UBS Group AG Has $2.20 Million Position in New Relic Inc (NEWR)

UBS Group AG lifted its stake in shares of New Relic Inc (NYSE:NEWR) by 120.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 29,623 shares of the software maker’s stock after buying an additional 16,190 shares during the quarter. UBS Group AG owned 0.05% of New Relic worth $2,195,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in NEWR. California Public Employees Retirement System purchased a new stake in shares of New Relic during the 4th quarter valued at about $822,000. BlackRock Inc. raised its holdings in shares of New Relic by 4.4% during the 4th quarter. BlackRock Inc. now owns 2,215,858 shares of the software maker’s stock valued at $128,010,000 after buying an additional 94,283 shares during the period. UBS Asset Management Americas Inc. raised its holdings in shares of New Relic by 7.7% during the 4th quarter. UBS Asset Management Americas Inc. now owns 21,152 shares of the software maker’s stock valued at $1,222,000 after buying an additional 1,516 shares during the period. Geode Capital Management LLC raised its holdings in shares of New Relic by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 349,177 shares of the software maker’s stock valued at $20,171,000 after buying an additional 9,930 shares during the period. Finally, Amundi Pioneer Asset Management Inc. purchased a new stake in shares of New Relic during the 4th quarter valued at about $4,246,000. Institutional investors and hedge funds own 74.08% of the company’s stock.

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Several equities research analysts recently commented on the company. DA Davidson assumed coverage on New Relic in a report on Wednesday, July 11th. They set a “neutral” rating and a $105.00 target price on the stock. Deutsche Bank started coverage on New Relic in a research note on Monday, June 25th. They set a “buy” rating and a $125.00 price objective for the company. Morgan Stanley raised their price objective on New Relic from $73.00 to $80.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 27th. Argus started coverage on New Relic in a research note on Tuesday. They set a “hold” rating for the company. Finally, Robert W. Baird raised their price objective on New Relic from $88.00 to $115.00 and gave the company an “outperform” rating in a research note on Tuesday, June 5th. Ten investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. New Relic presently has an average rating of “Buy” and an average price target of $91.35.

Shares of New Relic opened at $111.27 on Thursday, according to Marketbeat.com. New Relic Inc has a fifty-two week low of $42.69 and a fifty-two week high of $111.87.

New Relic (NYSE:NEWR) last issued its quarterly earnings data on Tuesday, May 8th. The software maker reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.04. New Relic had a negative return on equity of 20.14% and a negative net margin of 12.76%. The firm had revenue of $98.40 million during the quarter, compared to analyst estimates of $96.34 million. During the same quarter last year, the firm earned ($0.11) EPS. New Relic’s quarterly revenue was up 34.2% on a year-over-year basis. analysts anticipate that New Relic Inc will post -0.57 earnings per share for the current fiscal year.

In other news, insider James R. Gochee sold 331 shares of New Relic stock in a transaction that occurred on Monday, June 18th. The stock was sold at an average price of $109.05, for a total value of $36,095.55. Following the completion of the transaction, the insider now owns 320,252 shares in the company, valued at approximately $34,923,480.60. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider James R. Gochee sold 5,122 shares of New Relic stock in a transaction that occurred on Wednesday, May 16th. The stock was sold at an average price of $87.70, for a total value of $449,199.40. Following the completion of the transaction, the insider now owns 325,471 shares of the company’s stock, valued at approximately $28,543,806.70. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 419,609 shares of company stock valued at $39,401,786. 20.40% of the stock is owned by insiders.

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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