New Relic, Inc. (NEWR) Stake Decreased by Independent Portfolio Consultants Inc

New Relic

New Relic

Shares of New Relic (NYSE NEWR) traded down 1.07% during mid-day trading on Friday, hitting $46.02. Fortaleza Asset Management Inc. now owns 4,910 shares of the software maker's stock worth $182,000 after buying an additional 2,085 shares during the last quarter. Frontier Capital Management Co. Envestnet Asset Management Inc. increased its position in shares of New Relic by 203.4% in the first quarter. CEO Lewis Cirne let go of 33,000 shares at an average price of $44.53 on Monday the 10th.

New Relic is a leading digital intelligence company, delivering full-stack visibility and analytics to more than 40% of the Fortune 100. Credit Agricole S A increased its position in New Relic by 83.8% in the first quarter. The shares were sold on July 18th for an average price of $48.14.

Amid volatile financial markets and the presidential election, various investment brokerages have made amendments to their price targets and ratings on shares of New Relic, Inc. Jennison Associates LLC augmented its position by buying 17,059 shares an increase of 23.2% from 03/31/2017 to 06/30/2017. Renaissance Technologies LLC bought a new stake in New Relic during the fourth quarter worth about $2,270,000. The shares were sold at an average price of $43.09, for a total value of $215,450.00. BNP Paribas Arbitrage SA now owns 3,813 shares of the software maker's stock worth $164,000 after buying an additional 3,185 shares during the last quarter. As of quarter end Glynn Capital Management LLC had disposed of a total of 13,958 shares trimming its holdings by 5.2%.

A number of other research analysts have also recently commented on NEWR.

In other news, CFO Mark Sachleben sold 5,000 shares of New Relic stock in a transaction that occurred on Tuesday, July 18th. Zacks Investment Research downgraded shares of New Relic from a "buy" rating to a "hold" rating in a report on Tuesday, May 16th. Finally, Stephens initiated coverage on shares of New Relic in a research note on Thursday, May 25th. UBS AG increased their price target on New Relic from $42.00 to $47.00 and gave the company a "neutral" rating in a research note on Friday. Oppenheimer Holdings, Inc. reiterated an "outperform" rating and issued a $46.00 target price (up previously from $40.00) on shares of New Relic in a research note on Friday, May 12th. Morgan Stanley cut New Relic from an "overweight" rating to an "equal weight" rating and increased their price target for the company from $45.00 to $48.00 in a research note on Thursday, July 20th. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 23.10% of the company's stock. The stock has a 50 day moving average price of $45.07 and a 200-day moving average price of $40.13. The software maker reported ($0.09) EPS for the quarter, topping analysts' consensus estimates of ($0.12) by $0.03, Briefing.com reports. The business had revenue of $80.10 million during the quarter, compared to the consensus estimate of $78.09 million. New Relic had a negative net margin of 20.68% and a negative return on equity of 29.36%. Following the completion of the sale, the insider now directly owns 383,544 shares of the company's stock, valued at approximately $16,776,214.56. During the same quarter a year ago, the company earned ($0.20) EPS. During the same quarter previous year, the business posted ($0.20) earnings per share. On average, equities research analysts expect that New Relic, Inc. will post ($0.27) EPS for the current fiscal year. "(NEWR) Insider Sells $300,733.60 in Stock" was first posted by BBNS and is the sole property of of BBNS.

Media headlines about New Relic (NYSE:NEWR) have trended somewhat positive on Saturday, Accern Sentiment Analysis reports. They set an "overweight" rating and a $55.00 target price for the company. If you are accessing this article on another site, it was illegally stolen and republished in violation of United States and global copyright & trademark law. The company has a consensus rating of "Buy" and an average target price of $47.10. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The Company's cloud-based platform and range of products enable organizations to collect, store and analyze software data in real time. The New Relic Digital Intelligence Platform provides actionable insights to drive digital business results.

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