American International Group Inc. now owns 13,522 shares of the software maker's stock valued at $501,000 after buying an additional 894 shares in the last quarter. State Board of Administration of Florida Retirement System's holdings in New Relic were worth $562,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NEWR. Geode Capital Management LLC now owns 237,307 shares of the software maker's stock valued at $8,796,000 after buying an additional 15,761 shares in the last quarter. Envestnet Asset Management Inc. raised its position in New Relic by 203.4% in the first quarter. Hamilton Lane Advisors LLC now owns 123,409 shares of the software maker's stock worth $4,575,000 after buying an additional 3,175 shares during the period. Clearbridge Investments LLC boosted its stake in shares of New Relic by 377.8% in the first quarter. Clearbridge Investments LLC now owns 1,368,733 shares of the software maker's stock valued at $50,739,000 after buying an additional 1,082,245 shares during the last quarter. Jennison Associates LLC acquired a new stake in shares of New Relic during the first quarter valued at $16,703,000. Institutional investors and hedge funds own 70.59% of the company's stock. First Analysis initiated New Relic Inc (NYSE:NEWR) rating on Wednesday, September 9. (NYSE:NEWR) traded down 1.30% during trading on Friday, hitting $47.08.
New Relic, Inc. has a 12-month low of $27.85 and a 12-month high of $49.19. New Relic, Inc. The stock's market cap is $2.52 billion. The company has a 50-day moving average price of $44.07 and a 200 day moving average price of $39.09.
New Relic (NYSE:NEWR) last released its quarterly earnings results on Tuesday, May 9th. The software maker reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.04. After posting $-0.26 EPS for the previous quarter, New Relic Inc's analysts now forecast 7.69 % negative EPS growth. The business had revenue of $73.30 million for the quarter, compared to the consensus estimate of $73.04 million. During the same quarter in the prior year, the company earned ($0.24) earnings per share. New Relic's quarterly revenue was up 39.6% on a year-over-year basis.
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NEWR has been the topic of several research reports. Finally, Morgan Stanley cut 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 note on Thursday. CIBC upped their price objective on New Relic from $40.00 to $46.00 and gave the company an "outperform" rating in a research note on Monday, May 15th. Oppenheimer Holdings, Inc. set a $40.00 price objective on New Relic and gave the stock a "buy" rating in a research note on Tuesday, April 4th. They noted that the move was a valuation call. Finally, Stephens assumed coverage on New Relic in a research note on Thursday, May 25th. They set an "overweight" rating and a $55.00 target price on the stock. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. New Relic now has an average rating of "Buy" and a consensus target price of $46.20.
In other news, CFO Mark Sachleben sold 5,000 shares of the firm's stock in a transaction on Tuesday, July 18th. The shares were sold at an average price of $46.68, for a total value of $186,720.00. The company had a trading volume of 109,178 shares. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
On Tuesday, July 18th, Mark Sachleben sold 5,000 shares of New Relic stock. The shares were sold at an average price of $40.21, for a total transaction of $462,415.00. Following the completion of the transaction, the vice president now owns 1,244 shares in the company, valued at $49,760. The disclosure for this sale can be found here. Over the last quarter, insiders sold 234,035 shares of company stock worth $10,104,605. The stock was sold at an average price of $41.05, for a total value of $23,891.10.
New Relic, Inc.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.