Grandview Asset Management LLC acquired a new stake in shares of New Relic Inc (NYSE:NEWR) in the 4th quarter, HoldingsChannel reports. The firm acquired 20,278 shares of the software maker’s stock, valued at approximately $1,642,000. New Relic comprises about 1.7% of Grandview Asset Management LLC’s portfolio, making the stock its 18th biggest holding.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Winslow Evans & Crocker Inc. purchased a new stake in New Relic during the 4th quarter valued at approximately $40,000. IFP Advisors Inc raised its stake in New Relic by 1,120.3% during the 4th quarter. IFP Advisors Inc now owns 720 shares of the software maker’s stock valued at $58,000 after acquiring an additional 661 shares during the last quarter. DekaBank Deutsche Girozentrale raised its stake in New Relic by 84.7% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 1,293 shares of the software maker’s stock valued at $133,000 after acquiring an additional 593 shares during the last quarter. First Quadrant L P CA purchased a new stake in New Relic during the 3rd quarter valued at approximately $139,000. Finally, Ancora Advisors LLC purchased a new stake in New Relic during the 3rd quarter valued at approximately $151,000. 78.46% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have recently issued reports on the company. JMP Securities reissued a “hold” rating on shares of New Relic in a research note on Monday. Oppenheimer increased their target price on New Relic from $110.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday. Deutsche Bank increased their target price on New Relic to $120.00 and gave the stock a “buy” rating in a research note on Thursday. DA Davidson reissued a “buy” rating on shares of New Relic in a research note on Thursday. Finally, Wedbush reissued an “outperform” rating and set a $124.00 target price (up from $116.00) on shares of New Relic in a research note on Thursday. Four equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $110.14.
NEWR opened at $103.21 on Monday. The company has a market capitalization of $5.92 billion, a P/E ratio of -139.47 and a beta of 1.05. The company has a debt-to-equity ratio of 1.23, a quick ratio of 3.53 and a current ratio of 3.53. New Relic Inc has a 1-year low of $62.40 and a 1-year high of $114.78.
New Relic (NYSE:NEWR) last released its quarterly earnings results on Wednesday, February 6th. The software maker reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.03. The business had revenue of $124.00 million for the quarter, compared to analysts’ expectations of $120.18 million. New Relic had a negative return on equity of 6.08% and a negative net margin of 6.96%. The company’s revenue was up 35.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.05 EPS. As a group, equities research analysts forecast that New Relic Inc will post -0.36 earnings per share for the current fiscal year.
In related news, CFO Mark Sachleben sold 11,271 shares of the company’s stock in a transaction that occurred on Monday, November 19th. The stock was sold at an average price of $83.80, for a total value of $944,509.80. Following the sale, the chief financial officer now owns 589 shares in the company, valued at approximately $49,358.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Lewis Cirne sold 89,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 4th. The stock was sold at an average price of $84.76, for a total value of $7,543,640.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 271,647 shares of company stock worth $22,310,926. Insiders own 20.40% of the company’s stock.
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About New Relic
New Relic, Inc, a software-as-a-service company, provides various digital products worldwide. Its cloud-based platform and suite of products include New Relic Platform, which enable organizations to collect, store, and analyze data. The company offers New Relic Application Performance Management that provides visibility into the performance and usage of server-based applications, such as data pertaining to response time, transaction throughput, error rates, top transactions, and user satisfaction; New Relic Mobile, which provides code-level visibility into the performance and health of mobile applications running on the iOS and Android mobile operating systems; and New Relic Browser that monitors the page view experiences of actual end-users for desktop and mobile browser-based applications.
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