New Relic Inc (NEWR) Stake Lifted by Trexquant Investment LP

Trexquant Investment LP lifted its position in New Relic Inc (NYSE:NEWR) by 413.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 48,001 shares of the software maker’s stock after purchasing an additional 38,650 shares during the period. Trexquant Investment LP owned about 0.08% of New Relic worth $4,523,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of NEWR. Tower Research Capital LLC TRC boosted its holdings in New Relic by 95.1% in the second quarter. Tower Research Capital LLC TRC now owns 1,198 shares of the software maker’s stock valued at $121,000 after acquiring an additional 584 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in New Relic by 84.7% in the third quarter. DekaBank Deutsche Girozentrale now owns 1,293 shares of the software maker’s stock valued at $133,000 after acquiring an additional 593 shares in the last quarter. First Quadrant L P CA bought a new stake in New Relic in the third quarter valued at $139,000. CIBC Asset Management Inc bought a new stake in New Relic in the second quarter valued at $200,000. Finally, Congress Park Capital LLC bought a new stake in New Relic in the second quarter valued at $231,000. Hedge funds and other institutional investors own 76.17% of the company’s stock.

In other news, CRO Erica Schultz sold 2,661 shares of the business’s stock in a transaction on Tuesday, November 20th. The shares were sold at an average price of $70.30, for a total transaction of $187,068.30. Following the sale, the executive now owns 24,263 shares in the company, valued at approximately $1,705,688.90. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Mark Sachleben sold 7,500 shares of the business’s stock in a transaction on Thursday, September 6th. The shares were sold at an average price of $98.20, for a total transaction of $736,500.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 444,484 shares of company stock worth $41,684,405. Company insiders own 20.40% of the company’s stock.

Several analysts recently weighed in on the stock. Zacks Investment Research cut shares of New Relic from a “buy” rating to a “hold” rating in a report on Wednesday, November 14th. ValuEngine cut shares of New Relic from a “buy” rating to a “hold” rating in a report on Monday, November 12th. BMO Capital Markets cut their price target on shares of New Relic from $117.00 to $110.00 and set an “outperform” rating on the stock in a report on Wednesday, November 7th. First Analysis upgraded shares of New Relic from an “outperform” rating to a “strong-buy” rating and lifted their price target for the company from $114.00 to $116.00 in a report on Wednesday, November 7th. Finally, DA Davidson upgraded shares of New Relic from a “neutral” rating to a “buy” rating and set a $105.00 price target on the stock in a report on Tuesday, October 23rd. They noted that the move was a valuation call. Seven research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $103.47.

Shares of NEWR stock opened at $76.90 on Friday. New Relic Inc has a 12 month low of $55.91 and a 12 month high of $114.78. The firm has a market cap of $4.34 billion, a PE ratio of -103.92 and a beta of 0.82. The company has a current ratio of 3.81, a quick ratio of 3.81 and a debt-to-equity ratio of 1.25.

New Relic (NYSE:NEWR) last announced its earnings results on Tuesday, November 6th. The software maker reported ($0.11) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.08) by ($0.03). New Relic had a negative net margin of 6.93% and a negative return on equity of 7.97%. The business had revenue of $114.90 million for the quarter, compared to the consensus estimate of $112.26 million. During the same quarter last year, the firm posted ($0.06) EPS. The business’s quarterly revenue was up 35.7% on a year-over-year basis. As a group, analysts expect that New Relic Inc will post -0.37 earnings per share for the current year.

ILLEGAL ACTIVITY WARNING: “New Relic Inc (NEWR) Stake Lifted by Trexquant Investment LP” was originally reported by WKRB News and is the property of of WKRB News. If you are reading this piece on another domain, it was illegally stolen and republished in violation of US and international copyright legislation. The original version of this piece can be accessed at https://www.wkrb13.com/2018/11/24/new-relic-inc-newr-stake-lifted-by-trexquant-investment-lp.html.

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.

Featured Article: What does relative strength index mean?

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

Receive News & Ratings for New Relic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for New Relic and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply