Schwab Charles Investment Management Inc. raised its stake in shares of New Relic, Inc. (NYSE:NEWR) by 6.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 108,841 shares of the software maker’s stock after buying an additional 6,480 shares during the period. Schwab Charles Investment Management Inc.’s holdings in New Relic were worth $4,035,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. FMR LLC increased its position in New Relic by 1.3% in the first quarter. FMR LLC now owns 7,916,649 shares of the software maker’s stock valued at $293,470,000 after buying an additional 99,245 shares during the last quarter. Vanguard Group Inc. increased its position in New Relic by 3.7% in the first quarter. Vanguard Group Inc. now owns 2,643,448 shares of the software maker’s stock valued at $97,993,000 after buying an additional 94,562 shares during the last quarter. Champlain Investment Partners LLC increased its position in New Relic by 21.3% in the first quarter. Champlain Investment Partners LLC now owns 1,682,895 shares of the software maker’s stock valued at $62,385,000 after buying an additional 295,085 shares during the last quarter. Bank of New York Mellon Corp increased its position in New Relic by 66.4% in the first quarter. Bank of New York Mellon Corp now owns 1,051,025 shares of the software maker’s stock valued at $38,961,000 after buying an additional 419,316 shares during the last quarter. Finally, Sumitomo Mitsui Asset Management Company LTD increased its position in New Relic by 3.8% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 857,875 shares of the software maker’s stock valued at $31,801,000 after buying an additional 31,460 shares during the last quarter. Hedge funds and other institutional investors own 71.79% of the company’s stock.

Shares of New Relic, Inc. (NYSE NEWR) traded down 0.11% during midday trading on Tuesday, reaching $45.54. The company had a trading volume of 109,006 shares. The firm’s market capitalization is $2.48 billion. The company has a 50 day moving average price of $45.80 and a 200-day moving average price of $40.85. New Relic, Inc. has a one year low of $27.85 and a one year high of $49.19.

New Relic (NYSE:NEWR) last posted its quarterly earnings results on Thursday, August 3rd. The software maker reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.03. The company had revenue of $80.10 million for the quarter, compared to analysts’ expectations of $78.09 million. New Relic had a negative net margin of 20.68% and a negative return on equity of 29.19%. New Relic’s revenue was up 36.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.20) EPS. On average, analysts anticipate that New Relic, Inc. will post ($0.25) EPS for the current fiscal year.

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Several equities analysts have recently commented on NEWR shares. BidaskClub downgraded New Relic from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. First Analysis downgraded New Relic from an “overweight” rating to an “equal weight” rating and set a $50.00 target price on the stock. in a research report on Friday, August 4th. Morgan Stanley downgraded New Relic from an “overweight” rating to an “equal weight” rating and upped their target price for the company from $45.00 to $48.00 in a research report on Thursday, July 20th. They noted that the move was a valuation call. Zacks Investment Research downgraded New Relic from a “buy” rating to a “hold” rating in a research report on Tuesday, May 16th. Finally, UBS AG upped their target price on New Relic from $42.00 to $47.00 and gave the company a “neutral” rating in a research report on Friday, August 4th. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $47.36.

In other New Relic news, CFO Mark Sachleben sold 10,000 shares of the business’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $44.60, for a total transaction of $446,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider James R. Gochee sold 4,789 shares of the business’s stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $43.71, for a total transaction of $209,327.19. Following the sale, the insider now directly owns 363,941 shares in the company, valued at approximately $15,907,861.11. The disclosure for this sale can be found here. Insiders have sold a total of 216,303 shares of company stock worth $9,552,796 in the last three months. Insiders own 23.10% of the company’s stock.

New Relic Company 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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Institutional Ownership by Quarter for New Relic (NYSE:NEWR)

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