P Schoenfeld Asset Management LP acquired a new stake in Red Hat Inc (NYSE:RHT) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 152,519 shares of the open-source software company’s stock, valued at approximately $26,788,000. Red Hat accounts for 2.9% of P Schoenfeld Asset Management LP’s holdings, making the stock its 11th biggest holding. P Schoenfeld Asset Management LP owned approximately 0.09% of Red Hat at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Legal & General Group Plc raised its holdings in shares of Red Hat by 1.6% in the 3rd quarter. Legal & General Group Plc now owns 804,809 shares of the open-source software company’s stock valued at $109,673,000 after buying an additional 12,629 shares during the period. Vanguard Group Inc raised its holdings in shares of Red Hat by 0.6% in the 3rd quarter. Vanguard Group Inc now owns 18,703,926 shares of the open-source software company’s stock valued at $2,548,970,000 after buying an additional 103,057 shares during the period. Havens Advisors LLC purchased a new stake in shares of Red Hat in the 4th quarter valued at $12,352,000. Scout Investments Inc. raised its holdings in shares of Red Hat by 48.2% in the 4th quarter. Scout Investments Inc. now owns 186,958 shares of the open-source software company’s stock valued at $32,837,000 after buying an additional 60,780 shares during the period. Finally, Kentucky Retirement Systems purchased a new stake in shares of Red Hat in the 3rd quarter valued at $877,000. Hedge funds and other institutional investors own 88.56% of the company’s stock.

Several research firms recently issued reports on RHT. Monness Crespi & Hardt reiterated a “buy” rating and issued a $190.00 price objective (up previously from $186.00) on shares of Red Hat in a report on Monday, December 10th. Zacks Investment Research upgraded Red Hat from a “hold” rating to a “buy” rating and set a $194.00 price objective on the stock in a report on Monday, December 31st. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $166.54.

In other news, EVP Michael Cunningham sold 25,000 shares of the company’s stock in a transaction dated Thursday, February 7th. The stock was sold at an average price of $178.79, for a total transaction of $4,469,750.00. Following the completion of the transaction, the executive vice president now directly owns 25,071 shares of the company’s stock, valued at approximately $4,482,444.09. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.58% of the company’s stock.

RHT opened at $181.78 on Friday. Red Hat Inc has a 12 month low of $115.31 and a 12 month high of $183.54. The firm has a market cap of $32.13 billion, a P/E ratio of 79.03, a P/E/G ratio of 4.02 and a beta of 0.55. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.23.

Red Hat (NYSE:RHT) last released its earnings results on Monday, December 17th. The open-source software company reported $0.96 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.87 by $0.09. Red Hat had a return on equity of 33.96% and a net margin of 8.66%. The firm had revenue of $847.00 million during the quarter, compared to analysts’ expectations of $852.79 million. During the same period in the previous year, the firm posted $0.73 EPS. Red Hat’s revenue for the quarter was up 13.2% on a year-over-year basis. As a group, research analysts forecast that Red Hat Inc will post 2.63 EPS for the current fiscal year.

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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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