New Relic Inc (NYSE:NEWR) Shares Bought by Legal & General Group Plc

Legal & General Group Plc increased its stake in shares of New Relic Inc (NYSE:NEWR) by 29.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,569 shares of the software maker’s stock after purchasing an additional 3,108 shares during the quarter. Legal & General Group Plc’s holdings in New Relic were worth $674,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. grew its stake 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 purchasing an additional 862 shares during the last quarter. ETF Managers Group LLC bought a new stake in shares of New Relic during the second quarter valued at approximately $118,000. BNP Paribas Arbitrage SA grew its stake in shares of New Relic by 507.2% during the second quarter. BNP Paribas Arbitrage SA now owns 3,813 shares of the software maker’s stock valued at $164,000 after purchasing an additional 3,185 shares during the last quarter. Cipher Capital LP bought a new stake in shares of New Relic during the third quarter valued at approximately $212,000. Finally, BT Investment Management Ltd bought a new stake in shares of New Relic during the second quarter valued at approximately $186,000. 76.45% of the stock is currently owned by institutional investors and hedge funds.

New Relic Inc (NYSE NEWR) opened at $59.34 on Friday. New Relic Inc has a twelve month low of $30.01 and a twelve month high of $60.85. The firm has a market cap of $3,270.00, a P/E ratio of -53.46 and a beta of 1.03.

New Relic (NYSE:NEWR) last announced its quarterly earnings data on Tuesday, November 7th. The software maker reported ($0.06) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate 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 business had revenue of $84.68 million for the quarter, compared to analyst estimates of $82.98 million. During the same period in the prior year, the business posted ($0.09) earnings per share. New Relic’s revenue was up 33.5% compared to the same quarter last year. equities research analysts forecast that New Relic Inc will post -0.98 EPS for the current fiscal year.

Several analysts have recently commented on the stock. JMP Securities increased their price target on shares of New Relic from $54.00 to $56.00 and gave the company a “market outperform” rating in a research note on Wednesday, November 8th. KeyCorp assumed coverage on shares of New Relic in a research note on Tuesday, September 19th. They set an “overweight” rating and a $52.00 price target on the stock. BidaskClub cut shares of New Relic from a “strong-buy” rating to a “buy” rating in a research note on Monday, September 18th. Oppenheimer reissued a “buy” rating and set a $50.00 price target on shares of New Relic in a research note on Tuesday, September 19th. Finally, JPMorgan Chase & Co. cut shares of New Relic from an “overweight” rating to a “neutral” rating and set a $62.00 price target on the stock. in a research note on Tuesday, December 12th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $54.23.

In other New Relic news, CFO Mark Sachleben sold 5,000 shares of the stock in a transaction on Monday, October 23rd. The shares were sold at an average price of $52.40, for a total value of $262,000.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Lewis Cirne sold 25,000 shares of the stock in a transaction on Monday, January 8th. The stock was sold at an average price of $58.83, for a total transaction of $1,470,750.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 168,139 shares of company stock worth $9,344,895. Company insiders own 23.10% of the company’s stock.

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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.

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

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