NN Investment Partners Holdings N.V. Has $6.77 Million Position in Red Hat Inc (RHT)

NN Investment Partners Holdings N.V. lessened its position in shares of Red Hat Inc (NYSE:RHT) by 1.8% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 49,646 shares of the open-source software company’s stock after selling 924 shares during the period. NN Investment Partners Holdings N.V.’s holdings in Red Hat were worth $6,765,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Janus Henderson Group PLC raised its stake in Red Hat by 64.9% during the second quarter. Janus Henderson Group PLC now owns 2,162,044 shares of the open-source software company’s stock worth $290,527,000 after buying an additional 850,715 shares during the last quarter. MERIAN GLOBAL INVESTORS UK Ltd raised its stake in Red Hat by 1.2% during the third quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 1,832,275 shares of the open-source software company’s stock worth $249,702,000 after buying an additional 21,970 shares during the last quarter. First Trust Advisors LP raised its stake in Red Hat by 20.8% during the second quarter. First Trust Advisors LP now owns 891,428 shares of the open-source software company’s stock worth $119,781,000 after buying an additional 153,670 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in Red Hat by 26.5% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 876,595 shares of the open-source software company’s stock worth $117,788,000 after buying an additional 183,715 shares during the last quarter. Finally, Swedbank raised its stake in Red Hat by 2.9% during the second quarter. Swedbank now owns 819,370 shares of the open-source software company’s stock worth $110,099,000 after buying an additional 23,094 shares during the last quarter. 96.06% of the stock is owned by institutional investors and hedge funds.

RHT opened at $172.40 on Friday. Red Hat Inc has a 1-year low of $115.31 and a 1-year high of $177.70. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $29.92 billion, a price-to-earnings ratio of 74.96, a P/E/G ratio of 4.41 and a beta of 1.14.

Red Hat (NYSE:RHT) last posted its quarterly earnings results on Wednesday, September 19th. The open-source software company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.03. Red Hat had a net margin of 9.15% and a return on equity of 31.80%. The firm had revenue of $822.75 million during the quarter, compared to the consensus estimate of $828.12 million. During the same period in the previous year, the firm posted $0.77 earnings per share. The business’s revenue was up 13.7% compared to the same quarter last year. On average, equities analysts predict that Red Hat Inc will post 2.57 earnings per share for the current year.

A number of equities analysts recently weighed in on RHT shares. Barclays lifted their target price on shares of Red Hat from $160.00 to $166.00 and gave the stock an “overweight” rating in a research note on Friday, September 7th. OTR Global downgraded shares of Red Hat to a “positive” rating in a research note on Thursday, September 13th. Royal Bank of Canada lowered their target price on shares of Red Hat to $169.00 and set an “outperform” rating for the company in a research note on Monday, September 17th. JPMorgan Chase & Co. downgraded shares of Red Hat from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $160.00 to $150.00 in a research note on Tuesday, September 18th. Finally, BMO Capital Markets lowered their target price on shares of Red Hat from $177.00 to $158.00 and set an “outperform” rating for the company in a research note on Thursday, September 20th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. Red Hat has a consensus rating of “Hold” and a consensus price target of $163.48.

In other news, CEO James M. Whitehurst sold 2,513 shares of the business’s stock in a transaction dated Wednesday, October 17th. The shares were sold at an average price of $125.03, for a total transaction of $314,200.39. Following the completion of the sale, the chief executive officer now directly owns 361,627 shares of the company’s stock, valued at $45,214,223.81. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO James M. Whitehurst sold 44,472 shares of the business’s stock in a transaction dated Tuesday, August 7th. The stock was sold at an average price of $142.56, for a total transaction of $6,339,928.32. Following the sale, the chief executive officer now directly owns 445,557 shares of the company’s stock, valued at $63,518,605.92. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 48,103 shares of company stock valued at $6,793,912. Insiders own 0.58% of the company’s stock.

Red Hat Profile

Red Hat, Inc provides open source software solutions to develop and offer operating system, virtualization, management, middleware, cloud, mobile, and storage technologies to various enterprises worldwide. It offers infrastructure-related solutions, such as Red Hat Enterprise Linux, an operating system platform that runs on hardware for use in hybrid cloud environments; Red Hat Satellite, a system management offering that helps to deploy, scale, and manage in hybrid cloud environments; and Red Hat Enterprise Virtualization, a software solution that allows customers to utilize and manage a common hardware infrastructure to run multiple operating systems and applications.

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

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