New Relic, Inc. (NEWR) Shares Bought by Macquarie Group Ltd.
Macquarie Group Ltd. lifted its holdings in shares of New Relic, Inc. (NYSE:NEWR) by 3.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 42,696 shares of the software maker’s stock after buying an additional 1,587 shares during the period. Macquarie Group Ltd. owned 0.08% of New Relic worth $2,126,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Ameritas Investment Partners Inc. grew its position in shares of New Relic by 50.4% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,573 shares of the software maker’s stock valued at $111,000 after buying an additional 862 shares during the last quarter. ETF Managers Group LLC bought a new stake in shares of New Relic during the 2nd quarter valued at about $118,000. Botty Investors LLC grew its position in shares of New Relic by 23.5% during the 2nd quarter. Botty Investors LLC now owns 2,809 shares of the software maker’s stock valued at $121,000 after buying an additional 535 shares during the last quarter. BNP Paribas Arbitrage SA grew its position in shares of New Relic by 507.2% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 3,813 shares of the software maker’s stock valued at $164,000 after buying an additional 3,185 shares during the last quarter. Finally, BT Investment Management Ltd bought a new stake in shares of New Relic during the 2nd quarter valued at about $186,000. 77.16% of the stock is owned by institutional investors and hedge funds.
In related news, CEO Lewis Cirne sold 33,000 shares of the stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $48.43, for a total transaction of $1,598,190.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider James R. Gochee sold 4,000 shares of the stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $49.70, for a total transaction of $198,800.00. Following the sale, the insider now directly owns 346,980 shares of the company’s stock, valued at $17,244,906. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 185,591 shares of company stock valued at $9,426,662. Company insiders own 23.10% of the company’s stock.
Several research analysts have commented on the stock. BidaskClub upgraded shares of New Relic from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 24th. UBS assumed coverage on shares of New Relic in a research report on Thursday, November 9th. They issued a “neutral” rating and a $53.00 target price for the company. JMP Securities upped their target price on shares of New Relic from $54.00 to $56.00 and gave the stock a “market outperform” rating in a research report on Wednesday, November 8th. KeyCorp restated an “overweight” rating and issued a $57.00 target price (up previously from $52.00) on shares of New Relic in a research report on Wednesday, November 8th. Finally, Oppenheimer restated a “buy” rating and issued a $50.00 target price on shares of New Relic in a research report on Tuesday, September 19th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. New Relic presently has a consensus rating of “Buy” and an average price target of $53.58.
Shares of New Relic, Inc. (NYSE NEWR) remained flat at $$56.11 during trading hours on Wednesday. The company had a trading volume of 354,600 shares, compared to its average volume of 464,826. New Relic, Inc. has a one year low of $27.85 and a one year high of $59.90.
New Relic (NYSE:NEWR) last issued its quarterly earnings results on Tuesday, November 7th. The software maker reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.04. The company had revenue of $84.68 million during the quarter, compared to analyst estimates of $82.98 million. New Relic had a negative net margin of 19.43% and a negative return on equity of 29.19%. The business’s revenue for the quarter was up 33.5% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.09) EPS. research analysts predict that New Relic, Inc. will post -0.98 EPS for the current 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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