Sustainable Growth Advisers Lp Lowers stake in Red Hat Inc (RHT)

Red Hat Inc (RHT) : Sustainable Growth Advisers Lp reduced its stake in Red Hat Inc by 0.84% during the most recent quarter end. The investment management company now holds a total of 2,574,475 shares of Red Hat Inc which is valued at $191,592,430 after selling 21,869 shares in Red Hat Inc , the firm said in a disclosure report filed with the SEC on Aug 8, 2016.Red Hat Inc makes up approximately 3.78% of Sustainable Growth Advisers Lp’s portfolio.

Other Hedge Funds, Including , Oppenheimer Co Inc boosted its stake in RHT in the latest quarter, The investment management firm added 109 additional shares and now holds a total of 33,543 shares of Red Hat Inc which is valued at $2,496,270. Red Hat Inc makes up approx 0.07% of Oppenheimer Co Inc’s portfolio.Sg Americas Securities boosted its stake in RHT in the latest quarter, The investment management firm added 7,837 additional shares and now holds a total of 13,916 shares of Red Hat Inc which is valued at $1,037,855. Red Hat Inc makes up approx 0.01% of Sg Americas Securities’s portfolio.Palisade Capital Managementnj reduced its stake in RHT by selling 9,000 shares or 26.55% in the most recent quarter. The Hedge Fund company now holds 24,900 shares of RHT which is valued at $1,857,042. Red Hat Inc makes up approx 0.08% of Palisade Capital Managementnj’s portfolio.Nisa Investment Advisors boosted its stake in RHT in the latest quarter, The investment management firm added 2,150 additional shares and now holds a total of 36,580 shares of Red Hat Inc which is valued at $2,663,024. Red Hat Inc makes up approx 0.03% of Nisa Investment Advisors’s portfolio.

Red Hat Inc closed down -0.03 points or -0.04% at $73.97 with 14,51,954 shares getting traded on Monday. Post opening the session at $74.16, the shares hit an intraday low of $73.16 and an intraday high of $74.16 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Red Hat Inc reported $0.50 EPS for the quarter, based on the information available during the earnings call on Jun 22, 2016. Analyst had a consensus estimate of $0.50. The company had revenue of $567.90 million for the quarter, compared to analysts expectations of $562.61 million. The company’s revenue was up 18.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.44 EPS.

Many Wall Street Analysts have commented on Red Hat Inc. Red Hat Inc was Downgraded by Morgan Stanley to ” Equal-Weight” on Jul 7, 2016. Shares were Reiterated by BMO Capital Markets on Jun 23, 2016 to “Outperform” and Lowered the Price Target to $ 85 from a previous price target of $88 .

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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