Ashford Capital Management Inc. increased its position in shares of New Relic, Inc. (NYSE:NEWR) by 11.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 176,800 shares of the software maker’s stock after buying an additional 18,200 shares during the period. New Relic accounts for approximately 1.3% of Ashford Capital Management Inc.’s portfolio, making the stock its 27th largest position. Ashford Capital Management Inc. owned 0.33% of New Relic worth $6,554,000 as of its most recent filing with the SEC.
Other institutional investors also recently made changes to their positions in the company. Teachers Advisors LLC increased its position in shares of New Relic by 1.4% in the first quarter. Teachers Advisors LLC now owns 58,125 shares of the software maker’s stock worth $2,155,000 after buying an additional 811 shares in the last quarter. Dynamic Technology Lab Private Ltd increased its position in shares of New Relic by 9.0% in the fourth quarter. Dynamic Technology Lab Private Ltd now owns 10,597 shares of the software maker’s stock worth $299,000 after buying an additional 879 shares in the last quarter. American International Group Inc. increased its position in shares of New Relic by 7.1% in the first quarter. American International Group Inc. now owns 13,522 shares of the software maker’s stock worth $501,000 after buying an additional 894 shares in the last quarter. OLD National Bancorp IN increased its position in shares of New Relic by 8.5% in the first quarter. OLD National Bancorp IN now owns 13,351 shares of the software maker’s stock worth $495,000 after buying an additional 1,044 shares in the last quarter. Finally, Wrapmanager Inc. increased its position in shares of New Relic by 16.4% in the first quarter. Wrapmanager Inc. now owns 9,829 shares of the software maker’s stock worth $364,000 after buying an additional 1,386 shares in the last quarter. Institutional investors and hedge funds own 73.00% of the company’s stock.
New Relic, Inc. (NYSE:NEWR) traded down 0.19% during trading on Thursday, reaching $43.13. 571,045 shares of the company’s stock traded hands. The stock’s market capitalization is $2.31 billion. The company has a 50-day moving average of $42.71 and a 200 day moving average of $36.80. New Relic, Inc. has a 12 month low of $27.20 and a 12 month high of $45.32.
New Relic (NYSE:NEWR) last posted its quarterly earnings data on Tuesday, May 9th. The software maker reported ($0.11) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.15) by $0.04. The firm had revenue of $73.30 million for the quarter, compared to the consensus estimate of $73.04 million. New Relic had a negative return on equity of 30.80% and a negative net margin of 23.18%. The business’s revenue for the quarter was up 39.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.24) EPS. On average, equities research analysts expect that New Relic, Inc. will post ($0.27) earnings per share for the current fiscal year.
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A number of brokerages have recently issued reports on NEWR. Oppenheimer Holdings, Inc. set a $40.00 price target on shares of New Relic and gave the company a “buy” rating in a report on Saturday, March 11th. Robert W. Baird increased their price target on shares of New Relic from $40.00 to $42.00 and gave the company an “outperform” rating in a report on Thursday, April 6th. CIBC increased their price target on shares of New Relic from $40.00 to $46.00 and gave the company an “outperform” rating in a report on Monday, May 15th. Stephens began coverage on shares of New Relic in a report on Thursday, May 25th. They issued an “overweight” rating and a $55.00 price target for the company. Finally, Zacks Investment Research downgraded shares of New Relic from a “buy” rating to a “hold” rating in a report on Tuesday, May 16th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. New Relic currently has an average rating of “Buy” and a consensus price target of $46.56.
In related news, CEO Lewis Cirne sold 33,000 shares of the stock in a transaction that occurred on Friday, May 5th. The stock was sold at an average price of $40.81, for a total value of $1,346,730.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Mark Sachleben sold 3,500 shares of the stock in a transaction that occurred on Monday, March 27th. The stock was sold at an average price of $35.83, for a total value of $125,405.00. The disclosure for this sale can be found here. Insiders sold a total of 185,160 shares of company stock worth $7,717,070 in the last quarter. 46.60% of the stock is owned by corporate insiders.
New Relic Company 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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