Fulton Breakefield Broenniman LLC bought 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 and Exchange Commission. The fund bought 5,643 shares of the software maker’s stock, valued at approximately $371,000.

A number of other hedge funds have also recently made changes to their positions in NEWR. Farmers & Merchants Trust Co of Chambersburg PA acquired a new position in New Relic in the 3rd quarter valued at about $27,000. NEXT Financial Group Inc raised its stake in New Relic by 905.3% in the 3rd quarter. NEXT Financial Group Inc now owns 573 shares of the software maker’s stock valued at $35,000 after purchasing an additional 516 shares during the last quarter. Winslow Evans & Crocker Inc. raised its stake in New Relic by 44.8% in the 3rd quarter. Winslow Evans & Crocker Inc. now owns 666 shares of the software maker’s stock valued at $44,000 after purchasing an additional 206 shares during the last quarter. Quantum Capital Management acquired a new position in New Relic in the 3rd quarter valued at about $47,000. Finally, Point72 Hong Kong Ltd acquired a new position in New Relic in the 2nd quarter valued at about $55,000. 81.53% of the stock is owned by hedge funds and other institutional investors.

A number of research firms have recently commented on NEWR. Zacks Investment Research downgraded shares of New Relic from a “hold” rating to a “sell” rating in a research note on Wednesday, January 8th. Robert W. Baird dropped their price objective on shares of New Relic from $84.00 to $77.00 and set an “outperform” rating for the company in a research note on Tuesday, September 17th. Morgan Stanley dropped their price objective on shares of New Relic from $84.00 to $80.00 and set an “overweight” rating for the company in a research note on Tuesday, September 17th. Cowen set a $80.00 price objective on shares of New Relic and gave the company a “buy” rating in a research note on Monday, September 23rd. Finally, Oppenheimer dropped their price objective on shares of New Relic from $85.00 to $80.00 and set an “outperform” rating for the company in a research note on Friday, October 11th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and fourteen have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $84.76.

In other New Relic news, CEO Lewis Cirne sold 8,500 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $67.75, for a total value of $575,875.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Mark Sachleben sold 2,327 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $67.90, for a total value of $158,003.30. In the last three months, insiders have sold 28,827 shares of company stock valued at $1,941,613. Corporate insiders own 17.40% of the company’s stock.

NEWR opened at $70.67 on Wednesday. The firm has a 50 day moving average price of $67.69 and a 200 day moving average price of $69.00. The company has a market cap of $3.96 billion, a PE ratio of -227.97 and a beta of 0.96. New Relic Inc has a 1 year low of $50.00 and a 1 year high of $109.00. The company has a debt-to-equity ratio of 1.29, a quick ratio of 3.01 and a current ratio of 3.01.

New Relic (NYSE:NEWR) last posted its earnings results on Tuesday, November 5th. The software maker reported ($0.16) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.15) by ($0.01). The business had revenue of $145.80 million for the quarter, compared to analyst estimates of $143.43 million. New Relic had a negative return on equity of 8.90% and a negative net margin of 11.26%. The firm’s revenue for the quarter was up 26.9% compared to the same quarter last year. During the same period last year, the company posted $0.20 EPS. On average, sell-side analysts predict that New Relic Inc will post -0.88 earnings per share for the current year.

About New Relic

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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