D Has $8,139,000 Stake in Red Hat, Inc. (NYSE:RHT)

State of New Jersey Common Pension Fund D maintained its position in shares of Red Hat, Inc. (NYSE:RHT) during the second quarter, Holdings Channel reports. The institutional investor owned 85,000 shares of the open-source software company’s stock at the end of the second quarter. State of New Jersey Common Pension Fund D’s holdings in Red Hat were worth $8,139,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. State of Alaska Department of Revenue purchased a new position in shares of Red Hat during the second quarter worth approximately $122,000. Bronfman E.L. Rothschild L.P. increased its position in shares of Red Hat by 1.4% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 1,521 shares of the open-source software company’s stock worth $132,000 after buying an additional 21 shares during the last quarter. YorkBridge Wealth Partners LLC increased its position in shares of Red Hat by 102.4% in the first quarter. YorkBridge Wealth Partners LLC now owns 1,538 shares of the open-source software company’s stock worth $136,000 after buying an additional 778 shares during the last quarter. CENTRAL TRUST Co increased its position in shares of Red Hat by 8.2% in the first quarter. CENTRAL TRUST Co now owns 1,839 shares of the open-source software company’s stock worth $159,000 after buying an additional 139 shares during the last quarter. Finally, Point72 Asia Hong Kong Ltd purchased a new position in shares of Red Hat during the first quarter worth approximately $170,000. Institutional investors own 94.27% of the company’s stock.

Shares of Red Hat, Inc. (NYSE RHT) opened at 95.95 on Friday. The firm has a market capitalization of $17.03 billion, a PE ratio of 65.72 and a beta of 1.26. The firm’s 50 day moving average is $97.95 and its 200 day moving average is $88.21. Red Hat, Inc. has a 1-year low of $68.54 and a 1-year high of $101.73.

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

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A number of equities analysts have commented on the stock. BMO Capital Markets upped their price objective on shares of 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 assumed coverage on shares of 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) upped their price objective on shares of 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 restated a “neutral” rating and set a $105.00 price objective (up previously from $92.00) on shares of Red Hat in a research report on Wednesday, June 21st. Finally, MKM Partners restated a “neutral” rating and set a $98.00 price objective (up previously from $82.00) on shares of Red Hat in a research report on Friday, June 23rd. Nine analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. Red Hat presently has a consensus rating of “Buy” and an average price target of $98.72.

In other Red Hat news, EVP Paul J. Cormier sold 30,000 shares of Red Hat stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $90.35, for a total transaction of $2,710,500.00. Following the transaction, the executive vice president now owns 249,578 shares of the company’s stock, valued at approximately $22,549,372.30. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Paul J. Cormier sold 26,462 shares of Red Hat stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $91.57, for a total value of $2,423,125.34. Following the transaction, the executive vice president now directly owns 189,578 shares in the company, valued at approximately $17,359,657.46. The disclosure for this sale can be found here. Insiders sold a total of 130,549 shares of company stock worth $12,133,438 in the last three months. 0.66% of the stock is currently owned by company insiders.

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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