Barclays PLC Sells 2,225,952 Shares of New Relic, Inc. (NYSE:NEWR)

Barclays PLC lessened its position in New Relic, Inc. (NYSE:NEWR) by 99.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,572 shares of the software maker’s stock after selling 2,225,952 shares during the quarter. Barclays PLC’s holdings in New Relic were worth $1,084,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in NEWR. Vanguard Group Inc. lifted its holdings in New Relic by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 4,973,747 shares of the software maker’s stock valued at $332,645,000 after buying an additional 49,388 shares in the last quarter. Clearbridge Investments LLC lifted its holdings in New Relic by 0.7% during the 1st quarter. Clearbridge Investments LLC now owns 1,947,553 shares of the software maker’s stock valued at $146,631,000 after buying an additional 13,380 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in New Relic by 104.9% during the 2nd quarter. Assenagon Asset Management S.A. now owns 956,457 shares of the software maker’s stock valued at $62,591,000 after buying an additional 489,634 shares in the last quarter. Geode Capital Management LLC lifted its holdings in New Relic by 4.0% during the 1st quarter. Geode Capital Management LLC now owns 787,009 shares of the software maker’s stock valued at $59,254,000 after buying an additional 30,188 shares in the last quarter. Finally, Neuberger Berman Group LLC lifted its holdings in New Relic by 2.0% during the 1st quarter. Neuberger Berman Group LLC now owns 772,009 shares of the software maker’s stock valued at $57,972,000 after buying an additional 15,193 shares in the last quarter. Institutional investors own 85.93% of the company’s stock.

New Relic Trading Up 0.0 %

NYSE:NEWR opened at $86.99 on Monday. The company has a market cap of $6.18 billion, a PE ratio of -41.62 and a beta of 0.84. New Relic, Inc. has a twelve month low of $50.30 and a twelve month high of $87.01. The company’s 50 day moving average is $86.10 and its two-hundred day moving average is $79.38.

New Relic (NYSE:NEWR) last announced its quarterly earnings data on Friday, October 27th. The software maker reported $0.51 EPS for the quarter, beating the consensus estimate of $0.39 by $0.12. New Relic had a negative net margin of 14.92% and a negative return on equity of 12.82%. The business had revenue of $242.80 million during the quarter, compared to analysts’ expectations of $250.58 million. During the same period in the previous year, the business posted $0.13 EPS. The business’s quarterly revenue was up 7.0% compared to the same quarter last year. As a group, analysts expect that New Relic, Inc. will post -0.71 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. DA Davidson downgraded shares of New Relic from a “buy” rating to a “neutral” rating and cut their target price for the company from $95.00 to $87.00 in a research report on Thursday, September 14th. Truist Financial raised their target price on shares of New Relic from $77.00 to $87.00 and gave the company a “hold” rating in a research report on Tuesday, August 1st. TD Cowen raised their target price on shares of New Relic from $73.00 to $87.00 and gave the company a “market perform” rating in a research report on Tuesday, August 1st. Credit Suisse Group downgraded shares of New Relic from an “outperform” rating to a “neutral” rating and cut their target price for the company from $113.00 to $87.00 in a research report on Tuesday, August 1st. Finally, BMO Capital Markets cut their target price on shares of New Relic from $88.00 to $87.00 and set a “market perform” rating on the stock in a research report on Tuesday, August 1st. Twelve research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, New Relic presently has an average rating of “Hold” and a consensus price target of $84.77.

About New Relic

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.