5,313 Shares in New Relic, Inc. (NYSE:NEWR) Acquired by Quadrature Capital Ltd

Quadrature Capital Ltd acquired a new stake in New Relic, Inc. (NYSE:NEWR – Get Rating) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 5,313 shares of the software maker’s stock, valued at approximately $305,000.

Several other large investors have also recently added to or reduced their stakes in the company. Ensign Peak Advisors Inc lifted its position in shares of New Relic by 1.6% during the 2nd quarter. Ensign Peak Advisors Inc now owns 13,680 shares of the software maker’s stock valued at $685,000 after acquiring an additional 210 shares during the period. Xponance Inc. grew its stake in New Relic by 3.6% during the third quarter. Xponance Inc. now owns 6,222 shares of the software maker’s stock worth $357,000 after buying an additional 218 shares in the last quarter. Arizona State Retirement System raised its position in shares of New Relic by 1.4% in the 3rd quarter. Arizona State Retirement System now owns 16,367 shares of the software maker’s stock valued at $939,000 after buying an additional 227 shares in the last quarter. SWS Partners lifted its holdings in shares of New Relic by 0.7% during the 3rd quarter. SWS Partners now owns 38,300 shares of the software maker’s stock worth $2,198,000 after acquiring an additional 278 shares during the period. Finally, Raymond James Trust N.A. boosted its position in shares of New Relic by 7.5% during the 3rd quarter. Raymond James Trust N.A. now owns 4,326 shares of the software maker’s stock worth $248,000 after acquiring an additional 300 shares in the last quarter. Institutional investors own 83.56% of the company’s stock.

Analyst Ratings Changes

NEWR has been the subject of several recent analyst reports. Wedbush upped their target price on New Relic from $68.00 to $75.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 8th. Cowen raised their price objective on New Relic from $63.00 to $73.00 and gave the company a “market perform” rating in a research note on Wednesday, February 8th. StockNews.com raised shares of New Relic from a “hold” rating to a “buy” rating in a report on Thursday, January 26th. Morgan Stanley lifted their price target on shares of New Relic from $67.00 to $80.00 and gave the company an “equal weight” rating in a report on Wednesday, February 8th. Finally, Royal Bank of Canada increased their price objective on shares of New Relic from $55.00 to $75.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 8th. Eight research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $77.54.

Insider Buying and Selling

In other New Relic news, Chairman Lewis Cirne sold 25,000 shares of the company’s stock in a transaction on Friday, January 6th. The shares were sold at an average price of $54.55, for a total transaction of $1,363,750.00. Following the sale, the chairman now owns 50,477 shares of the company’s stock, valued at $2,753,520.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, COO Kristy Friedrichs sold 873 shares of the stock in a transaction on Wednesday, February 8th. The shares were sold at an average price of $78.05, for a total transaction of $68,137.65. Following the transaction, the chief operating officer now directly owns 11,114 shares of the company’s stock, valued at $867,447.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Lewis Cirne sold 25,000 shares of the stock in a transaction on Friday, January 6th. The stock was sold at an average price of $54.55, for a total transaction of $1,363,750.00. Following the transaction, the chairman now directly owns 50,477 shares in the company, valued at $2,753,520.35. The disclosure for this sale can be found here. Insiders sold 40,873 shares of company stock valued at $2,382,588 over the last quarter. Insiders own 21.00% of the company’s stock.

New Relic Stock Down 2.1 %

Shares of NEWR opened at $71.07 on Monday. The stock’s 50-day moving average price is $66.25 and its two-hundred day moving average price is $60.49. New Relic, Inc. has a 12 month low of $41.66 and a 12 month high of $80.88.

New Relic (NYSE:NEWR – Get Rating) last announced its earnings results on Tuesday, February 7th. The software maker reported ($0.28) EPS for the quarter, beating the consensus estimate of ($0.48) by $0.20. New Relic had a negative return on equity of 48.42% and a negative net margin of 20.08%. The business had revenue of $239.76 million for the quarter, compared to analysts’ expectations of $232.63 million. As a group, research analysts anticipate that New Relic, Inc. will post -1.83 earnings per share for the current fiscal year.

New Relic Profile

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New Relic, Inc engages in the provision of software solutions. It delivers an open and extensible cloud-based platform that enables organizations to collect, store and analyze massive amounts of data in real time to better operate applications and infrastructure. It offers solutions to e-commerce and retail, media, and public sector industries.