Great West Life Assurance Co. Can Invests $5.01 Million in New Relic, Inc. (NYSE:NEWR)

Great West Life Assurance Co. Can acquired a new position in shares of New Relic, Inc. (NYSE:NEWRGet Rating) in the 3rd quarter, HoldingsChannel reports. The institutional investor acquired 87,228 shares of the software maker’s stock, valued at approximately $5,008,000.

Other large investors have also modified their holdings of the company. Eminence Capital LP boosted its position in shares of New Relic by 8.3% in the second quarter. Eminence Capital LP now owns 5,579,236 shares of the software maker’s stock worth $279,241,000 after buying an additional 426,167 shares during the period. Vanguard Group Inc. raised its holdings in shares of New Relic by 1.0% during the first quarter. Vanguard Group Inc. now owns 4,973,747 shares of the software maker’s stock worth $332,645,000 after acquiring an additional 49,388 shares in the last quarter. Contour Asset Management LLC raised its holdings in shares of New Relic by 11.6% during the second quarter. Contour Asset Management LLC now owns 2,523,634 shares of the software maker’s stock worth $126,308,000 after acquiring an additional 261,372 shares in the last quarter. Clearbridge Investments LLC raised its holdings in shares of New Relic by 0.5% during the first quarter. Clearbridge Investments LLC now owns 1,889,144 shares of the software maker’s stock worth $126,346,000 after acquiring an additional 9,341 shares in the last quarter. Finally, Sachem Head Capital Management LP purchased a new stake in shares of New Relic during the second quarter worth $74,324,000. 83.56% of the stock is owned by institutional investors.

New Relic Stock Up 2.2 %

NEWR stock opened at $57.92 on Friday. The business’s 50-day simple moving average is $56.47 and its 200 day simple moving average is $58.18. The company has a market cap of $3.96 billion, a PE ratio of -17.77 and a beta of 0.86. New Relic, Inc. has a twelve month low of $41.66 and a twelve month high of $110.96.

New Relic (NYSE:NEWRGet Rating) last released its quarterly earnings data on Tuesday, November 8th. The software maker reported ($0.46) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.63) by $0.17. The company had revenue of $226.91 million for the quarter, compared to the consensus estimate of $222.60 million. New Relic had a negative return on equity of 62.88% and a negative net margin of 25.24%. On average, equities research analysts anticipate that New Relic, Inc. will post -2.17 EPS for the current year.

Insider Buying and Selling at New Relic

In other news, Director Jana Partners Llc sold 317,488 shares of New Relic stock in a transaction that occurred on Tuesday, November 15th. The shares were sold at an average price of $61.30, for a total value of $19,462,014.40. Following the completion of the transaction, the director now owns 3,212,444 shares in the company, valued at $196,922,817.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Thomas J. Lloyd sold 2,251 shares of the business’s stock in a transaction that occurred on Friday, November 18th. The shares were sold at an average price of $55.75, for a total value of $125,493.25. Following the completion of the transaction, the insider now owns 14,709 shares in the company, valued at approximately $820,026.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jana Partners Llc sold 317,488 shares of the business’s stock in a transaction that occurred on Tuesday, November 15th. The stock was sold at an average price of $61.30, for a total transaction of $19,462,014.40. Following the completion of the transaction, the director now owns 3,212,444 shares of the company’s stock, valued at approximately $196,922,817.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 620,940 shares of company stock valued at $36,806,171. 21.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

NEWR has been the subject of several recent research reports. Cowen cut their price objective on New Relic to $63.00 in a report on Tuesday, November 15th. StockNews.com upgraded New Relic from a “hold” rating to a “buy” rating in a report on Wednesday. Robert W. Baird cut their price objective on New Relic to $75.00 in a report on Tuesday, November 15th. JPMorgan Chase & Co. began coverage on New Relic in a report on Monday, October 3rd. They set a “neutral” rating and a $57.00 price objective for the company. Finally, Truist Financial lowered New Relic from a “buy” rating to a “hold” rating and cut their target price for the company from $80.00 to $55.00 in a report on Monday, January 9th. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, New Relic currently has an average rating of “Hold” and an average price target of $67.54.

About New Relic

(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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