Great West Life Assurance Co. Can held its stake in New Relic, Inc. (NYSE:NEWR) during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 2,426 shares of the software maker’s stock at the close of the second quarter. Great West Life Assurance Co. Can’s holdings in New Relic were worth $104,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Citadel Advisors LLC raised its position in New Relic by 98.3% during the first quarter. Citadel Advisors LLC now owns 25,024 shares of the software maker’s stock worth $928,000 after acquiring an additional 12,405 shares during the last quarter. Clearbridge Investments LLC raised its position in New Relic by 377.8% during the first quarter. Clearbridge Investments LLC now owns 1,368,733 shares of the software maker’s stock worth $50,739,000 after acquiring an additional 1,082,245 shares during the last quarter. Vanguard Group Inc. raised its position in New Relic by 3.7% during the first quarter. Vanguard Group Inc. now owns 2,643,448 shares of the software maker’s stock worth $97,993,000 after acquiring an additional 94,562 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in New Relic during the first quarter worth about $6,228,000. Finally, Bank of New York Mellon Corp raised its position in New Relic by 66.4% during the first quarter. Bank of New York Mellon Corp now owns 1,051,025 shares of the software maker’s stock worth $38,961,000 after acquiring an additional 419,316 shares during the last quarter. Institutional investors own 74.80% of the company’s stock.

New Relic, Inc. (NYSE:NEWR) opened at 48.67 on Wednesday. The stock has a 50 day moving average of $47.31 and a 200-day moving average of $43.08. New Relic, Inc. has a 52-week low of $27.85 and a 52-week high of $51.31. The firm’s market cap is $2.65 billion.

New Relic (NYSE:NEWR) last posted its quarterly earnings data on Thursday, August 3rd. The software maker reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.03. New Relic had a negative net margin of 20.68% and a negative return on equity of 29.19%. The company had revenue of $80.10 million during the quarter, compared to analyst estimates of $78.09 million. During the same period in the prior year, the firm earned ($0.20) earnings per share. The business’s quarterly revenue was up 36.7% on a year-over-year basis. On average, analysts expect that New Relic, Inc. will post ($0.25) EPS for the current year.

In other news, CFO Mark Sachleben sold 10,000 shares of the stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $49.70, for a total value of $497,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Lewis Cirne sold 33,000 shares of the stock in a transaction that occurred on Monday, July 10th. The stock was sold at an average price of $44.53, for a total transaction of $1,469,490.00. The disclosure for this sale can be found here. Insiders have sold 193,127 shares of company stock valued at $8,972,618 over the last ninety days. Insiders own 23.10% of the company’s stock.

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A number of equities analysts have issued reports on NEWR shares. BidaskClub cut shares of New Relic from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. UBS AG lifted their target price on shares of New Relic from $42.00 to $47.00 and gave the stock a “neutral” rating in a research report on Friday, August 4th. First Analysis cut shares of New Relic from an “overweight” rating to an “equal weight” rating and set a $50.00 target price for the company. in a research report on Friday, August 4th. Morgan Stanley cut shares of New Relic from an “overweight” rating to an “equal weight” rating and lifted their target price for the stock from $45.00 to $48.00 in a research report on Thursday, July 20th. They noted that the move was a valuation call. Finally, Stephens started coverage on shares of New Relic in a research report on Thursday, May 25th. They set an “overweight” rating and a $55.00 target price for the company. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $49.17.

New Relic Company Profile

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.

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

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