New Relic, Inc. (NEWR) Shares Bought by Teachers Advisors LLC
Teachers Advisors LLC increased its position in New Relic, Inc. (NYSE:NEWR) by 1.4% during the first quarter, Holdings Channel reports. The firm owned 58,125 shares of the software maker’s stock after buying an additional 811 shares during the period. Teachers Advisors LLC’s holdings in New Relic were worth $2,155,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Suntrust Banks Inc. acquired a new position in shares of New Relic during the first quarter valued at $337,000. Bank of New York Mellon Corp raised its position in shares of 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. Tygh Capital Management Inc. acquired a new position in shares of New Relic during the first quarter valued at $4,628,000. Wrapmanager Inc. raised its position in shares of New Relic by 16.4% in the first quarter. Wrapmanager Inc. now owns 9,829 shares of the software maker’s stock valued at $364,000 after buying an additional 1,386 shares during the last quarter. Finally, OLD National Bancorp IN raised its position in shares of New Relic by 8.5% in the first quarter. OLD National Bancorp IN now owns 13,351 shares of the software maker’s stock valued at $495,000 after buying an additional 1,044 shares during the last quarter. 71.79% of the stock is currently owned by hedge funds and other institutional investors.
Shares of New Relic, Inc. (NYSE:NEWR) traded up 0.57% during trading on Friday, reaching $45.93. The company’s stock had a trading volume of 920,244 shares. New Relic, Inc. has a 52 week low of $27.85 and a 52 week high of $49.19. The stock’s 50 day moving average price is $46.14 and its 200 day moving average price is $41.07. The company’s market cap is $2.50 billion.
New Relic (NYSE:NEWR) last announced its quarterly earnings data on Thursday, August 3rd. The software maker reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.03. New Relic had a negative return on equity of 29.19% and a negative net margin of 20.68%. The company had revenue of $80.10 million for the quarter, compared to analysts’ expectations of $78.09 million. During the same quarter in the prior year, the business posted ($0.20) EPS. The business’s revenue was up 36.7% compared to the same quarter last year. Equities research analysts predict that New Relic, Inc. will post ($0.25) EPS for the current year.
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Several brokerages recently weighed in on NEWR. Morgan Stanley lowered shares of New Relic from an “overweight” rating to an “equal weight” rating and raised their price objective 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. BidaskClub lowered shares of New Relic from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. UBS AG raised their price objective on shares of New Relic from $42.00 to $47.00 and gave the company a “neutral” rating in a research report on Friday, August 4th. First Analysis lowered shares of New Relic from an “overweight” rating to an “equal weight” rating and set a $50.00 price objective on the stock. in a research report on Friday, August 4th. Finally, Zacks Investment Research lowered shares of New Relic from a “buy” rating to a “hold” rating in a research report on Tuesday, May 16th. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $47.36.
In other New Relic news, CFO Mark Sachleben sold 3,500 shares of the company’s stock in a transaction on Monday, June 5th. The stock was sold at an average price of $44.13, for a total value of $154,455.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Robin Schulman sold 667 shares of the company’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $47.03, for a total value of $31,369.01. Following the completion of the transaction, the vice president now directly owns 1,244 shares in the company, valued at $58,505.32. The disclosure for this sale can be found here. In the last quarter, insiders have sold 220,518 shares of company stock worth $9,763,234. Company 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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