CAPROCK Group Inc. Buys 4,987 Shares of New Relic, Inc. (NYSE:NEWR)

CAPROCK Group Inc. lifted its stake in shares of New Relic, Inc. (NYSE:NEWRGet Rating) by 40.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 17,219 shares of the software maker’s stock after purchasing an additional 4,987 shares during the quarter. CAPROCK Group Inc.’s holdings in New Relic were worth $1,152,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. CWM LLC bought a new stake in shares of New Relic during the 4th quarter valued at $25,000. Quadrant Capital Group LLC grew its position in New Relic by 77.7% during the fourth quarter. Quadrant Capital Group LLC now owns 231 shares of the software maker’s stock worth $25,000 after buying an additional 101 shares in the last quarter. Private Ocean LLC grew its position in New Relic by 55.6% during the fourth quarter. Private Ocean LLC now owns 890 shares of the software maker’s stock worth $98,000 after buying an additional 318 shares in the last quarter. Syquant Capital Sas purchased a new position in New Relic during the fourth quarter worth about $99,000. Finally, KRS Capital Management LLC purchased a new position in New Relic during the fourth quarter worth about $155,000. Institutional investors own 88.24% of the company’s stock.

NEWR opened at $48.93 on Thursday. The business has a 50 day simple moving average of $53.50 and a two-hundred day simple moving average of $74.44. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 1.54. New Relic, Inc. has a one year low of $41.66 and a one year high of $129.70.

New Relic (NYSE:NEWRGet Rating) last announced its earnings results on Thursday, May 12th. The software maker reported ($0.84) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.88) by $0.04. New Relic had a negative return on equity of 74.08% and a negative net margin of 31.88%. The firm had revenue of $205.75 million during the quarter, compared to analyst estimates of $204.92 million. Research analysts anticipate that New Relic, Inc. will post -2.77 EPS for the current year.

A number of equities analysts have recently issued reports on the company. Truist Financial cut their price objective on New Relic from $110.00 to $95.00 in a report on Tuesday, May 10th. Robert W. Baird cut their price objective on New Relic from $117.00 to $75.00 and set a “na” rating for the company in a report on Friday, May 13th. Needham & Company LLC cut New Relic from a “buy” rating to a “hold” rating in a report on Friday, May 13th. Cowen lowered their target price on New Relic from $80.00 to $65.00 in a research note on Friday, May 13th. Finally, StockNews.com assumed coverage on New Relic in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, New Relic presently has a consensus rating of “Hold” and an average target price of $83.30.

In related news, CFO Mark Sachleben sold 2,950 shares of the company’s stock in a transaction that occurred on Monday, May 16th. The stock was sold at an average price of $43.32, for a total value of $127,794.00. Following the sale, the chief financial officer now owns 2,572 shares in the company, valued at approximately $111,419.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Kristy Friedrichs sold 3,472 shares of the company’s stock in a transaction that occurred on Wednesday, April 20th. The stock was sold at an average price of $70.47, for a total value of $244,671.84. Following the completion of the sale, the chief operating officer now owns 10,380 shares in the company, valued at approximately $731,478.60. The disclosure for this sale can be found here. Insiders sold a total of 140,752 shares of company stock valued at $8,441,832 in the last three months. Corporate insiders own 22.00% of the company’s stock.

New Relic Profile (Get Rating)

New Relic, Inc, a software-as-a-service company, delivers a software platform for customers to collect telemetry data and derive insights from that data in a unified front-end application. It offers a suite of products on its open and extensible cloud-based platform, which enables users to collect, store, and analyze telemetry data.

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

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