Schwab Charles Investment Management Inc. lifted its holdings in shares of New Relic, Inc. (NYSE:NEWR) by 21.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 131,923 shares of the software maker’s stock after purchasing an additional 23,082 shares during the period. Schwab Charles Investment Management Inc. owned about 0.24% of New Relic worth $5,675,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in NEWR. Diversified Trust Co bought a new stake in New Relic in the 2nd quarter valued at about $219,000. Envestnet Asset Management Inc. grew its holdings in shares of New Relic by 203.4% during the first quarter. Envestnet Asset Management Inc. now owns 5,473 shares of the software maker’s stock worth $204,000 after purchasing an additional 3,669 shares in the last quarter. Soros Fund Management LLC purchased a new position in shares of New Relic during the first quarter worth about $493,000. American International Group Inc. grew its holdings in shares of New Relic by 7.1% during the first quarter. American International Group Inc. now owns 13,522 shares of the software maker’s stock worth $501,000 after purchasing an additional 894 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in shares of New Relic by 340.7% during the first quarter. Goldman Sachs Group Inc. now owns 19,138 shares of the software maker’s stock worth $709,000 after purchasing an additional 27,088 shares in the last quarter. Institutional investors own 74.82% of the company’s stock.

Several brokerages have recently commented on NEWR. Zacks Investment Research lowered New Relic from a “buy” rating to a “hold” rating in a report on Thursday, October 5th. Morgan Stanley lowered New Relic from an “overweight” rating to an “equal weight” rating and increased their price objective for the company from $45.00 to $48.00 in a research note on Thursday, July 20th. They noted that the move was a valuation call. Robert W. Baird set a $55.00 price objective on New Relic and gave the company a “buy” rating in a research note on Monday, September 11th. KeyCorp assumed coverage on New Relic in a report on Tuesday, September 19th. They set an “overweight” rating and a $52.00 target price for the company. Finally, Oppenheimer Holdings, Inc. restated a “buy” rating and set a $50.00 target price on shares of New Relic in a report on Tuesday, September 19th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $50.17.

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New Relic, Inc. (NYSE:NEWR) opened at 50.44 on Friday. The firm has a 50-day moving average price of $49.04 and a 200-day moving average price of $44.56. New Relic, Inc. has a 12-month low of $27.85 and a 12-month high of $51.97. The company’s market cap is $2.75 billion.

New Relic (NYSE:NEWR) last issued its earnings results on Thursday, August 3rd. The software maker reported ($0.09) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.12) by $0.03. New Relic had a negative return on equity of 29.19% and a negative net margin of 20.68%. The business had revenue of $80.10 million during the quarter, compared to analysts’ expectations of $78.09 million. During the same period in the prior year, the business earned ($0.20) EPS. The business’s revenue for the quarter was up 36.7% compared to the same quarter last year. On average, equities research analysts forecast that New Relic, Inc. will post ($0.25) earnings per share for the current fiscal year.

In other New Relic news, CFO Mark Sachleben sold 5,000 shares of the company’s stock in a transaction on Tuesday, July 18th. The stock was sold at an average price of $48.14, for a total value of $240,700.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Robin Schulman sold 667 shares of the company’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $47.03, for a total value of $31,369.01. Following the completion of the sale, the vice president now owns 1,244 shares of the company’s stock, valued at $58,505.32. The disclosure for this sale can be found here. Insiders sold a total of 182,002 shares of company stock valued at $8,764,212 over the last quarter. Company insiders own 23.10% of the company’s stock.

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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