New Relic Inc (NEWR) Position Boosted by AQR Capital Management LLC

AQR Capital Management LLC grew its position in shares of New Relic Inc (NYSE:NEWR) by 17.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 43,851 shares of the software maker’s stock after purchasing an additional 6,403 shares during the quarter. AQR Capital Management LLC owned approximately 0.08% of New Relic worth $4,132,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Tower Research Capital LLC TRC grew its holdings in shares of New Relic by 95.1% during the second quarter. Tower Research Capital LLC TRC now owns 1,198 shares of the software maker’s stock worth $121,000 after purchasing an additional 584 shares during the last quarter. DekaBank Deutsche Girozentrale grew its holdings in shares of New Relic by 84.7% during the third quarter. DekaBank Deutsche Girozentrale now owns 1,293 shares of the software maker’s stock worth $133,000 after purchasing an additional 593 shares during the last quarter. First Quadrant L P CA purchased a new position in shares of New Relic during the third quarter worth about $139,000. Ancora Advisors LLC purchased a new position in shares of New Relic during the third quarter worth about $151,000. Finally, Signition LP purchased a new position in shares of New Relic during the third quarter worth about $242,000. 76.57% of the stock is currently owned by institutional investors.

In other news, CRO Erica Schultz sold 382 shares of New Relic stock in a transaction that occurred on Friday, November 23rd. The shares were sold at an average price of $75.16, for a total transaction of $28,711.12. Following the completion of the sale, the executive now directly owns 23,881 shares in the company, valued at approximately $1,794,895.96. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Mark Sachleben sold 7,500 shares of New Relic stock in a transaction that occurred on Thursday, November 8th. The shares were sold at an average price of $96.49, for a total transaction of $723,675.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 384,447 shares of company stock valued at $32,179,721. 20.40% of the stock is owned by insiders.

Shares of NYSE:NEWR opened at $87.37 on Friday. The company has a debt-to-equity ratio of 1.25, a current ratio of 3.81 and a quick ratio of 3.81. The stock has a market capitalization of $4.61 billion, a P/E ratio of -118.07 and a beta of 0.84. New Relic Inc has a 52 week low of $56.01 and a 52 week high of $114.78.

New Relic (NYSE:NEWR) last announced its quarterly earnings data on Tuesday, November 6th. The software maker reported ($0.11) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.08) by ($0.03). The firm had revenue of $114.90 million during the quarter, compared to analyst estimates of $112.26 million. New Relic had a negative net margin of 6.93% and a negative return on equity of 7.97%. New Relic’s revenue for the quarter was up 35.7% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.06) EPS. On average, sell-side analysts anticipate that New Relic Inc will post -0.37 earnings per share for the current fiscal year.

A number of equities analysts recently issued reports on the company. Wedbush reissued an “outperform” rating and set a $116.00 price target on shares of New Relic in a report on Thursday, December 20th. JPMorgan Chase & Co. raised New Relic from a “neutral” rating to an “overweight” rating in a report on Thursday, December 13th. Zacks Investment Research lowered New Relic from a “buy” rating to a “hold” rating in a report on Wednesday, November 14th. ValuEngine lowered New Relic from a “buy” rating to a “hold” rating in a report on Monday, November 12th. Finally, BMO Capital Markets lowered their price target on New Relic from $117.00 to $110.00 and set an “outperform” rating on the stock in a report on Wednesday, November 7th. Six analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $103.47.

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New Relic Profile

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.

Further Reading: Stock Symbol

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

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