New Relic Inc (NEWR) Position Lifted by Picton Mahoney Asset Management

Picton Mahoney Asset Management increased its holdings in shares of New Relic Inc (NYSE:NEWR) by 5.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,200 shares of the software maker’s stock after acquiring an additional 600 shares during the period. Picton Mahoney Asset Management’s holdings in New Relic were worth $907,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in NEWR. Winslow Evans & Crocker Inc. acquired a new position in New Relic during the fourth quarter worth $40,000. IFP Advisors Inc grew its holdings in New Relic by 1,120.3% in the fourth quarter. IFP Advisors Inc now owns 720 shares of the software maker’s stock valued at $58,000 after purchasing an additional 661 shares during the last quarter. DekaBank Deutsche Girozentrale grew its holdings in New Relic by 84.7% in the third quarter. DekaBank Deutsche Girozentrale now owns 1,293 shares of the software maker’s stock valued at $133,000 after purchasing an additional 593 shares during the last quarter. First Quadrant L P CA acquired a new stake in New Relic in the third quarter valued at $139,000. Finally, Ancora Advisors LLC acquired a new stake in New Relic in the third quarter valued at $151,000. 78.46% of the stock is currently owned by hedge funds and other institutional investors.

In related news, CEO Lewis Cirne sold 89,000 shares of the stock in a transaction dated Tuesday, December 4th. The stock was sold at an average price of $84.76, for a total transaction of $7,543,640.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Mark Sachleben sold 2,000 shares of the stock in a transaction dated Tuesday, January 22nd. The stock was sold at an average price of $94.53, for a total value of $189,060.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 283,647 shares of company stock worth $23,641,806. Corporate insiders own 20.40% of the company’s stock.

Several analysts have weighed in on the company. BMO Capital Markets reissued an “outperform” rating and issued a $118.00 target price (up previously from $110.00) on shares of New Relic in a report on Thursday, February 7th. Zacks Investment Research lowered New Relic from a “buy” rating to a “hold” rating in a report on Wednesday, November 14th. Wedbush reissued an “outperform” rating and issued a $124.00 target price (up previously from $116.00) on shares of New Relic in a report on Thursday, February 7th. ValuEngine raised New Relic from a “hold” rating to a “buy” rating in a report on Thursday, January 17th. Finally, DA Davidson reissued a “buy” rating on shares of New Relic in a report on Thursday, February 7th. Three equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $111.93.

NEWR opened at $105.51 on Wednesday. The company has a current ratio of 3.53, a quick ratio of 3.53 and a debt-to-equity ratio of 1.23. The firm has a market cap of $6.05 billion, a P/E ratio of -142.58 and a beta of 1.05. New Relic Inc has a 52 week low of $63.81 and a 52 week high of $114.78.

New Relic (NYSE:NEWR) last posted its quarterly earnings data on Wednesday, February 6th. The software maker reported ($0.07) EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.03. The business had revenue of $124.00 million for the quarter, compared to analyst estimates of $120.18 million. New Relic had a negative return on equity of 6.08% and a negative net margin of 6.96%. The business’s revenue for the quarter was up 35.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.05 earnings per share. Equities analysts predict that New Relic Inc will post -0.36 earnings per share for the current fiscal year.

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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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