Sei Investments Co. decreased its position in Red Hat Inc. (NYSE:RHT) by 7.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 218,923 shares of the open-source software company’s stock after selling 17,355 shares during the period. Sei Investments Co.’s holdings in Red Hat were worth $17,696,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of RHT. Emerald Acquisition Ltd. acquired a new position in shares of Red Hat during the second quarter worth $87,400,000. Smith Asset Management Group LP boosted its position in shares of Red Hat by 219.6% in the second quarter. Smith Asset Management Group LP now owns 972,049 shares of the open-source software company’s stock worth $70,571,000 after buying an additional 667,933 shares during the period. Bank of Montreal Can acquired a new position in shares of Red Hat during the second quarter worth $41,574,000. FMR LLC boosted its position in shares of Red Hat by 5.1% in the second quarter. FMR LLC now owns 11,463,375 shares of the open-source software company’s stock worth $832,240,000 after buying an additional 558,296 shares during the period. Finally, Old Mutual Global Investors UK Ltd. boosted its position in shares of Red Hat by 120.8% in the third quarter. Old Mutual Global Investors UK Ltd. now owns 713,216 shares of the open-source software company’s stock worth $57,649,000 after buying an additional 390,192 shares during the period. 94.49% of the stock is owned by institutional investors and hedge funds.

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

Red Hat Inc. (NYSE:RHT) traded down 1.02% on Wednesday, reaching $79.18. 526,517 shares of the company’s stock were exchanged. Red Hat Inc. has a 12 month low of $59.59 and a 12 month high of $84.44. The firm has a 50-day moving average of $77.31 and a 200-day moving average of $75.69. The firm has a market capitalization of $14.22 billion, a price-to-earnings ratio of 66.59 and a beta of 1.51.

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

ILLEGAL ACTIVITY WARNING: This piece of content was published by Daily Political and is the sole property of of Daily Political. If you are viewing this piece of content on another site, it was copied illegally and reposted in violation of international copyright and trademark law. The correct version of this piece of content can be read at http://www.dailypolitical.com/2016/11/30/sei-investments-co-reduces-position-in-red-hat-inc-rht.html.

A number of research analysts have recently weighed in on RHT shares. Zacks Investment Research cut shares of Red Hat from a “buy” rating to a “hold” rating in a research note on Tuesday, November 15th. Vetr raised shares of Red Hat from a “buy” rating to a “strong-buy” rating and set a $81.54 price objective for the company in a research note on Thursday, September 8th. Barclays PLC reissued a “buy” rating and set a $90.00 price objective on shares of Red Hat in a research note on Thursday, September 15th. Bank of America Corp. restated a “hold” rating and set a $90.00 target price on shares of Red Hat in a research report on Thursday, September 22nd. Finally, Citigroup Inc. raised their target price on shares of Red Hat from $90.00 to $92.00 and gave the stock a “buy” rating in a research report on Thursday, September 22nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-five have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $89.55.

In related news, Director General Henry Hugh Shelton sold 15,000 shares of the company’s stock in a transaction on Friday, September 30th. The shares were sold at an average price of $80.70, for a total transaction of $1,210,500.00. Following the completion of the transaction, the director now directly owns 9,026 shares in the company, valued at approximately $728,398.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Delisa Alexander sold 1,121 shares of the company’s stock in a transaction on Tuesday, October 18th. The shares were sold at an average price of $77.00, for a total transaction of $86,317.00. Following the transaction, the executive vice president now owns 57,356 shares of the company’s stock, valued at $4,416,412. The disclosure for this sale can be found here. Corporate insiders own 0.76% of the company’s stock.

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

Want to see what other hedge funds are holding RHT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Red Hat Inc. (NYSE:RHT).

Receive News & Ratings for Red Hat Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Red Hat Inc. and related companies with MarketBeat.com's FREE daily email newsletter.