United Services Automobile Association raised its position in shares of New Relic Inc (NYSE:NEWR) by 2.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 33,191 shares of the software maker’s stock after buying an additional 695 shares during the quarter. United Services Automobile Association owned about 0.06% of New Relic worth $2,687,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in New Relic by 11.5% in the 3rd quarter. Vanguard Group Inc. now owns 4,552,159 shares of the software maker’s stock worth $428,950,000 after buying an additional 468,506 shares during the period. Vanguard Group Inc grew its stake in shares of New Relic by 11.5% during the 3rd quarter. Vanguard Group Inc now owns 4,552,159 shares of the software maker’s stock worth $428,950,000 after purchasing an additional 468,506 shares during the period. BlackRock Inc. grew its stake in shares of New Relic by 3.1% during the 4th quarter. BlackRock Inc. now owns 3,792,230 shares of the software maker’s stock worth $307,056,000 after purchasing an additional 115,500 shares during the period. Clearbridge Investments LLC grew its stake in shares of New Relic by 7.7% during the 3rd quarter. Clearbridge Investments LLC now owns 1,426,105 shares of the software maker’s stock worth $134,382,000 after purchasing an additional 101,991 shares during the period. Finally, Renaissance Technologies LLC grew its stake in shares of New Relic by 19.7% during the 3rd quarter. Renaissance Technologies LLC now owns 1,306,100 shares of the software maker’s stock worth $123,074,000 after purchasing an additional 215,100 shares during the period. 80.45% of the stock is owned by institutional investors and hedge funds.

NEWR has been the topic of a number of analyst reports. JPMorgan Chase & Co. raised shares of New Relic from a “neutral” rating to an “overweight” rating in a research note on Thursday, December 13th. Wedbush reaffirmed an “outperform” rating and set a $116.00 price objective on shares of New Relic in a research note on Thursday, December 20th. Morgan Stanley raised shares of New Relic from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, January 15th. ValuEngine raised shares of New Relic from a “hold” rating to a “buy” rating in a research note on Thursday, January 17th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $118.00 price objective (up previously from $110.00) on shares of New Relic in a research note on Thursday, February 7th. Three investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $114.69.

NYSE NEWR opened at $100.25 on Monday. New Relic Inc has a 52 week low of $68.89 and a 52 week high of $114.78. The company has a debt-to-equity ratio of 1.23, a quick ratio of 3.53 and a current ratio of 3.53. The firm has a market cap of $5.75 billion, a PE ratio of -135.47 and a beta of 1.04.

New Relic (NYSE:NEWR) last posted its quarterly earnings results on Wednesday, February 6th. The software maker reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.03. New Relic had a negative return on equity of 6.08% and a negative net margin of 6.96%. The business had revenue of $124.00 million for the quarter, compared to analyst estimates of $120.18 million. During the same quarter in the previous year, the firm earned $0.05 EPS. The company’s quarterly revenue was up 35.1% compared to the same quarter last year. Sell-side analysts expect that New Relic Inc will post -0.32 earnings per share for the current fiscal year.

In related news, CEO Lewis Cirne sold 89,000 shares of the business’s stock in a transaction dated Thursday, January 3rd. The shares were sold at an average price of $76.40, for a total value of $6,799,600.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Mark Sachleben sold 15,000 shares of New Relic stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $103.88, for a total value of $1,558,200.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 203,341 shares of company stock worth $18,354,294. Insiders own 20.40% of the company’s stock.

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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.

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

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