DAVENPORT & Co LLC acquired a new stake in shares of Red Hat Inc (NYSE:RHT) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,947 shares of the open-source software company’s stock, valued at approximately $234,000.

A number of other institutional investors have also made changes to their positions in RHT. Schroder Investment Management Group raised its stake in Red Hat by 41.2% during the 2nd quarter. Schroder Investment Management Group now owns 55,305 shares of the open-source software company’s stock valued at $5,282,000 after acquiring an additional 16,146 shares in the last quarter. Martingale Asset Management L P bought a new stake in Red Hat during the 2nd quarter valued at $250,000. Profund Advisors LLC raised its stake in Red Hat by 19.9% during the 2nd quarter. Profund Advisors LLC now owns 6,128 shares of the open-source software company’s stock valued at $587,000 after acquiring an additional 1,015 shares in the last quarter. ProShare Advisors LLC raised its stake in Red Hat by 9.8% during the 2nd quarter. ProShare Advisors LLC now owns 19,999 shares of the open-source software company’s stock valued at $1,915,000 after acquiring an additional 1,778 shares in the last quarter. Finally, Mutual of America Capital Management LLC raised its stake in Red Hat by 3.9% during the 2nd quarter. Mutual of America Capital Management LLC now owns 26,803 shares of the open-source software company’s stock valued at $2,566,000 after acquiring an additional 1,004 shares in the last quarter. 94.32% of the stock is currently owned by hedge funds and other institutional investors.

Several analysts have weighed in on RHT shares. Zacks Investment Research raised Red Hat from a “hold” rating to a “buy” rating and set a $120.00 target price on the stock in a research note on Thursday, September 21st. Stifel Nicolaus reaffirmed a “buy” rating and set a $115.00 target price on shares of Red Hat in a research note on Wednesday, September 20th. Drexel Hamilton reaffirmed a “buy” rating and set a $130.00 target price (up previously from $127.00) on shares of Red Hat in a research note on Monday, September 25th. Mizuho reaffirmed a “buy” rating and set a $125.00 target price (up previously from $109.00) on shares of Red Hat in a research note on Tuesday, September 26th. Finally, Deutsche Bank reaffirmed a “buy” rating and set a $120.00 target price (up previously from $110.00) on shares of Red Hat in a research note on Tuesday, September 26th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and twenty-two have assigned a buy rating to the stock. Red Hat currently has an average rating of “Buy” and a consensus price target of $124.25.

Shares of Red Hat Inc (RHT) opened at $126.60 on Thursday. Red Hat Inc has a 12 month low of $72.78 and a 12 month high of $130.93. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $22,400.00, a price-to-earnings ratio of 68.80, a PEG ratio of 3.85 and a beta of 1.19.

Red Hat (NYSE:RHT) last posted its quarterly earnings data on Tuesday, December 19th. The open-source software company reported $0.73 EPS for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.03. The company had revenue of $747.98 million for the quarter, compared to the consensus estimate of $734.69 million. Red Hat had a return on equity of 26.23% and a net margin of 12.14%. The company’s quarterly revenue was up 21.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.61 EPS. research analysts forecast that Red Hat Inc will post 2.08 earnings per share for the current fiscal year.

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Red Hat Company Profile

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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