PEAK6 Investments L.P. lifted its stake in shares of New Relic, Inc. (NYSE:NEWR) by 107.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,403 shares of the software maker’s stock after purchasing an additional 9,019 shares during the period. PEAK6 Investments L.P.’s holdings in New Relic were worth $867,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. TimesSquare Capital Management LLC boosted its holdings in New Relic by 657.4% in the 3rd quarter. TimesSquare Capital Management LLC now owns 568,040 shares of the software maker’s stock valued at $28,288,000 after purchasing an additional 493,040 shares during the period. Westfield Capital Management Co. LP bought a new stake in shares of New Relic during the 3rd quarter worth $23,221,000. Hunt Lane Capital LP bought a new stake in shares of New Relic during the 2nd quarter worth $18,752,000. Paulson & CO. Inc. bought a new stake in shares of New Relic during the 2nd quarter worth $15,195,000. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of New Relic by 1,352.1% during the 2nd quarter. Goldman Sachs Group Inc. now owns 277,901 shares of the software maker’s stock worth $11,953,000 after acquiring an additional 258,763 shares during the last quarter. Institutional investors and hedge funds own 77.16% of the company’s stock.
In other New Relic news, VP Robin Schulman sold 1,349 shares of the business’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $48.78, for a total value of $65,804.22. Following the transaction, the vice president now owns 1,364 shares in the company, valued at $66,535.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Mark Sachleben sold 10,000 shares of the business’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $49.70, for a total transaction of $497,000.00. The disclosure for this sale can be found here. Insiders sold 147,591 shares of company stock worth $7,588,072 in the last 90 days. Corporate insiders own 23.10% of the company’s stock.
New Relic, Inc. (NYSE:NEWR) traded up $0.64 during mid-day trading on Thursday, hitting $56.75. 205,200 shares of the company’s stock were exchanged, compared to its average volume of 463,721. New Relic, Inc. has a 12-month low of $27.85 and a 12-month high of $59.90.
New Relic (NYSE:NEWR) last released its quarterly earnings data on Tuesday, November 7th. The software maker reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.04. New Relic had a negative net margin of 19.43% and a negative return on equity of 29.19%. The firm had revenue of $84.68 million for the quarter, compared to analysts’ expectations of $82.98 million. During the same quarter in the previous year, the company earned ($0.09) earnings per share. The company’s revenue for the quarter was up 33.5% compared to the same quarter last year. equities research analysts expect that New Relic, Inc. will post -0.98 EPS for the current fiscal year.
A number of research firms have recently issued reports on NEWR. JMP Securities lifted their price objective on shares of New Relic from $54.00 to $56.00 and gave the stock a “market outperform” rating in a report on Wednesday, November 8th. KeyCorp began coverage on shares of New Relic in a report on Tuesday, September 19th. They set an “overweight” rating and a $52.00 price objective for the company. BidaskClub downgraded shares of New Relic from a “strong-buy” rating to a “buy” rating in a report on Monday, September 18th. Robert W. Baird set a $55.00 price objective on shares of New Relic and gave the stock a “buy” rating in a report on Monday, September 11th. Finally, Oppenheimer reiterated a “buy” rating and issued a $50.00 target price on shares of New Relic in a research report on Tuesday, September 19th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $53.58.
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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