ArrowMark Colorado Holdings LLC lifted its position in shares of New Relic Inc (NYSE:NEWR) by 4.3% in the 4th quarter, Holdings Channel reports. The firm owned 849,956 shares of the software maker’s stock after purchasing an additional 35,388 shares during the period. ArrowMark Colorado Holdings LLC’s holdings in New Relic were worth $49,102,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in the company. TimesSquare Capital Management LLC lifted its position in shares of New Relic by 10.1% during the 4th quarter. TimesSquare Capital Management LLC now owns 625,350 shares of the software maker’s stock worth $36,126,000 after purchasing an additional 57,310 shares during the last quarter. Profund Advisors LLC purchased a new stake in shares of New Relic during the 4th quarter worth $2,033,000. Invictus RG purchased a new stake in shares of New Relic during the 4th quarter worth $272,000. ETRADE Capital Management LLC purchased a new stake in shares of New Relic during the 4th quarter worth $270,000. Finally, Amundi Pioneer Asset Management Inc. purchased a new stake in shares of New Relic during the 4th quarter worth $4,246,000. 75.27% of the stock is owned by institutional investors and hedge funds.
In other news, CFO Mark Sachleben sold 10,000 shares of the company’s stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $59.07, for a total value of $590,700.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Lewis Cirne sold 89,000 shares of the company’s stock in a transaction dated Friday, March 2nd. The shares were sold at an average price of $72.94, for a total transaction of $6,491,660.00. The disclosure for this sale can be found here. Insiders sold 318,395 shares of company stock valued at $20,930,616 over the last ninety days. Corporate insiders own 23.10% of the company’s stock.
New Relic (NYSE:NEWR) last announced its quarterly earnings results on Tuesday, February 6th. The software maker reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.12. New Relic had a negative net margin of 16.17% and a negative return on equity of 25.22%. The firm had revenue of $91.83 million during the quarter, compared to analysts’ expectations of $89.31 million. During the same period in the previous year, the company earned ($0.09) earnings per share. New Relic’s quarterly revenue was up 34.8% compared to the same quarter last year. analysts anticipate that New Relic Inc will post -0.81 EPS for the current fiscal year.
Several equities research analysts have recently issued reports on the stock. Zacks Investment Research raised shares of New Relic from a “hold” rating to a “buy” rating and set a $82.00 price objective for the company in a research report on Thursday. Needham & Company LLC lifted their price objective on shares of New Relic from $69.00 to $73.00 and gave the stock a “buy” rating in a research report on Wednesday, February 7th. Robert W. Baird boosted their price target on shares of New Relic from $65.00 to $68.00 and gave the company an “outperform” rating in a research report on Wednesday, February 7th. Oppenheimer boosted their price target on shares of New Relic from $57.00 to $66.00 and gave the company an “outperform” rating in a research report on Wednesday, February 7th. Finally, BMO Capital Markets boosted their price target on shares of New Relic from $68.00 to $71.00 and gave the company a “market perform” rating in a research report on Wednesday, February 7th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company. New Relic presently has a consensus rating of “Buy” and a consensus target price of $63.71.
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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.
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