Red Hat Inc (RHT) Shares Sold by Glenmede Trust Co. NA

Glenmede Trust Co. NA trimmed its stake in shares of Red Hat Inc (NYSE:RHT) by 47.9% in the 4th quarter, HoldingsChannel reports. The fund owned 1,521 shares of the open-source software company’s stock after selling 1,399 shares during the period. Glenmede Trust Co. NA’s holdings in Red Hat were worth $182,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. QS Investors LLC grew its stake in Red Hat by 2.3% during the fourth quarter. QS Investors LLC now owns 16,799 shares of the open-source software company’s stock valued at $2,018,000 after acquiring an additional 374 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its stake in shares of Red Hat by 1.5% in the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 27,091 shares of the open-source software company’s stock worth $3,334,000 after buying an additional 400 shares in the last quarter. Oakbrook Investments LLC grew its stake in shares of Red Hat by 3.1% in the 4th quarter. Oakbrook Investments LLC now owns 14,205 shares of the open-source software company’s stock worth $1,706,000 after buying an additional 430 shares in the last quarter. Standard Life Aberdeen plc grew its stake in shares of Red Hat by 1.4% in the 4th quarter. Standard Life Aberdeen plc now owns 31,938 shares of the open-source software company’s stock worth $3,836,000 after buying an additional 448 shares in the last quarter. Finally, New Mexico Educational Retirement Board grew its stake in shares of Red Hat by 3.0% in the 4th quarter. New Mexico Educational Retirement Board now owns 17,048 shares of the open-source software company’s stock worth $2,047,000 after buying an additional 500 shares in the last quarter. 95.75% of the stock is owned by institutional investors.

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In related news, Director William S. Kaiser sold 7,700 shares of Red Hat stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $130.00, for a total transaction of $1,001,000.00. Following the completion of the sale, the director now owns 61,652 shares in the company, valued at approximately $8,014,760. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Delisa Alexander sold 1,393 shares of Red Hat stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $124.87, for a total transaction of $173,943.91. Following the sale, the executive vice president now owns 36,420 shares of the company’s stock, valued at approximately $4,547,765.40. The disclosure for this sale can be found here. Insiders have sold a total of 14,686 shares of company stock valued at $1,873,342 in the last quarter. 0.66% of the stock is currently owned by company insiders.

A number of equities analysts have commented on RHT shares. Zacks Investment Research cut shares of Red Hat from a “buy” rating to a “hold” rating in a research note on Wednesday, December 27th. Royal Bank of Canada lifted their price objective on shares of Red Hat to $160.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 21st. Northland Securities reissued a “buy” rating and issued a $150.00 price objective on shares of Red Hat in a research note on Thursday, December 21st. Mizuho lifted their price objective on shares of Red Hat from $125.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, December 13th. Finally, Morgan Stanley lifted their price objective on shares of Red Hat from $130.00 to $150.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 27th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and twenty-three have assigned a buy rating to the company’s stock. Red Hat has an average rating of “Buy” and an average price target of $152.13.

Shares of NYSE:RHT opened at $149.51 on Friday. Red Hat Inc has a 1-year low of $84.16 and a 1-year high of $167.36. The stock has a market cap of $26,463.87, a P/E ratio of 65.00, a P/E/G ratio of 3.78 and a beta of 1.06. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.36 and a quick ratio of 1.37.

Red Hat (NYSE:RHT) last announced its quarterly earnings data on Monday, March 26th. The open-source software company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.10. Red Hat had a net margin of 8.86% and a return on equity of 29.36%. The company had revenue of $772.00 million during the quarter, compared to analyst estimates of $761.87 million. During the same quarter last year, the business posted $0.61 EPS. The firm’s revenue for the quarter was up 22.8% on a year-over-year basis. research analysts forecast that Red Hat Inc will post 2.52 EPS for the current fiscal year.

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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.

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

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