Wrapmanager Inc. Has $278,000 Holdings in New Relic Inc (NEWR)

Wrapmanager Inc. cut its stake in shares of New Relic Inc (NYSE:NEWR) by 34.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 4,805 shares of the software maker’s stock after selling 2,503 shares during the period. Wrapmanager Inc.’s holdings in New Relic were worth $278,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Macquarie Group Ltd. lifted its holdings in shares of New Relic by 0.8% during the second quarter. Macquarie Group Ltd. now owns 41,109 shares of the software maker’s stock valued at $1,768,000 after acquiring an additional 313 shares during the period. Suntrust Banks Inc. lifted its holdings in shares of New Relic by 4.8% during the second quarter. Suntrust Banks Inc. now owns 9,582 shares of the software maker’s stock valued at $411,000 after acquiring an additional 442 shares during the period. Ameritas Investment Partners Inc. lifted its holdings in shares of New Relic by 50.4% during the second quarter. Ameritas Investment Partners Inc. now owns 2,573 shares of the software maker’s stock valued at $111,000 after acquiring an additional 862 shares during the period. Essex Investment Management Co. LLC lifted its holdings in shares of New Relic by 11.4% during the third quarter. Essex Investment Management Co. LLC now owns 10,031 shares of the software maker’s stock valued at $500,000 after acquiring an additional 1,025 shares during the period. Finally, American International Group Inc. lifted its holdings in shares of New Relic by 8.1% during the third quarter. American International Group Inc. now owns 19,656 shares of the software maker’s stock valued at $979,000 after acquiring an additional 1,470 shares during the period. 75.84% of the stock is owned by institutional investors.

New Relic Inc (NYSE:NEWR) opened at $59.31 on Monday. New Relic Inc has a twelve month low of $33.10 and a twelve month high of $62.81.

New Relic (NYSE:NEWR) last released its quarterly earnings results on Tuesday, November 7th. The software maker reported ($0.06) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.10) by $0.04. New Relic had a negative return on equity of 29.19% and a negative net margin of 19.43%. The business had revenue of $84.68 million during the quarter, compared to analysts’ expectations of $82.98 million. During the same period in the previous year, the business posted ($0.09) earnings per share. The firm’s revenue for the quarter was up 33.5% compared to the same quarter last year. equities analysts forecast that New Relic Inc will post -0.98 EPS for the current fiscal year.

A number of research analysts have issued reports on the company. JMP Securities lifted their price objective on New Relic from $54.00 to $56.00 and gave the company a “market outperform” rating in a report on Wednesday, November 8th. JPMorgan Chase & Co. cut New Relic from an “overweight” rating to a “neutral” rating and set a $62.00 price objective for the company. in a report on Tuesday, December 12th. Morgan Stanley lifted their price objective on New Relic from $48.00 to $52.00 and gave the company an “equal weight” rating in a report on Wednesday, November 8th. BidaskClub cut New Relic from a “buy” rating to a “hold” rating in a report on Tuesday, November 7th. Finally, Needham & Company LLC assumed coverage on New Relic in a report on Monday, October 23rd. They set a “buy” rating and a $69.00 price objective for the company. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $55.21.

In related news, CFO Mark Sachleben sold 5,000 shares of New Relic stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $57.86, for a total value of $289,300.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Robin Schulman sold 1,797 shares of New Relic stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $54.44, for a total value of $97,828.68. Following the completion of the transaction, the vice president now directly owns 1,107 shares of the company’s stock, valued at $60,265.08. The disclosure for this sale can be found here. Insiders sold 178,140 shares of company stock valued at $9,995,698 over the last ninety days. 23.10% of the stock is currently owned by company insiders.

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New Relic Profile

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

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