New Relic, Inc. (NEWR) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP lowered its position in New Relic, Inc. (NYSE:NEWR) by 56.1% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 16,925 shares of the software maker’s stock after selling 21,608 shares during the period. Wellington Management Group LLP’s holdings in New Relic were worth $627,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its stake in shares of New Relic by 66.4% in the first quarter. Bank of New York Mellon Corp now owns 1,051,025 shares of the software maker’s stock worth $38,961,000 after buying an additional 419,316 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD boosted its stake in shares of New Relic by 3.8% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 857,875 shares of the software maker’s stock worth $31,801,000 after buying an additional 31,460 shares during the last quarter. Peregrine Capital Management LLC bought a new stake in shares of New Relic during the first quarter worth $18,867,000. Jennison Associates LLC bought a new stake in shares of New Relic during the first quarter worth $16,703,000. Finally, Granite Investment Partners LLC boosted its stake in shares of New Relic by 835.1% in the first quarter. Granite Investment Partners LLC now owns 431,364 shares of the software maker’s stock worth $15,991,000 after buying an additional 385,233 shares during the last quarter. Institutional investors and hedge funds own 71.33% of the company’s stock.

New Relic, Inc. (NYSE NEWR) opened at 44.74 on Friday. The firm’s market capitalization is $2.44 billion. The stock’s 50 day moving average price is $45.74 and its 200 day moving average price is $40.70. New Relic, Inc. has a 12 month low of $27.85 and a 12 month high of $49.19.

New Relic (NYSE:NEWR) last posted its quarterly earnings data on Thursday, August 3rd. The software maker reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.03. New Relic had a negative net margin of 20.68% and a negative return on equity of 29.19%. The firm had revenue of $80.10 million during the quarter, compared to analysts’ expectations of $78.09 million. During the same quarter in the previous year, the company posted ($0.20) EPS. New Relic’s revenue was up 36.7% on a year-over-year basis. Equities research analysts expect that New Relic, Inc. will post ($0.25) earnings per share for the current fiscal year.

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NEWR has been the topic of several analyst reports. First Analysis cut New Relic from an “overweight” rating to an “equal weight” rating and set a $50.00 target price on the stock. in a research report on Friday, August 4th. BidaskClub cut New Relic from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. CIBC raised their target price on New Relic from $40.00 to $46.00 and gave the company an “outperform” rating in a research report on Monday, May 15th. Stephens initiated coverage on New Relic in a research report on Thursday, May 25th. They issued an “overweight” rating and a $55.00 target price on the stock. Finally, Zacks Investment Research cut New Relic from a “buy” rating to a “hold” rating in a research report on Tuesday, May 16th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $47.36.

In other New Relic news, CFO Mark Sachleben sold 1,050 shares of the company’s stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $44.68, for a total transaction of $46,914.00. Following the completion of the sale, the chief financial officer now owns 937 shares in the company, valued at approximately $41,865.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider James R. Gochee sold 4,789 shares of the company’s stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $43.71, for a total transaction of $209,327.19. Following the sale, the insider now owns 363,941 shares of the company’s stock, valued at approximately $15,907,861.11. The disclosure for this sale can be found here. Insiders have sold a total of 219,952 shares of company stock valued at $9,713,339 in the last quarter. Corporate insiders own 23.10% of the company’s stock.

About New Relic

New Relic, Inc (New Relic) is a provider of enterprise software. The Company’s cloud-based platform and range of products enable organizations to collect, store and analyze software data in real time. The Company’s New Relic Software Analytics Cloud consists of an integrated suite of products, a data database and an open platform.

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

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