Retirement Systems of Alabama boosted its position in Red Hat Inc (NYSE:RHT) by 50.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 301,182 shares of the open-source software company’s stock after buying an additional 101,056 shares during the period. Retirement Systems of Alabama owned about 0.17% of Red Hat worth $26,052,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the company. Meeder Asset Management Inc. increased its position in shares of Red Hat by 619.8% in the third quarter. Meeder Asset Management Inc. now owns 4,981 shares of the open-source software company’s stock worth $402,000 after buying an additional 4,289 shares during the last quarter. Acadian Asset Management LLC bought a new position in shares of Red Hat during the third quarter worth approximately $650,000. Valicenti Advisory Services Inc. increased its position in shares of Red Hat by 0.3% in the third quarter. Valicenti Advisory Services Inc. now owns 27,600 shares of the open-source software company’s stock worth $2,231,000 after buying an additional 75 shares during the last quarter. Concert Wealth Management Inc. increased its position in shares of Red Hat by 8.9% in the third quarter. Concert Wealth Management Inc. now owns 3,852 shares of the open-source software company’s stock worth $309,000 after buying an additional 314 shares during the last quarter. Finally, Great West Life Assurance Co. Can increased its position in shares of Red Hat by 0.5% in the third quarter. Great West Life Assurance Co. Can now owns 131,749 shares of the open-source software company’s stock worth $10,641,000 after buying an additional 603 shares during the last quarter. 95.36% 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 down 0.46% on Friday, hitting $87.02. The stock had a trading volume of 941,247 shares. The stock has a market cap of $15.47 billion, a P/E ratio of 62.60 and a beta of 1.44. Red Hat Inc has a one year low of $68.54 and a one year high of $88.05. The company’s 50-day moving average is $84.24 and its 200-day moving average is $79.02.

Red Hat (NYSE:RHT) last issued its earnings results on Monday, March 27th. The open-source software company reported $0.61 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.61. Red Hat had a return on equity of 20.57% and a net margin of 10.36%. The company earned $628.80 million during the quarter, compared to the consensus estimate of $618.64 million. During the same period in the previous year, the firm posted $0.52 earnings per share. Red Hat’s quarterly revenue was up 15.7% compared to the same quarter last year. On average, analysts anticipate that Red Hat Inc will post $2.63 earnings per share for the current fiscal year.

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A number of equities analysts recently commented on RHT shares. Vetr downgraded Red Hat from a “strong-buy” rating to a “buy” rating and set a $80.00 price objective on the stock. in a research report on Wednesday, January 11th. Zacks Investment Research upgraded Red Hat from a “sell” rating to a “hold” rating in a research report on Tuesday, December 27th. Drexel Hamilton reiterated a “buy” rating and set a $105.00 price objective on shares of Red Hat in a research report on Friday, March 24th. Cowen and Company lifted their price objective on Red Hat from $88.00 to $93.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 28th. Finally, William Blair reiterated an “outperform” rating on shares of Red Hat in a research report on Monday, February 13th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twenty-one have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $90.60.

In other news, CEO James M. Whitehurst sold 12,000 shares of Red Hat stock in a transaction that occurred on Monday, April 3rd. The stock was sold at an average price of $86.56, for a total transaction of $1,038,720.00. Following the sale, the chief executive officer now owns 405,072 shares of the company’s stock, valued at $35,063,032.32. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO James M. Whitehurst sold 5,099 shares of Red Hat stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $83.69, for a total value of $426,735.31. Following the sale, the chief executive officer now directly owns 429,072 shares in the company, valued at approximately $35,909,035.68. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 69,630 shares of company stock valued at $5,992,372. 0.76% of the stock is currently owned by 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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