Simplex Trading buys $838,606 stake in Red Hat Inc (RHT)

Red Hat Inc (RHT) : Simplex Trading scooped up 9,088 additional shares in Red Hat Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 7, 2016. The investment management firm now holds a total of 10,779 shares of Red Hat Inc which is valued at $838,606.Red Hat Inc makes up approximately 0.11% of Simplex Trading’s portfolio.

Other Hedge Funds, Including , Exxonmobil Investment Management Inc Tx reduced its stake in RHT by selling 725 shares or 1.54% in the most recent quarter. The Hedge Fund company now holds 46,240 shares of RHT which is valued at $3,597,472. Red Hat Inc makes up approx 0.08% of Exxonmobil Investment Management Inc Tx’s portfolio.Bnp Paribas Arbitrage Sa boosted its stake in RHT in the latest quarter, The investment management firm added 101,078 additional shares and now holds a total of 117,336 shares of Red Hat Inc which is valued at $9,319,998. Red Hat Inc makes up approx 0.04% of Bnp Paribas Arbitrage Sa’s portfolio.Chevy Chase Trust Holdings reduced its stake in RHT by selling 33,151 shares or 8.51% in the most recent quarter. The Hedge Fund company now holds 356,281 shares of RHT which is valued at $28,299,400. Red Hat Inc makes up approx 0.16% of Chevy Chase Trust Holdings’s portfolio. Ct Mason added RHT to its portfolio by purchasing 17,325 company shares during the most recent quarter which is valued at $1,376,125. Red Hat Inc makes up approx 0.61% of Ct Mason’s portfolio.

Red Hat Inc closed down -0.79 points or -1.01% at $77.8 with 16,36,617 shares getting traded on Friday. Post opening the session at $78.42, the shares hit an intraday low of $77.63 and an intraday high of $78.72 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, Red Hat Inc reported $0.55 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Sep 21, 2016. Analyst had a consensus of $0.54. The company had revenue of $599.80 million for the quarter, compared to analysts expectations of $589.97 million. The company’s revenue was up 19.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.47 EPS.

Many Wall Street Analysts have commented on Red Hat Inc. Company shares were Reiterated by BMO Capital Markets on Sep 22, 2016 to “Outperform”, Firm has raised the Price Target to $ 89 from a previous price target of $85 .

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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