11,925 Shares in Red Hat, Inc. (NYSE:RHT) Acquired by Oakbrook Investments LLC

Oakbrook Investments LLC bought a new position in Red Hat, Inc. (NYSE:RHT) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 11,925 shares of the open-source software company’s stock, valued at approximately $1,142,000.

Several other hedge funds also recently bought and sold shares of the company. Caisse DE Depot ET Placement DU Quebec boosted its stake in Red Hat by 6.9% in 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 buying an additional 1,100 shares during the last quarter. Toronto Dominion Bank boosted its stake in Red Hat by 55.3% in the first quarter. Toronto Dominion Bank now owns 48,126 shares of the open-source software company’s stock worth $4,163,000 after buying an additional 17,143 shares during the last quarter. FMR LLC boosted its stake in Red Hat by 3.3% in the first quarter. FMR LLC now owns 10,079,689 shares of the open-source software company’s stock worth $871,894,000 after buying an additional 317,464 shares during the last quarter. US Bancorp DE boosted its stake in Red Hat by 1.0% in the second quarter. US Bancorp DE now owns 84,508 shares of the open-source software company’s stock worth $8,091,000 after buying an additional 870 shares during the last quarter. Finally, Comerica Bank boosted its stake in Red Hat by 0.7% in the first quarter. Comerica Bank now owns 103,913 shares of the open-source software company’s stock worth $9,160,000 after buying an additional 740 shares during the last quarter. 94.27% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Red Hat, Inc. (NYSE RHT) opened at 97.70 on Thursday. The company has a 50 day moving average of $98.02 and a 200-day moving average of $88.15. The firm has a market cap of $17.34 billion, a price-to-earnings ratio of 66.92 and a beta of 1.26. Red Hat, Inc. has a 12-month low of $68.54 and a 12-month high of $101.72.

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

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RHT has been the topic of a number of research reports. Zacks Investment Research raised shares of Red Hat from a “hold” rating to a “strong-buy” rating and set a $101.00 target price on the stock in a research note on Tuesday, May 2nd. Drexel Hamilton reaffirmed a “buy” rating and set a $127.00 target price (up previously from $110.00) on shares of Red Hat in a research note on Wednesday, June 21st. Piper Jaffray Companies started coverage on shares of Red Hat in a research note on Friday, June 23rd. They set a “neutral” rating and a $100.00 target price on the stock. Deutsche Bank AG boosted their price objective on shares of Red Hat from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, June 21st. Finally, Bank of America Corporation reissued a “neutral” rating and issued a $105.00 price objective (up previously from $92.00) on shares of Red Hat in a research note on Wednesday, June 21st. Nine research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. Red Hat has an average rating of “Buy” and an average price target of $98.72.

In other Red Hat news, 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 completion of the transaction, the executive vice president now directly owns 189,578 shares of the company’s stock, valued at $17,359,657.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 completion of the transaction, the executive vice president now directly owns 249,578 shares of the company’s stock, valued at $22,549,372.30. The disclosure for this sale can be found here. Insiders sold 130,549 shares of company stock valued at $12,133,438 over the last ninety days. Corporate insiders own 0.66% of the company’s stock.

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.

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

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