Rational Advisors LLC decreased its position in Red Hat Inc (NYSE:RHT) by 8.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 997 shares of the open-source software company’s stock after selling 92 shares during the quarter. Rational Advisors LLC’s holdings in Red Hat were worth $182,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RHT. Piedmont Investment Advisors Inc. grew its holdings in Red Hat by 1.9% during the first quarter. Piedmont Investment Advisors Inc. now owns 15,717 shares of the open-source software company’s stock worth $2,871,000 after purchasing an additional 287 shares during the period. Barings LLC bought a new position in Red Hat during the first quarter worth about $723,000. Freestone Capital Holdings LLC grew its holdings in Red Hat by 57.5% during the first quarter. Freestone Capital Holdings LLC now owns 6,297 shares of the open-source software company’s stock worth $1,150,000 after purchasing an additional 2,299 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Red Hat by 131.8% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 16,225 shares of the open-source software company’s stock worth $2,964,000 after purchasing an additional 9,225 shares during the period. Finally, Greenleaf Trust grew its holdings in Red Hat by 7.2% during the first quarter. Greenleaf Trust now owns 1,511 shares of the open-source software company’s stock worth $276,000 after purchasing an additional 101 shares during the period. 93.92% of the stock is currently owned by hedge funds and other institutional investors.

Separately, ValuEngine cut Red Hat from a “strong-buy” rating to a “buy” rating in a report on Monday, April 1st. Thirteen research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $168.33.

Shares of NYSE:RHT opened at $185.69 on Friday. Red Hat Inc has a 12-month low of $115.31 and a 12-month high of $186.36. The company has a market cap of $33.01 billion, a PE ratio of 66.56, a PEG ratio of 4.09 and a beta of 0.52. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.27 and a quick ratio of 1.27.

Red Hat (NYSE:RHT) last issued its quarterly earnings data on Monday, March 25th. The open-source software company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.15. Red Hat had a return on equity of 35.35% and a net margin of 12.91%. The company had revenue of $879.00 million during the quarter, compared to analysts’ expectations of $885.64 million. During the same quarter in the previous year, the company posted $0.91 earnings per share. The business’s revenue was up 13.8% on a year-over-year basis. As a group, sell-side analysts predict that Red Hat Inc will post 3.04 earnings per share 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.

Further Reading: Earnings Per Share (EPS) Explained

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

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