New Relic Inc (NYSE:NEWR) Shares Bought by Point72 Asset Management L.P.

Point72 Asset Management L.P. grew its stake in New Relic Inc (NYSE:NEWR) by 1,689.5% during the 3rd quarter, Holdings Channel reports. The fund owned 81,011 shares of the software maker’s stock after acquiring an additional 76,484 shares during the period. Point72 Asset Management L.P.’s holdings in New Relic were worth $4,978,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of NEWR. Price T Rowe Associates Inc. MD grew its stake in New Relic by 7,220.5% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 4,834,359 shares of the software maker’s stock worth $418,220,000 after acquiring an additional 4,768,320 shares during the period. First Trust Advisors LP lifted its stake in shares of New Relic by 22.3% during the 3rd quarter. First Trust Advisors LP now owns 1,854,215 shares of the software maker’s stock worth $113,942,000 after purchasing an additional 337,891 shares during the period. Baillie Gifford & Co. lifted its stake in shares of New Relic by 23.7% during the 2nd quarter. Baillie Gifford & Co. now owns 1,259,823 shares of the software maker’s stock worth $108,987,000 after purchasing an additional 241,662 shares during the period. Jennison Associates LLC boosted its holdings in shares of New Relic by 58.7% during the second quarter. Jennison Associates LLC now owns 723,864 shares of the software maker’s stock worth $62,621,000 after purchasing an additional 267,840 shares during the last quarter. Finally, TimesSquare Capital Management LLC boosted its holdings in shares of New Relic by 93.5% during the third quarter. TimesSquare Capital Management LLC now owns 608,460 shares of the software maker’s stock worth $37,390,000 after purchasing an additional 294,025 shares during the last quarter. Institutional investors and hedge funds own 81.42% of the company’s stock.

Shares of NEWR stock opened at $66.67 on Tuesday. The stock has a market cap of $4.00 billion, a price-to-earnings ratio of -215.06 and a beta of 0.98. The company has a quick ratio of 3.01, a current ratio of 3.01 and a debt-to-equity ratio of 1.29. New Relic Inc has a fifty-two week low of $50.00 and a fifty-two week high of $109.00. The firm’s 50 day moving average price is $64.46 and its two-hundred day moving average price is $75.30.

New Relic (NYSE:NEWR) last released its quarterly earnings data on Tuesday, November 5th. The software maker reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.39. New Relic had a negative net margin of 11.26% and a negative return on equity of 8.90%. The company had revenue of $145.80 million during the quarter, compared to analyst estimates of $143.43 million. During the same quarter in the prior year, the business earned $0.20 earnings per share. The business’s quarterly revenue was up 26.9% compared to the same quarter last year. On average, equities analysts forecast that New Relic Inc will post -0.87 EPS for the current fiscal year.

In other New Relic news, CFO Mark Sachleben sold 2,327 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $67.90, for a total transaction of $158,003.30. Also, CTO James R. Gochee sold 4,000 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $60.34, for a total value of $241,360.00. Following the completion of the sale, the chief technology officer now directly owns 124,823 shares of the company’s stock, valued at approximately $7,531,819.82. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 30,827 shares of company stock valued at $1,921,428. 17.40% of the stock is owned by corporate insiders.

A number of analysts have issued reports on the company. Barclays set a $66.00 price target on New Relic and gave the stock a “hold” rating in a research note on Friday, November 1st. TheStreet lowered shares of New Relic from a “c-” rating to a “d+” rating in a report on Tuesday, November 5th. First Analysis cut shares of New Relic from a “strong-buy” rating to a “neutral” rating and set a $80.00 target price on the stock. in a research report on Wednesday, August 7th. Robert W. Baird lowered their target price on shares of New Relic from $84.00 to $77.00 and set an “outperform” rating for the company in a report on Tuesday, September 17th. Finally, ValuEngine lowered shares of New Relic from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $83.59.

About New Relic

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

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