435 Shares in New Relic Inc (NYSE:NEWR) Purchased by Farmers & Merchants Trust Co of Chambersburg PA

Farmers & Merchants Trust Co of Chambersburg PA bought a new position in shares of New Relic Inc (NYSE:NEWR) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 435 shares of the software maker’s stock, valued at approximately $27,000.

Other institutional investors have also bought and sold shares of the company. Elkfork Partners LLC grew its position in New Relic by 51.9% during the second quarter. Elkfork Partners LLC now owns 1,394 shares of the software maker’s stock worth $121,000 after buying an additional 476 shares in the last quarter. Swiss National Bank boosted its holdings in shares of New Relic by 16.6% in the 2nd quarter. Swiss National Bank now owns 90,697 shares of the software maker’s stock worth $7,846,000 after purchasing an additional 12,900 shares in the last quarter. Baillie Gifford & Co. boosted its holdings in shares of New Relic by 23.7% in the 2nd quarter. Baillie Gifford & Co. now owns 1,259,823 shares of the software maker’s stock worth $108,987,000 after purchasing an additional 241,662 shares in the last quarter. US Bancorp DE boosted its holdings in shares of New Relic by 41.4% in the 2nd quarter. US Bancorp DE now owns 12,569 shares of the software maker’s stock worth $1,088,000 after purchasing an additional 3,681 shares in the last quarter. Finally, Point72 Hong Kong Ltd purchased a new position in shares of New Relic in the 2nd quarter worth about $55,000. Institutional investors and hedge funds own 78.76% of the company’s stock.

In other news, CEO Lewis Cirne sold 8,500 shares of the stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $62.28, for a total value of $529,380.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Mark Sachleben sold 10,000 shares of the stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $63.21, for a total value of $632,100.00. The disclosure for this sale can be found here. Insiders have sold a total of 68,204 shares of company stock valued at $4,623,288 in the last ninety days. 17.40% of the stock is currently owned by corporate insiders.

Several brokerages recently weighed in on NEWR. KeyCorp restated a “hold” rating on shares of New Relic in a report on Wednesday, August 7th. DA Davidson set a $95.00 target price on New Relic and gave the company a “buy” rating in a report on Thursday, August 29th. Oppenheimer dropped their target price on New Relic from $85.00 to $80.00 and set an “outperform” rating for the company in a report on Friday, October 11th. Wedbush restated an “outperform” rating and set a $99.00 target price (down from $124.00) on shares of New Relic in a report on Wednesday, August 7th. Finally, Goldman Sachs Group dropped their target price on New Relic from $65.00 to $52.00 and set a “sell” rating for the company in a report on Monday, September 16th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $84.12.

NEWR traded up $0.60 during midday trading on Thursday, reaching $59.59. 11,756 shares of the company’s stock traded hands, compared to its average volume of 761,757. The firm has a fifty day moving average of $60.52 and a two-hundred day moving average of $82.32. The stock has a market capitalization of $3.41 billion, a price-to-earnings ratio of -192.31 and a beta of 0.97. The company has a debt-to-equity ratio of 1.32, a current ratio of 2.88 and a quick ratio of 2.88. New Relic Inc has a 52 week low of $50.00 and a 52 week high of $109.00.

New Relic (NYSE:NEWR) last released its quarterly earnings results on Tuesday, August 6th. The software maker reported ($0.16) EPS for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.02. The business had revenue of $141.01 million during the quarter, compared to analyst estimates of $139.73 million. New Relic had a negative return on equity of 8.55% and a negative net margin of 9.93%. New Relic’s quarterly revenue was up 30.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.15 EPS. Sell-side analysts forecast that New Relic Inc will post -0.71 EPS for the current year.

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.

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

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