Sustainable Growth Advisers Lp buys $187.1 Million stake in Red Hat Inc (RHT)

Red Hat Inc (RHT) : Sustainable Growth Advisers Lp scooped up 729,313 additional shares in Red Hat Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 12, 2016. The investment management firm now holds a total of 2,596,344 shares of Red Hat Inc which is valued at $187.1 Million.Red Hat Inc makes up approximately 4.06% of Sustainable Growth Advisers Lp’s portfolio.

Other Hedge Funds, Including , Oppenheimerfunds boosted its stake in RHT in the latest quarter, The investment management firm added 39,245 additional shares and now holds a total of 288,990 shares of Red Hat Inc which is valued at $20.8 Million. Red Hat Inc makes up approx 0.03% of Oppenheimerfunds’s portfolio.Blackrock Group Ltd boosted its stake in RHT in the latest quarter, The investment management firm added 61,955 additional shares and now holds a total of 1,416,051 shares of Red Hat Inc which is valued at $102 Million. Red Hat Inc makes up approx 0.06% of Blackrock Group Ltd’s portfolio.Parkwood reduced its stake in RHT by selling 4,434 shares or 52.62% in the most recent quarter. The Hedge Fund company now holds 3,992 shares of RHT which is valued at $286,346. Red Hat Inc makes up approx 0.05% of Parkwood’s portfolio.Rhumbline Advisers boosted its stake in RHT in the latest quarter, The investment management firm added 3,045 additional shares and now holds a total of 288,395 shares of Red Hat Inc which is valued at $20.7 Million. Red Hat Inc makes up approx 0.06% of Rhumbline Advisers’s portfolio.Shamrock Asset Management reduced its stake in RHT by selling 197 shares or 46.14% in the most recent quarter. The Hedge Fund company now holds 230 shares of RHT which is valued at $16,498. Red Hat Inc makes up approx 0.01% of Shamrock Asset Management’s portfolio.

Red Hat Inc opened for trading at $72.77 and hit $73.45 on the upside on Friday, eventually ending the session at $73.17, with a gain of 1.01% or 0.73 points. The heightened volatility saw the trading volume jump to 8,10,508 shares. Company has a market cap of $13,276 M.

On the company’s financial health, Red Hat Inc reported $0.52 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Mar 22, 2016. Analyst had a consensus of $0.47. The company had revenue of $544.00 million for the quarter, compared to analysts expectations of $537.50 million. The company’s revenue was up 17.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.43 EPS.

Many Wall Street Analysts have commented on Red Hat Inc. Red Hat Inc was Upgraded by Pacific Crest to ” Overweight” on Apr 14, 2016. Shares were Reiterated by BMO Capital Markets on Mar 23, 2016 to “Outperform” and Lowered the Price Target to $ 88 from a previous price target of $90 .Company shares were Reiterated by Drexel Hamilton on Mar 23, 2016 to “Buy”, Firm has raised the Price Target to $ 105 from a previous price target of $98 .

Red Hat Inc. is a provider of open source software solutions using a community-powered approach to develop and offer operating system virtualization middleware storage and cloud technologies. The Company employs an open source development model. The open source development model allows it to use the collective input resources and knowledge of a global community of contributors who can collaborate to develop maintain and enhance software because the human-readable source code for that software is publicly available and licenses permit modification. The Company distributes its software offerings under open source licenses that permit access to the software’s human-readable source code. The Company provides its software offerings primarily under annual or multi-year subscriptions as well as on-demand through cloud service providers.

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