Jennison Associates LLC Has $83.88 Million Position in Red Hat Inc (NYSE:RHT)

Jennison Associates LLC cut its stake in Red Hat Inc (NYSE:RHT) by 88.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 446,753 shares of the open-source software company’s stock after selling 3,555,349 shares during the quarter. Jennison Associates LLC owned approximately 0.25% of Red Hat worth $83,882,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Harvest Management LLC increased its stake in shares of Red Hat by 30.2% in the second quarter. Harvest Management LLC now owns 69,000 shares of the open-source software company’s stock worth $12,955,000 after acquiring an additional 16,000 shares during the last quarter. TT International increased its stake in shares of Red Hat by 58.2% in the first quarter. TT International now owns 69,600 shares of the open-source software company’s stock worth $12,715,000 after acquiring an additional 25,600 shares during the last quarter. Strs Ohio increased its stake in shares of Red Hat by 279.2% in the second quarter. Strs Ohio now owns 265,881 shares of the open-source software company’s stock worth $49,921,000 after acquiring an additional 195,773 shares during the last quarter. Sigma Planning Corp increased its stake in shares of Red Hat by 6.0% in the first quarter. Sigma Planning Corp now owns 2,364 shares of the open-source software company’s stock worth $432,000 after acquiring an additional 134 shares during the last quarter. Finally, Commerzbank Aktiengesellschaft FI increased its stake in shares of Red Hat by 5.1% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 2,405 shares of the open-source software company’s stock worth $452,000 after acquiring an additional 117 shares during the last quarter. 85.75% of the stock is currently owned by institutional investors and hedge funds.

NYSE:RHT remained flat at $$187.71 during trading hours on Friday. 999,351 shares of the company were exchanged, compared to its average volume of 1,591,676. The company has a market cap of $33.43 billion, a P/E ratio of 67.28, a price-to-earnings-growth ratio of 3.98 and a beta of 0.45. Red Hat Inc has a 12-month low of $115.31 and a 12-month high of $189.14. The business has a 50 day moving average of $187.71 and a 200-day moving average of $184.53. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.11.

Red Hat (NYSE:RHT) last issued its quarterly earnings data on Thursday, June 20th. The open-source software company reported $1.00 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.14. The firm had revenue of $934.10 million during the quarter, compared to analysts’ expectations of $931.58 million. Red Hat had a net margin of 13.26% and a return on equity of 36.67%. Red Hat’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.72 earnings per share. Sell-side analysts forecast that Red Hat Inc will post 3.14 EPS for the current fiscal year.

RHT has been the topic of a number of research reports. Robert W. Baird reaffirmed a “not rated” rating on shares of Red Hat in a research note on Thursday, July 11th. William Blair downgraded shares of Red Hat from an “outperform” rating to a “market perform” rating and set a $188.30 price target on the stock. in a research note on Friday, June 21st. Eleven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Red Hat currently has an average rating of “Hold” and a consensus target price of $179.37.

Red Hat Company 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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