New Relic, Inc. (NEWR) Stake Boosted by Botty Investors LLC
Botty Investors LLC raised its stake in New Relic, Inc. (NYSE:NEWR) by 23.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,809 shares of the software maker’s stock after buying an additional 535 shares during the period. Botty Investors LLC’s holdings in New Relic were worth $121,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Wrapmanager Inc. increased its stake in New Relic by 16.4% in the first quarter. Wrapmanager Inc. now owns 9,829 shares of the software maker’s stock worth $364,000 after buying an additional 1,386 shares during the period. OLD National Bancorp IN increased 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 worth $495,000 after buying an additional 1,044 shares during the last quarter. Jennison Associates LLC bought a new position in shares of New Relic during the first quarter worth about $16,703,000. Sumitomo Mitsui Asset Management Company LTD increased its position in shares of 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 worth $31,801,000 after buying an additional 31,460 shares during the last quarter. Finally, Essex Investment Management Co. LLC bought a new position in shares of New Relic during the first quarter worth about $453,000. 71.79% of the stock is owned by institutional investors and hedge funds.
Shares of New Relic, Inc. (NYSE:NEWR) opened at 45.88 on Wednesday. The stock has a 50 day moving average price of $45.87 and a 200-day moving average price of $40.92. New Relic, Inc. has a 52-week low of $27.85 and a 52-week high of $49.19. The stock’s market capitalization is $2.50 billion.
New Relic (NYSE:NEWR) last issued its quarterly earnings data on Thursday, August 3rd. The software maker reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.03. The firm had revenue of $80.10 million during the quarter, compared to analysts’ expectations of $78.09 million. New Relic had a negative return on equity of 29.19% and a negative net margin of 20.68%. New Relic’s revenue was up 36.7% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.20) earnings per share. On average, equities research analysts anticipate that New Relic, Inc. will post ($0.25) EPS for the current fiscal year.
A number of research analysts have issued reports on the company. Morgan Stanley downgraded New Relic from an “overweight” rating to an “equal weight” rating and boosted their price target for the company from $45.00 to $48.00 in a report on Thursday, July 20th. They noted that the move was a valuation call. Oppenheimer Holdings, Inc. reissued an “outperform” rating and issued a $46.00 price target (up from $40.00) on shares of New Relic in a report on Friday, May 12th. UBS AG boosted their price target on New Relic from $42.00 to $47.00 and gave the company a “neutral” rating in a report on Friday, August 4th. Stephens assumed coverage on New Relic in a report on Thursday, May 25th. They issued an “overweight” rating and a $55.00 price target for the company. Finally, Zacks Investment Research downgraded New Relic from a “buy” rating to a “hold” rating in a report on Tuesday, May 16th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. New Relic presently has an average rating of “Buy” and an average target price of $47.36.
In other New Relic news, CEO Lewis Cirne sold 33,000 shares of the firm’s stock in a transaction on Wednesday, June 7th. The stock was sold at an average price of $43.68, for a total transaction of $1,441,440.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Mark Sachleben sold 3,500 shares of the firm’s stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $44.56, for a total value of $155,960.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 211,514 shares of company stock valued at $9,343,469. 23.10% of the stock is currently owned by insiders.
About New Relic
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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