New Relic Inc (NEWR) Holdings Increased by Goldman Sachs Group Inc.

Goldman Sachs Group Inc. boosted its position in New Relic Inc (NYSE:NEWR) by 2.8% during the 4th quarter, HoldingsChannel reports. The firm owned 411,951 shares of the software maker’s stock after purchasing an additional 11,038 shares during the quarter. Goldman Sachs Group Inc.’s holdings in New Relic were worth $23,799,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Crow Point Partners LLC purchased a new stake in New Relic in the 4th quarter worth approximately $113,000. Woodstock Corp purchased a new stake in New Relic in the 4th quarter worth approximately $212,000. Amalgamated Bank purchased a new stake in New Relic in the 4th quarter worth approximately $240,000. Cipher Capital LP purchased a new stake in New Relic in the 3rd quarter worth approximately $212,000. Finally, ETRADE Capital Management LLC purchased a new stake in New Relic in the 4th quarter worth approximately $270,000. Institutional investors and hedge funds own 75.77% of the company’s stock.

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Shares of New Relic stock opened at $76.64 on Friday. The firm has a market cap of $4,274.53, a price-to-earnings ratio of -77.41 and a beta of 0.67. New Relic Inc has a 52-week low of $35.61 and a 52-week high of $79.08.

New Relic (NYSE:NEWR) last posted its quarterly earnings data on Tuesday, February 6th. The software maker reported $0.05 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.07) by $0.12. The firm had revenue of $91.83 million for the quarter, compared to analysts’ expectations of $89.31 million. New Relic had a negative net margin of 16.17% and a negative return on equity of 25.22%. The business’s quarterly revenue was up 34.8% on a year-over-year basis. During the same quarter last year, the company posted ($0.09) EPS. analysts forecast that New Relic Inc will post -0.77 earnings per share for the current year.

In related news, insider James R. Gochee sold 333 shares of the stock in a transaction on Friday, March 16th. The shares were sold at an average price of $75.90, for a total transaction of $25,274.70. Following the transaction, the insider now owns 329,275 shares of the company’s stock, valued at approximately $24,991,972.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Lewis Cirne sold 89,000 shares of the stock in a transaction on Friday, March 2nd. The shares were sold at an average price of $72.94, for a total transaction of $6,491,660.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 315,422 shares of company stock worth $21,118,823. Corporate insiders own 23.10% of the company’s stock.

Several analysts have issued reports on NEWR shares. JPMorgan Chase & Co. cut shares of New Relic from an “overweight” rating to a “neutral” rating and set a $62.00 target price on the stock. in a research note on Tuesday, December 12th. BMO Capital Markets started coverage on shares of New Relic in a research note on Friday, January 12th. They issued a “market perform” rating and a $68.00 target price on the stock. Wedbush started coverage on shares of New Relic in a research note on Friday, February 23rd. They issued an “outperform” rating and a $86.00 target price on the stock. Stephens increased their target price on shares of New Relic from $60.00 to $70.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 7th. Finally, Oppenheimer raised their price objective on shares of New Relic from $57.00 to $66.00 and gave the company an “outperform” rating in a research report on Wednesday, February 7th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $65.79.

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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.

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

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