Arabesque Asset Management Ltd bought a new position in New Relic Inc (NYSE:NEWR) in the 1st quarter, HoldingsChannel.com reports. The fund bought 34,069 shares of the software maker’s stock, valued at approximately $3,363,000. New Relic makes up 1.7% of Arabesque Asset Management Ltd’s portfolio, making the stock its 15th biggest holding.
Several other institutional investors have also modified their holdings of NEWR. NumerixS Investment Technologies Inc acquired a new stake in shares of New Relic in the fourth quarter worth $32,000. Wealthcare Advisory Partners LLC raised its holdings in shares of New Relic by 33.3% during the fourth quarter. Wealthcare Advisory Partners LLC now owns 400 shares of the software maker’s stock worth $32,000 after acquiring an additional 100 shares in the last quarter. Cornerstone Advisors Inc. raised its holdings in shares of New Relic by 58.4% during the first quarter. Cornerstone Advisors Inc. now owns 358 shares of the software maker’s stock worth $35,000 after acquiring an additional 132 shares in the last quarter. Evolution Wealth Advisors LLC purchased a new stake in shares of New Relic during the first quarter worth $42,000. Finally, IFP Advisors Inc raised its holdings in shares of New Relic by 1,120.3% during the fourth quarter. IFP Advisors Inc now owns 720 shares of the software maker’s stock worth $58,000 after acquiring an additional 661 shares in the last quarter. 79.56% of the stock is owned by institutional investors and hedge funds.
In other New Relic news, insider James R. Gochee sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $105.88, for a total transaction of $423,520.00. Following the transaction, the insider now directly owns 293,234 shares in the company, valued at $31,047,615.92. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Lewis Cirne sold 20,300 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $102.92, for a total value of $2,089,276.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 162,550 shares of company stock worth $16,278,096. Corporate insiders own 20.40% of the company’s stock.
Shares of NYSE:NEWR opened at $100.48 on Thursday. The company has a quick ratio of 2.90, a current ratio of 2.90 and a debt-to-equity ratio of 1.16. New Relic Inc has a 1 year low of $70.30 and a 1 year high of $114.78. The firm has a market cap of $5.73 billion, a P/E ratio of -324.13 and a beta of 1.03.
New Relic (NYSE:NEWR) last posted its earnings results on Tuesday, May 14th. The software maker reported $0.13 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.07. New Relic had a negative return on equity of 6.57% and a negative net margin of 8.53%. The company had revenue of $132.10 million for the quarter, compared to analyst estimates of $128.19 million. During the same period last year, the company earned $0.09 earnings per share. The business’s revenue was up 34.2% compared to the same quarter last year. Analysts anticipate that New Relic Inc will post -0.56 earnings per share for the current year.
Several analysts recently issued reports on the company. Zacks Investment Research lowered New Relic from a “hold” rating to a “sell” rating in a report on Tuesday, May 21st. BMO Capital Markets reiterated an “outperform” rating and set a $118.00 price objective (up from $110.00) on shares of New Relic in a report on Thursday, February 7th. Wedbush reiterated an “outperform” rating and set a $124.00 price objective (up from $116.00) on shares of New Relic in a report on Thursday, February 7th. DA Davidson reiterated a “buy” rating on shares of New Relic in a report on Thursday, February 7th. Finally, JMP Securities reiterated a “hold” rating on shares of New Relic in a report on Monday, February 11th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $117.42.
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New Relic Profile
New Relic, Inc, a software-as-a-service company, provides various digital products worldwide. Its cloud-based platform and suite of products include New Relic Platform, which enable organizations to collect, store, and analyze data. The company offers New Relic Application Performance Management that provides visibility into the performance and usage of server-based applications, such as data pertaining to response time, transaction throughput, error rates, top transactions, and user satisfaction; New Relic Mobile, which provides code-level visibility into the performance and health of mobile applications running on the iOS and Android mobile operating systems; and New Relic Browser that monitors the page view experiences of actual end-users for desktop and mobile browser-based applications.
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