Red Hat, Inc. (RHT) Position Trimmed by California State Teachers Retirement System

California State Teachers Retirement System decreased its holdings in shares of Red Hat, Inc. (NYSE:RHT) by 9.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 324,200 shares of the open-source software company’s stock after selling 35,593 shares during the quarter. California State Teachers Retirement System owned approximately 0.18% of Red Hat worth $31,042,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of RHT. OppenheimerFunds Inc. lifted its stake in Red Hat by 6.8% during the first quarter. OppenheimerFunds Inc. now owns 3,363 shares of the open-source software company’s stock worth $291,000 after purchasing an additional 215 shares during the last quarter. Wellington Management Group LLP lifted its stake in Red Hat by 8.8% during the first quarter. Wellington Management Group LLP now owns 145,408 shares of the open-source software company’s stock worth $12,578,000 after purchasing an additional 11,714 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Red Hat by 3.5% during the first quarter. Dimensional Fund Advisors LP now owns 401,242 shares of the open-source software company’s stock worth $34,705,000 after purchasing an additional 13,616 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its stake in Red Hat by 6.9% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 17,104 shares of the open-source software company’s stock worth $1,481,000 after purchasing an additional 1,100 shares during the last quarter. Finally, United Capital Financial Advisers LLC lifted its stake in Red Hat by 65.8% during the first quarter. United Capital Financial Advisers LLC now owns 12,542 shares of the open-source software company’s stock worth $1,085,000 after purchasing an additional 4,978 shares during the last quarter. Hedge funds and other institutional investors own 94.03% of the company’s stock.

Several equities research analysts recently weighed in on RHT shares. Barclays PLC boosted their target price on Red Hat from $105.00 to $120.00 and gave the stock an “overweight” rating in a research note on Monday, September 18th. Bank of America Corporation restated a “neutral” rating and set a $115.00 target price (up previously from $105.00) on shares of Red Hat in a research note on Tuesday, September 26th. Oppenheimer Holdings, Inc. restated an “outperform” rating and set a $105.00 target price (up previously from $96.00) on shares of Red Hat in a research note on Thursday, June 22nd. Wells Fargo & Company reaffirmed an “outperform” rating and set a $124.00 price target (up previously from $120.00) on shares of Red Hat in a research report on Wednesday, September 27th. Finally, 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 target on the stock. Ten equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $110.93.

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Red Hat, Inc. (NYSE RHT) traded up 0.16% during mid-day trading on Friday, reaching $121.10. The company’s stock had a trading volume of 1,553,142 shares. The firm has a market capitalization of $21.43 billion, a P/E ratio of 72.47 and a beta of 1.25. Red Hat, Inc. has a 52 week low of $68.54 and a 52 week high of $122.31. The firm’s 50 day moving average price is $110.00 and its 200 day moving average price is $97.02.

Red Hat (NYSE:RHT) last issued its quarterly earnings results on Monday, September 25th. The open-source software company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.10. Red Hat had a return on equity of 25.27% and a net margin of 11.49%. The company had revenue of $723.60 million for the quarter, compared to analysts’ expectations of $699.56 million. During the same period last year, the firm earned $0.55 EPS. The firm’s revenue for the quarter was up 20.6% on a year-over-year basis. On average, analysts anticipate that Red Hat, Inc. will post $2.79 EPS for the current fiscal year.

In other news, CEO James M. Whitehurst sold 9,122 shares of Red Hat stock in a transaction on Tuesday, July 18th. The stock was sold at an average price of $98.02, for a total transaction of $894,138.44. Following the transaction, the chief executive officer now directly owns 414,101 shares in the company, valued at approximately $40,590,180.02. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Delisa Alexander sold 2,444 shares of Red Hat stock in a transaction on Tuesday, July 18th. The shares were sold at an average price of $98.25, for a total value of $240,123.00. Following the transaction, the executive vice president now owns 41,570 shares in the company, valued at $4,084,252.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 39,087 shares of company stock worth $4,227,191. 0.66% of the stock is owned by 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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