Toronto Dominion Bank increased its stake in shares of Red Hat Inc (NYSE:RHT) by 99.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 190,121 shares of the open-source software company’s stock after purchasing an additional 94,712 shares during the quarter. Toronto Dominion Bank owned approximately 0.11% of Red Hat worth $25,542,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of RHT. Mount Yale Investment Advisors LLC purchased a new stake in Red Hat during the 1st quarter worth about $103,000. Migdal Insurance & Financial Holdings Ltd. increased its position in Red Hat by 16,350.0% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 987 shares of the open-source software company’s stock worth $133,000 after purchasing an additional 981 shares in the last quarter. Summit Trail Advisors LLC increased its position in Red Hat by 17,117.4% during the 1st quarter. Summit Trail Advisors LLC now owns 137,395 shares of the open-source software company’s stock worth $137,000 after purchasing an additional 136,597 shares in the last quarter. Financial Architects Inc increased its position in Red Hat by 95.2% during the 2nd quarter. Financial Architects Inc now owns 1,025 shares of the open-source software company’s stock worth $137,000 after purchasing an additional 500 shares in the last quarter. Finally, Pitcairn Co. purchased a new stake in Red Hat during the 1st quarter worth about $203,000. Hedge funds and other institutional investors own 95.63% of the company’s stock.

A number of analysts recently commented on the company. Zacks Investment Research upgraded Red Hat from a “hold” rating to a “buy” rating and set a $159.00 price objective for the company in a research report on Tuesday, June 26th. Monness Crespi & Hardt dropped their price objective on Red Hat from $200.00 to $186.00 and set a “buy” rating for the company in a research report on Friday, June 22nd. ValuEngine cut Red Hat from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 22nd. BMO Capital Markets lifted their price objective on Red Hat from $180.00 to $192.00 and gave the stock a “market perform” rating in a research report on Tuesday, June 19th. Finally, Wells Fargo & Co reiterated an “outperform” rating and set a $170.00 price objective on shares of Red Hat in a research report on Friday, June 22nd. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and twenty have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $157.83.

In other news, insider Michael A. Kelly sold 636 shares of Red Hat stock in a transaction dated Tuesday, July 17th. The stock was sold at an average price of $145.00, for a total value of $92,220.00. Following the transaction, the insider now directly owns 5,965 shares of the company’s stock, valued at approximately $864,925. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Delisa Alexander sold 2,305 shares of Red Hat stock in a transaction dated Tuesday, July 17th. The shares were sold at an average price of $145.00, for a total value of $334,225.00. Following the completion of the transaction, the executive vice president now directly owns 36,309 shares in the company, valued at $5,264,805. The disclosure for this sale can be found here. Insiders sold a total of 56,926 shares of company stock worth $8,145,758 over the last ninety days. Corporate insiders own 0.58% of the company’s stock.

Shares of NYSE:RHT opened at $140.79 on Friday. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.39. Red Hat Inc has a 12-month low of $100.15 and a 12-month high of $177.70. The stock has a market capitalization of $25.68 billion, a price-to-earnings ratio of 61.21, a price-to-earnings-growth ratio of 3.53 and a beta of 1.07.

Red Hat (NYSE:RHT) last released its quarterly earnings data on Thursday, June 21st. The open-source software company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.03. The business had revenue of $813.53 million for the quarter, compared to analyst estimates of $807.48 million. Red Hat had a return on equity of 30.40% and a net margin of 9.77%. The company’s revenue was up 20.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.56 EPS. sell-side analysts expect that Red Hat Inc will post 2.56 earnings per share for the current year.

Red Hat declared that its board has authorized a stock repurchase plan on Thursday, June 21st that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the open-source software company to repurchase up to 4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

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.

Featured Story: Fundamental Analysis – How It Helps Investors

Want to see what other hedge funds are holding RHT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Red Hat Inc (NYSE:RHT).

Institutional Ownership by Quarter for Red Hat (NYSE:RHT)

Receive News & Ratings for Red Hat Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Red Hat and related companies with MarketBeat.com's FREE daily email newsletter.