New Relic, Inc. (NYSE:NEWR) Shares Purchased by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of New Relic, Inc. (NYSE:NEWRGet Rating) by 49.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 52,531 shares of the software maker’s stock after acquiring an additional 17,348 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.08% of New Relic worth $2,629,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Tcwp LLC bought a new position in New Relic in the 1st quarter worth about $52,000. PNC Financial Services Group Inc. grew its position in New Relic by 129.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,066 shares of the software maker’s stock worth $72,000 after purchasing an additional 601 shares during the last quarter. Penserra Capital Management LLC grew its position in New Relic by 50.0% in the 1st quarter. Penserra Capital Management LLC now owns 1,254 shares of the software maker’s stock worth $83,000 after purchasing an additional 418 shares during the last quarter. US Bancorp DE grew its position in New Relic by 57.3% in the 2nd quarter. US Bancorp DE now owns 1,546 shares of the software maker’s stock worth $77,000 after purchasing an additional 563 shares during the last quarter. Finally, Acadian Asset Management LLC bought a new position in New Relic in the 1st quarter worth about $113,000. Institutional investors and hedge funds own 87.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on NEWR shares. Canaccord Genuity Group decreased their target price on shares of New Relic from $81.00 to $74.00 and set a “buy” rating for the company in a research report on Wednesday, November 9th. Cowen decreased their price objective on shares of New Relic to $63.00 in a report on Tuesday, November 15th. Morgan Stanley decreased their price objective on shares of New Relic from $70.00 to $67.00 and set an “equal weight” rating for the company in a report on Thursday, October 20th. StockNews.com upgraded shares of New Relic from a “hold” rating to a “buy” rating in a report on Friday, November 11th. Finally, Robert W. Baird reduced their target price on shares of New Relic to $75.00 in a report on Tuesday, November 15th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $69.58.

Insider Activity

In other news, COO Kristy Friedrichs sold 2,764 shares of the firm’s stock in a transaction on Friday, November 18th. The shares were sold at an average price of $55.75, for a total transaction of $154,093.00. Following the transaction, the chief operating officer now owns 11,987 shares in the company, valued at approximately $668,275.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Jana Partners Llc sold 317,488 shares of the firm’s stock in a transaction on Tuesday, November 15th. The shares were sold at an average price of $61.30, for a total value of $19,462,014.40. Following the transaction, the director now directly owns 3,212,444 shares in the company, valued at approximately $196,922,817.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Kristy Friedrichs sold 2,764 shares of the firm’s stock in a transaction on Friday, November 18th. The shares were sold at an average price of $55.75, for a total transaction of $154,093.00. Following the completion of the transaction, the chief operating officer now owns 11,987 shares in the company, valued at $668,275.25. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 625,940 shares of company stock worth $37,414,921. 21.00% of the stock is owned by corporate insiders.

New Relic Trading Down 0.7 %

NEWR stock opened at $51.91 on Wednesday. New Relic, Inc. has a 12-month low of $41.66 and a 12-month high of $114.28. The company has a 50 day moving average of $56.57 and a two-hundred day moving average of $55.68.

About New Relic

(Get Rating)

New Relic, Inc, a software-as-a-service company, delivers a software platform for customers to collect telemetry data and derive insights from that data in a unified front-end application. It offers a suite of products on its open and extensible cloud-based platform, which enables users to collect, store, and analyze telemetry data.

See Also

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

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