Red Hat Inc (RHT) Shares Sold by OppenheimerFunds Inc.

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OppenheimerFunds Inc. lowered its position in shares of Red Hat Inc (NYSE:RHT) by 0.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,228,194 shares of the open-source software company’s stock after selling 1,994 shares during the quarter. OppenheimerFunds Inc. owned approximately 0.69% of Red Hat worth $165,032,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in RHT. Penserra Capital Management LLC grew its position in shares of Red Hat by 1.5% in the first quarter. Penserra Capital Management LLC now owns 26,490 shares of the open-source software company’s stock valued at $3,959,000 after purchasing an additional 387 shares in the last quarter. Mutual of America Capital Management LLC grew its position in shares of Red Hat by 1.5% in the second quarter. Mutual of America Capital Management LLC now owns 27,735 shares of the open-source software company’s stock valued at $3,727,000 after purchasing an additional 418 shares in the last quarter. Meeder Asset Management Inc. grew its position in shares of Red Hat by 1.9% in the second quarter. Meeder Asset Management Inc. now owns 23,215 shares of the open-source software company’s stock valued at $3,119,000 after purchasing an additional 431 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in shares of Red Hat by 0.6% in the first quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 74,543 shares of the open-source software company’s stock valued at $11,145,000 after purchasing an additional 478 shares in the last quarter. Finally, World Asset Management Inc grew its position in shares of Red Hat by 4.1% in the second quarter. World Asset Management Inc now owns 12,136 shares of the open-source software company’s stock valued at $1,631,000 after purchasing an additional 479 shares in the last quarter. 95.11% of the stock is owned by institutional investors and hedge funds.

In other Red Hat news, insider Michael A. Kelly sold 636 shares of the firm’s stock in a transaction on Tuesday, July 17th. The stock was sold at an average price of $145.00, for a total value of $92,220.00. Following the sale, the insider now directly owns 5,965 shares in the company, valued at $864,925. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Delisa Alexander sold 2,305 shares of the firm’s stock in a transaction on Tuesday, July 17th. The shares were sold at an average price of $145.00, for a total value of $334,225.00. Following the completion of the sale, the executive vice president now owns 36,309 shares in the company, valued at $5,264,805. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 56,926 shares of company stock worth $8,145,758. 0.58% of the stock is owned by insiders.

Red Hat stock opened at $145.93 on Friday. Red Hat Inc has a 1-year low of $104.51 and a 1-year high of $177.70. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.28 and a current ratio of 1.28. The firm has a market capitalization of $25.59 billion, a price-to-earnings ratio of 63.45, a price-to-earnings-growth ratio of 3.38 and a beta of 1.07.

Red Hat (NYSE:RHT) last posted its quarterly earnings results on Thursday, June 21st. The open-source software company reported $0.72 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.03. Red Hat had a return on equity of 30.40% and a net margin of 9.77%. The company had revenue of $813.53 million for the quarter, compared to analysts’ expectations of $807.48 million. During the same period last year, the firm earned $0.56 earnings per share. Red Hat’s quarterly revenue was up 20.2% on a year-over-year basis. analysts anticipate that Red Hat Inc will post 2.56 earnings per share for the current fiscal year.

Red Hat announced that its board has authorized a share buyback plan on Thursday, June 21st that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the open-source software company to purchase up to 4% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.

A number of equities research analysts have recently issued reports on RHT shares. ValuEngine lowered Red Hat from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 22nd. Monness Crespi & Hardt lowered their price objective on Red Hat from $200.00 to $186.00 and set a “buy” rating for the company in a research report on Friday, June 22nd. UBS Group reiterated a “buy” rating and issued a $170.00 price objective on shares of Red Hat in a research report on Friday, June 22nd. Cowen reiterated a “buy” rating and issued a $165.00 price objective on shares of Red Hat in a research report on Tuesday, June 26th. Finally, Zacks Investment Research upgraded Red Hat from a “hold” rating to a “buy” rating and set a $159.00 price objective for the company in a research report on Tuesday, June 26th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nineteen have given a buy rating to the stock. Red Hat has a consensus rating of “Buy” and an average price target of $158.03.

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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