Jane Street Group LLC increased its stake in shares of New Relic Inc (NYSE:NEWR) by 1,013.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,597 shares of the software maker’s stock after purchasing an additional 11,757 shares during the quarter. Jane Street Group LLC’s holdings in New Relic were worth $785,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in New Relic by 15.4% in the first quarter. BlackRock Inc. now owns 2,556,605 shares of the software maker’s stock valued at $189,496,000 after acquiring an additional 340,747 shares during the last quarter. ArrowMark Colorado Holdings LLC boosted its stake in New Relic by 4.3% in the fourth quarter. ArrowMark Colorado Holdings LLC now owns 849,956 shares of the software maker’s stock valued at $49,102,000 after acquiring an additional 35,388 shares during the last quarter. Baillie Gifford & Co. boosted its stake in New Relic by 34.7% in the first quarter. Baillie Gifford & Co. now owns 676,608 shares of the software maker’s stock valued at $50,150,000 after acquiring an additional 174,255 shares during the last quarter. TimesSquare Capital Management LLC boosted its stake in New Relic by 10.1% in the fourth quarter. TimesSquare Capital Management LLC now owns 625,350 shares of the software maker’s stock valued at $36,126,000 after acquiring an additional 57,310 shares during the last quarter. Finally, Two Sigma Advisers LP boosted its stake in New Relic by 4.0% in the fourth quarter. Two Sigma Advisers LP now owns 482,999 shares of the software maker’s stock valued at $27,903,000 after acquiring an additional 18,700 shares during the last quarter. 74.08% of the stock is currently owned by institutional investors and hedge funds.

In related news, CFO Mark Sachleben sold 1,114 shares of the firm’s stock in a transaction on Wednesday, June 20th. The shares were sold at an average price of $110.00, for a total transaction of $122,540.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider James R. Gochee sold 331 shares of the firm’s stock in a transaction on Monday, June 18th. The stock was sold at an average price of $109.05, for a total transaction of $36,095.55. Following the sale, the insider now owns 320,252 shares in the company, valued at $34,923,480.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 371,189 shares of company stock worth $32,271,814. 23.10% of the stock is currently owned by company insiders.

Shares of NYSE NEWR opened at $100.59 on Friday. The firm has a market cap of $5.59 billion, a PE ratio of -135.93 and a beta of 0.83. New Relic Inc has a twelve month low of $42.48 and a twelve month high of $111.59.

New Relic (NYSE:NEWR) last announced its quarterly earnings results on Tuesday, May 8th. The software maker reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.04. The company had revenue of $98.40 million for the quarter, compared to analysts’ expectations of $96.34 million. New Relic had a negative net margin of 12.76% and a negative return on equity of 20.14%. The business’s quarterly revenue was up 34.2% compared to the same quarter last year. During the same period last year, the firm posted ($0.11) earnings per share. research analysts anticipate that New Relic Inc will post -0.59 EPS for the current year.

A number of brokerages have issued reports on NEWR. Robert W. Baird raised their price objective on shares of New Relic from $88.00 to $115.00 and gave the company an “outperform” rating in a research note on Tuesday, June 5th. Wedbush reaffirmed an “outperform” rating and issued a $86.00 price objective (down from $93.00) on shares of New Relic in a research note on Wednesday, May 9th. Morgan Stanley raised their price objective on shares of New Relic from $61.00 to $67.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 9th. Zacks Investment Research cut shares of New Relic from a “buy” rating to a “hold” rating in a research note on Friday, March 9th. Finally, Needham & Company LLC lifted their price target on shares of New Relic from $73.00 to $84.00 and gave the stock a “buy” rating in a research report on Monday, April 2nd. Eight analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $90.50.

New Relic Company Profile

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.

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

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