Reliance Trust Co. of Delaware reduced its position in shares of Red Hat Inc. (NYSE:RHT) by 35.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,092 shares of the open-source software company’s stock after selling 8,184 shares during the period. Reliance Trust Co. of Delaware’s holdings in Red Hat were worth $1,220,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Wunderlich Capital Managemnt purchased a new position in Red Hat during the second quarter worth $137,000. Mizuho Asset Management Co. Ltd. raised its position in Red Hat by 125.8% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,393 shares of the open-source software company’s stock worth $174,000 after buying an additional 1,333 shares during the period. Hills Bank & Trust Co. purchased a new position in Red Hat during the second quarter worth $222,000. Pacer Advisors Inc. raised its position in Red Hat by 10.8% in the second quarter. Pacer Advisors Inc. now owns 3,392 shares of the open-source software company’s stock worth $246,000 after buying an additional 331 shares during the period. Finally, Wall Street Associates purchased a new position in Red Hat during the second quarter worth $247,000. Hedge funds and other institutional investors own 94.49% of the company’s stock.

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

Red Hat Inc. (NYSE:RHT) traded up 2.07% during midday trading on Tuesday, hitting $80.00. The company had a trading volume of 1,647,282 shares. Red Hat Inc. has a one year low of $59.59 and a one year high of $84.44. The company’s 50 day moving average is $77.31 and its 200-day moving average is $75.69. The company has a market cap of $14.37 billion, a P/E ratio of 67.28 and a beta of 1.51.

Red Hat (NYSE:RHT) last issued its earnings results on Wednesday, September 21st. The open-source software company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.01. Red Hat had a return on equity of 18.93% and a net margin of 9.84%. The company had revenue of $599.80 million for the quarter. During the same period in the previous year, the company earned $0.47 earnings per share. The business’s revenue for the quarter was up 19.0% on a year-over-year basis. On average, equities analysts predict that Red Hat Inc. will post $2.24 EPS for the current year.

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RHT has been the subject of a number of recent analyst reports. Oppenheimer Holdings Inc. set a $88.00 target price on Red Hat and gave the company a “buy” rating in a report on Thursday, September 22nd. Vetr downgraded Red Hat from a “strong-buy” rating to a “buy” rating and set a $88.40 target price for the company. in a report on Tuesday. reissued a “buy” rating and issued a $99.00 target price on shares of Red Hat in a report on Friday, September 23rd. Zacks Investment Research downgraded Red Hat from a “buy” rating to a “hold” rating in a report on Tuesday, November 22nd. Finally, Robert W. Baird raised their target price on Red Hat from $85.00 to $90.00 and gave the company an “outperform” rating in a report on Friday, September 23rd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twenty-five have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $89.55.

In other Red Hat news, EVP Delisa Alexander sold 1,121 shares of the company’s stock in a transaction dated Tuesday, October 18th. The stock was sold at an average price of $77.00, for a total value of $86,317.00. Following the transaction, the executive vice president now directly owns 57,356 shares of the company’s stock, valued at approximately $4,416,412. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director William S. Kaiser sold 12,500 shares of the stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $80.35, for a total value of $1,004,375.00. Following the transaction, the director now directly owns 120,814 shares in the company, valued at approximately $9,707,404.90. The disclosure for this sale can be found here. 0.76% of the stock is 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.

5 Day Chart for NYSE:RHT

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