Cubist Systematic Strategies LLC grew its holdings in New Relic, Inc. (NYSE:NEWR) by 370.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 28,615 shares of the software maker’s stock after purchasing an additional 22,532 shares during the quarter. Cubist Systematic Strategies LLC owned about 0.05% of New Relic worth $1,231,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. ETF Managers Group LLC acquired a new position in New Relic in the second quarter worth $118,000. Botty Investors LLC boosted its stake in New Relic by 23.5% in the second quarter. Botty Investors LLC now owns 2,809 shares of the software maker’s stock worth $121,000 after purchasing an additional 535 shares in the last quarter. BNP Paribas Arbitrage SA boosted its stake in New Relic by 507.2% in the second quarter. BNP Paribas Arbitrage SA now owns 3,813 shares of the software maker’s stock worth $164,000 after purchasing an additional 3,185 shares in the last quarter. BT Investment Management Ltd acquired a new position in New Relic in the second quarter worth $186,000. Finally, Turner Investments LLC acquired a new position in New Relic in the second quarter worth $194,000. 74.82% of the stock is currently owned by institutional investors.
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NEWR has been the topic of a number of recent analyst reports. BidaskClub raised New Relic from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 24th. Oppenheimer Holdings, Inc. reissued a “buy” rating and issued a $50.00 price objective on shares of New Relic in a research note on Tuesday, September 19th. Zacks Investment Research lowered New Relic from a “buy” rating to a “hold” rating in a research note on Thursday, October 5th. First Analysis lowered New Relic from an “overweight” rating to an “equal weight” rating and set a $50.00 price objective on the stock. in a research note on Friday, August 4th. Finally, Robert W. Baird set a $55.00 price objective on New Relic and gave the stock a “buy” rating in a research note on Monday, September 11th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $50.17.
New Relic, Inc. (NEWR) opened at 50.90 on Friday. The firm’s market cap is $2.77 billion. New Relic, Inc. has a 52 week low of $27.85 and a 52 week high of $51.97. The stock’s 50 day moving average price is $49.04 and its 200 day moving average price is $44.56.
New Relic (NYSE:NEWR) last released its quarterly earnings data on Thursday, August 3rd. The software maker reported ($0.09) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.12) by $0.03. New Relic had a negative return on equity of 29.19% and a negative net margin of 20.68%. The company had revenue of $80.10 million for the quarter, compared to the consensus estimate of $78.09 million. During the same quarter last year, the business posted ($0.20) EPS. New Relic’s revenue for the quarter was up 36.7% on a year-over-year basis. On average, equities research analysts predict that New Relic, Inc. will post ($0.25) EPS for the current year.
In other New Relic news, CEO Lewis Cirne sold 33,000 shares of New Relic stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $46.12, for a total transaction of $1,521,960.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Robin Schulman sold 667 shares of New Relic stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $47.03, for a total value of $31,369.01. Following the transaction, the vice president now directly owns 1,244 shares in the company, valued at $58,505.32. The disclosure for this sale can be found here. In the last three months, insiders have sold 182,002 shares of company stock worth $8,764,212. 23.10% of the stock is currently owned by company insiders.
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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