MetLife Investment Advisors LLC Takes $800,000 Position in New Relic (NEWR)

MetLife Investment Advisors LLC bought a new stake in New Relic (NYSE:NEWR) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm bought 13,849 shares of the software maker’s stock, valued at approximately $800,000.

A number of other hedge funds have also recently added to or reduced their stakes in NEWR. First Trust Advisors LP boosted its stake in shares of New Relic by 2,139.1% in the 4th quarter. First Trust Advisors LP now owns 1,264,352 shares of the software maker’s stock valued at $73,042,000 after purchasing an additional 1,207,885 shares in the last quarter. BlackRock Inc. boosted its stake in shares of New Relic by 4.4% in the 4th quarter. BlackRock Inc. now owns 2,215,858 shares of the software maker’s stock valued at $128,010,000 after purchasing an additional 94,283 shares in the last quarter. Wells Fargo & Company MN boosted its stake in shares of New Relic by 313.3% in the 3rd quarter. Wells Fargo & Company MN now owns 100,947 shares of the software maker’s stock valued at $5,027,000 after purchasing an additional 76,521 shares in the last quarter. Amundi Pioneer Asset Management Inc. acquired a new stake in shares of New Relic in the 4th quarter valued at approximately $4,246,000. Finally, TimesSquare Capital Management LLC boosted its stake in shares of New Relic by 10.1% in the 4th quarter. TimesSquare Capital Management LLC now owns 625,350 shares of the software maker’s stock valued at $36,126,000 after purchasing an additional 57,310 shares in the last quarter. 75.77% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:NEWR opened at $73.13 on Friday. New Relic has a one year low of $38.19 and a one year high of $79.08. The company has a market cap of $4,088.80, a P/E ratio of -66.48 and a beta of 0.64.



New Relic (NYSE:NEWR) last posted its earnings results on Tuesday, February 6th. The software maker reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.07) by $0.12. New Relic had a negative net margin of 16.17% and a negative return on equity of 25.22%. The business had revenue of $91.83 million for the quarter, compared to the consensus estimate of $89.31 million. During the same period last year, the company earned ($0.09) EPS. The firm’s revenue was up 34.8% compared to the same quarter last year. analysts predict that New Relic will post -0.77 earnings per share for the current year.

In other New Relic news, insider James R. Gochee sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $58.31, for a total transaction of $233,240.00. Following the completion of the transaction, the insider now owns 333,476 shares in the company, valued at approximately $19,444,985.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Mark Sachleben sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 10th. The stock was sold at an average price of $74.87, for a total transaction of $748,700.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 346,002 shares of company stock valued at $24,003,893. Company insiders own 23.10% of the company’s stock.

A number of equities research analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of New Relic from a “buy” rating to a “hold” rating in a research note on Wednesday. Robert W. Baird raised their price target on shares of New Relic from $65.00 to $68.00 and gave the company an “outperform” rating in a research note on Wednesday, February 7th. BMO Capital Markets lifted their target price on shares of New Relic from $68.00 to $71.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 7th. Needham & Company LLC lifted their target price 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. Finally, ValuEngine upgraded shares of New Relic from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Seven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $66.57.

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New Relic Company Profile

New Relic, Inc, a software-as-a-service company, provides digital intelligence products worldwide. The company's cloud-based platform and suite of products include New Relic Digital Intelligence Platform, which enables organizations to collect, store, and analyze data. It provides New Relic Application Performance Management that offers visibility into the performance and usage of server-based applications, such as data pertaining to response time, transaction throughput, error rates, transactions, and user satisfaction; New Relic Mobile, which provides code-level visibility into the performance of mobile applications running on the iOS and Android mobile operating systems; and New Relic Browser, a product 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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