Caption Management LLC Takes $1.01 Million Position in New Relic Inc (NEWR)

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Caption Management LLC purchased a new stake in New Relic Inc (NYSE:NEWR) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 12,500 shares of the software maker’s stock, valued at approximately $1,012,000.

Several other hedge funds also recently modified their holdings of NEWR. Virtu Financial LLC grew its stake in New Relic by 592.6% during the third quarter. Virtu Financial LLC now owns 22,274 shares of the software maker’s stock worth $2,099,000 after purchasing an additional 19,058 shares during the period. TIAA CREF Investment Management LLC grew its stake in New Relic by 9.8% during the third quarter. TIAA CREF Investment Management LLC now owns 179,814 shares of the software maker’s stock worth $16,944,000 after purchasing an additional 16,080 shares during the period. Clearbridge Investments LLC grew its stake in New Relic by 7.7% during the third 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. Peregrine Capital Management LLC grew its stake in New Relic by 2.7% during the third quarter. Peregrine Capital Management LLC now owns 223,318 shares of the software maker’s stock worth $21,043,000 after purchasing an additional 5,888 shares during the period. Finally, AO Asset Management LP grew its stake in New Relic by 25.3% during the third quarter. AO Asset Management LP now owns 342,200 shares of the software maker’s stock worth $32,246,000 after purchasing an additional 69,000 shares during the period. 77.03% of the stock is owned by institutional investors.

In other news, CEO Lewis Cirne sold 89,000 shares of the firm’s stock in a transaction that occurred on Friday, November 2nd. The stock was sold at an average price of $88.23, for a total value of $7,852,470.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Mark Sachleben sold 7,500 shares of the firm’s stock in a transaction that occurred on Thursday, November 8th. The shares were sold at an average price of $96.49, for a total value of $723,675.00. The disclosure for this sale can be found here. Insiders sold 379,147 shares of company stock worth $31,767,731 in the last 90 days. Corporate insiders own 20.40% of the company’s stock.

New Relic stock traded up $3.03 during mid-day trading on Thursday, reaching $100.74. The stock had a trading volume of 3,834 shares, compared to its average volume of 522,647. The company has a debt-to-equity ratio of 1.25, a quick ratio of 3.81 and a current ratio of 3.81. New Relic Inc has a fifty-two week low of $56.01 and a fifty-two week high of $114.78. The stock has a market capitalization of $5.57 billion, a PE ratio of -135.03 and a beta of 0.84.

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). New Relic had a negative net margin of 6.93% and a negative return on equity of 7.97%. The firm had revenue of $114.90 million during the quarter, compared to analyst estimates of $112.26 million. During the same period last year, the business posted ($0.06) EPS. The company’s revenue was up 35.7% on a year-over-year basis. Research analysts forecast that New Relic Inc will post -0.37 EPS for the current year.

Several equities research analysts recently commented on the company. Zacks Investment Research cut New Relic from a “buy” rating to a “hold” rating in a research note on Wednesday, November 14th. ValuEngine cut New Relic from a “buy” rating to a “hold” rating in a research note on Monday, November 12th. First Analysis raised New Relic from an “outperform” rating to a “strong-buy” rating and raised their price objective for the company from $114.00 to $116.00 in a research note on Wednesday, November 7th. Wedbush reissued an “outperform” rating and issued a $116.00 price objective on shares of New Relic in a research note on Thursday, December 20th. Finally, BMO Capital Markets reduced their price objective on New Relic from $117.00 to $110.00 and set an “outperform” rating for the company in a research note on Wednesday, November 7th. Four research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. New Relic has a consensus rating of “Buy” and a consensus 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.

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

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