Castleark Management LLC decreased its stake in New Relic Inc (NYSE:NEWR) by 0.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 215,085 shares of the software maker’s stock after selling 910 shares during the period. Castleark Management LLC owned approximately 0.39% of New Relic worth $12,425,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of the company. BlackRock Inc. boosted its position in shares of New Relic by 4.4% in the fourth quarter. BlackRock Inc. now owns 2,215,858 shares of the software maker’s stock worth $128,010,000 after buying an additional 94,283 shares during the period. First Trust Advisors LP boosted its position in shares of New Relic by 2,139.1% in the fourth quarter. First Trust Advisors LP now owns 1,264,352 shares of the software maker’s stock worth $73,042,000 after buying an additional 1,207,885 shares during the period. ArrowMark Colorado Holdings LLC boosted its position in shares of New Relic by 4.3% in the fourth quarter. ArrowMark Colorado Holdings LLC now owns 849,956 shares of the software maker’s stock worth $49,102,000 after buying an additional 35,388 shares during the period. TimesSquare Capital Management LLC boosted its position in shares of New Relic by 10.1% in the fourth quarter. TimesSquare Capital Management LLC now owns 625,350 shares of the software maker’s stock worth $36,126,000 after buying an additional 57,310 shares during the period. Finally, Two Sigma Advisers LP boosted its position in shares of New Relic by 4.0% in the fourth quarter. Two Sigma Advisers LP now owns 482,999 shares of the software maker’s stock worth $27,903,000 after buying an additional 18,700 shares during the period. 75.76% of the stock is owned by institutional investors.
In other New Relic news, CFO Mark Sachleben sold 1,161 shares of the company’s stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $59.21, for a total transaction of $68,742.81. Following the sale, the chief financial officer now owns 2,203 shares in the company, valued at $130,439.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider James R. Gochee sold 333 shares of the company’s stock in a transaction that occurred on Friday, March 16th. The shares were sold at an average price of $75.90, for a total value of $25,274.70. Following the sale, the insider now owns 329,275 shares in the company, valued at approximately $24,991,972.50. The disclosure for this sale can be found here. Insiders have sold 317,916 shares of company stock worth $21,144,295 in the last 90 days. 23.10% of the stock is currently owned by insiders.
A number of brokerages recently commented on NEWR. Zacks Investment Research downgraded New Relic from a “buy” rating to a “hold” rating in a report on Friday, March 9th. Wedbush began coverage on New Relic in a report on Friday, February 23rd. They issued an “outperform” rating and a $86.00 price target for the company. Oppenheimer increased their price target on New Relic from $57.00 to $66.00 and gave the company an “outperform” rating in a report on Wednesday, February 7th. JPMorgan Chase & Co. downgraded New Relic from an “overweight” rating to a “neutral” rating and set a $62.00 price target for the company. in a report on Tuesday, December 12th. Finally, BMO Capital Markets began coverage on New Relic in a report on Friday, January 12th. They issued a “market perform” rating and a $68.00 price target for the company. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $63.71.
New Relic Inc (NYSE NEWR) opened at $75.75 on Friday. The company has a market capitalization of $4,177.50, a PE ratio of -76.51 and a beta of 0.67. New Relic Inc has a 1-year low of $34.61 and a 1-year high of $76.54.
New Relic (NYSE:NEWR) last announced its quarterly earnings data on Tuesday, February 6th. The software maker reported $0.05 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.07) by $0.12. New Relic had a negative return on equity of 25.22% and a negative net margin of 16.17%. The firm had revenue of $91.83 million for the quarter, compared to analysts’ expectations of $89.31 million. During the same quarter in the prior year, the firm posted ($0.09) earnings per share. New Relic’s revenue for the quarter was up 34.8% compared to the same quarter last year. analysts anticipate that New Relic Inc will post -0.77 earnings per share for the current fiscal year.
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New Relic Profile
New Relic, Inc (New Relic) is a provider of enterprise software. The Company’s cloud-based platform and range of products enable organizations to collect, store and analyze software data in real time. The Company’s New Relic Software Analytics Cloud consists of an integrated suite of products, a data database and an open platform.
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