Red Hat, Inc. (RHT) Stake Lessened by Montrusco Bolton Investments Inc.

Montrusco Bolton Investments Inc. trimmed its holdings in Red Hat, Inc. (NYSE:RHT) by 40.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 43,498 shares of the open-source software company’s stock after selling 29,190 shares during the period. Montrusco Bolton Investments Inc.’s holdings in Red Hat were worth $4,822,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. D.A. Davidson & CO. lifted its position in shares of Red Hat by 6.8% in the second quarter. D.A. Davidson & CO. now owns 1,071 shares of the open-source software company’s stock valued at $102,000 after buying an additional 68 shares during the last quarter. Nordea Investment Management AB lifted its position in shares of Red Hat by 1.3% in the second quarter. Nordea Investment Management AB now owns 7,011 shares of the open-source software company’s stock valued at $671,000 after buying an additional 92 shares during the last quarter. Gyroscope Capital Management Group LLC lifted its position in shares of Red Hat by 4.0% in the second quarter. Gyroscope Capital Management Group LLC now owns 2,429 shares of the open-source software company’s stock valued at $233,000 after buying an additional 93 shares during the last quarter. RB Capital Management LLC lifted its position in shares of Red Hat by 2.6% in the second quarter. RB Capital Management LLC now owns 3,875 shares of the open-source software company’s stock valued at $371,000 after buying an additional 100 shares during the last quarter. Finally, Outfitter Advisors LTD. lifted its position in shares of Red Hat by 0.9% in the second quarter. Outfitter Advisors LTD. now owns 11,120 shares of the open-source software company’s stock valued at $1,065,000 after buying an additional 100 shares during the last quarter. 94.01% of the stock is owned by institutional investors.

In related news, insider Michael A. Kelly sold 2,888 shares of the firm’s stock in a transaction dated Wednesday, October 18th. The stock was sold at an average price of $121.03, for a total value of $349,534.64. Following the sale, the insider now directly owns 8,751 shares of the company’s stock, valued at $1,059,133.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Delisa Alexander sold 1,073 shares of the firm’s stock in a transaction dated Tuesday, October 17th. The stock was sold at an average price of $120.36, for a total value of $129,146.28. Following the completion of the sale, the executive vice president now directly owns 38,150 shares in the company, valued at $4,591,734. The disclosure for this sale can be found here. Insiders sold 35,693 shares of company stock worth $4,078,446 over the last three months. 0.66% of the stock is owned by insiders.

COPYRIGHT VIOLATION WARNING: This report was first reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this report on another publication, it was illegally copied and reposted in violation of United States and international copyright laws. The original version of this report can be viewed at https://ledgergazette.com/2017/10/20/red-hat-inc-rht-stake-lessened-by-montrusco-bolton-investments-inc.html.

Several analysts recently weighed in on RHT shares. Barclays PLC lifted their price target on Red Hat from $105.00 to $120.00 and gave the stock an “overweight” rating in a report on Monday, September 18th. Bank of America Corporation reissued a “neutral” rating and set a $115.00 price target (up from $105.00) on shares of Red Hat in a report on Tuesday, September 26th. Oppenheimer Holdings, Inc. reissued an “outperform” rating and set a $105.00 price target (up from $96.00) on shares of Red Hat in a report on Thursday, June 22nd. Wells Fargo & Co reissued an “outperform” rating and set a $124.00 price target (up from $120.00) on shares of Red Hat in a report on Wednesday, September 27th. Finally, Piper Jaffray Companies started coverage on Red Hat in a report on Friday, June 23rd. They set a “neutral” rating and a $100.00 price target for the company. Ten investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. Red Hat presently has a consensus rating of “Buy” and an average target price of $110.93.

Shares of Red Hat, Inc. (NYSE:RHT) traded up 0.16% on Friday, hitting $121.80. The stock had a trading volume of 1,393,097 shares. The firm has a 50 day moving average of $111.77 and a 200-day moving average of $98.01. Red Hat, Inc. has a 1-year low of $68.54 and a 1-year high of $122.36. The firm has a market capitalization of $21.55 billion, a price-to-earnings ratio of 72.89 and a beta of 1.25.

Red Hat (NYSE:RHT) last announced its quarterly earnings data on Monday, September 25th. The open-source software company reported $0.77 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.10. Red Hat had a return on equity of 25.27% and a net margin of 11.49%. The fir

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. D.A. Davidson & CO. lifted its position in shares of Red Hat by 6.8% in the second quarter. D.A. Davidson & CO. now owns 1,071 shares of the open-source software company’s stock valued at $102,000 after buying an additional 68 shares during the last quarter. Nordea Investment Management AB lifted its position in shares of Red Hat by 1.3% in the second quarter. Nordea Investment Management AB now owns 7,011 shares of the open-source software company’s stock valued at $671,000 after buying an additional 92 shares during the last quarter. Gyroscope Capital Management Group LLC lifted its position in shares of Red Hat by 4.0% in the second quarter. Gyroscope Capital Management Group LLC now owns 2,429 shares of the open-source software company’s stock valued at $233,000 after buying an additional 93 shares during the last quarter. RB Capital Management LLC lifted its position in shares of Red Hat by 2.6% in the second quarter. RB Capital Management LLC now owns 3,875 shares of the open-source software company’s stock valued at $371,000 after buying an additional 100 shares during the last quarter. Finally, Outfitter Advisors LTD. lifted its position in shares of Red Hat by 0.9% in the second quarter. Outfitter Advisors LTD. now owns 11,120 shares of the open-source software company’s stock valued at $1,065,000 after buying an additional 100 shares during the last quarter. 94.01% of the stock is owned by institutional investors.

In related news, insider Michael A. Kelly sold 2,888 shares of the firm’s stock in a transaction dated Wednesday, October 18th. The stock was sold at an average price of $121.03, for a total value of $349,534.64. Following the sale, the insider now directly owns 8,751 shares of the company’s stock, valued at $1,059,133.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Delisa Alexander sold 1,073 shares of the firm’s stock in a transaction dated Tuesday, October 17th. The stock was sold at an average price of $120.36, for a total value of $129,146.28. Following the completion of the sale, the executive vice president now directly owns 38,150 shares in the company, valued at $4,591,734. The disclosure for this sale can be found here. Insiders sold 35,693 shares of company stock worth $4,078,446 over the last three months. 0.66% of the stock is owned by insiders.

COPYRIGHT VIOLATION WARNING: This report was first reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this report on another publication, it was illegally copied and reposted in violation of United States and international copyright laws. The original version of this report can be viewed at https://ledgergazette.com/2017/10/20/red-hat-inc-rht-stake-lessened-by-montrusco-bolton-investments-inc.html.

Several analysts recently weighed in on RHT shares. Barclays PLC lifted their price target on Red Hat from $105.00 to $120.00 and gave the stock an “overweight” rating in a report on Monday, September 18th. Bank of America Corporation reissued a “neutral” rating and set a $115.00 price target (up from $105.00) on shares of Red Hat in a report on Tuesday, September 26th. Oppenheimer Holdings, Inc. reissued an “outperform” rating and set a $105.00 price target (up from $96.00) on shares of Red Hat in a report on Thursday, June 22nd. Wells Fargo & Co reissued an “outperform” rating and set a $124.00 price target (up from $120.00) on shares of Red Hat in a report on Wednesday, September 27th. Finally, Piper Jaffray Companies started coverage on Red Hat in a report on Friday, June 23rd. They set a “neutral” rating and a $100.00 price target for the company. Ten investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. Red Hat presently has a consensus rating of “Buy” and an average target price of $110.93.

Shares of Red Hat, Inc. (NYSE:RHT) traded up 0.16% on Friday, hitting $121.80. The stock had a trading volume of 1,393,097 shares. The firm has a 50 day moving average of $111.77 and a 200-day moving average of $98.01. Red Hat, Inc. has a 1-year low of $68.54 and a 1-year high of $122.36. The firm has a market capitalization of $21.55 billion, a price-to-earnings ratio of 72.89 and a beta of 1.25.

Red Hat (NYSE:RHT) last announced its quarterly earnings data on Monday, September 25th. The open-source software company reported $0.77 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.10. Red Hat had a return on equity of 25.27% and a net margin of 11.49%. The firm had revenue of $723.60 million for the quarter, compared to analysts’ expectations of $699.56 million. During the same period last year, the firm earned $0.55 earnings per share. The company’s revenue for the quarter was up 20.6% compared to the same quarter last year. Equities analysts predict that Red Hat, Inc. will post $2.79 earnings per share for the current year.

Red Hat 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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