Nomura Holdings Inc. decreased its holdings in shares of New Relic Inc (NYSE:NEWR) by 0.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 670,831 shares of the software maker’s stock after selling 3,361 shares during the quarter. Nomura Holdings Inc.’s holdings in New Relic were worth $59,712,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also bought and sold shares of NEWR. Cornerstone Advisors Inc. lifted its holdings in New Relic by 58.4% in the 1st quarter. Cornerstone Advisors Inc. now owns 358 shares of the software maker’s stock worth $35,000 after buying an additional 132 shares in the last quarter. Evolution Wealth Advisors LLC acquired a new position in New Relic in the 1st quarter worth $42,000. Flinton Capital Management LLC lifted its holdings in New Relic by 51.9% in the 2nd quarter. Flinton Capital Management LLC now owns 656 shares of the software maker’s stock worth $57,000 after buying an additional 224 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in New Relic by 255.8% in the 1st quarter. Victory Capital Management Inc. now owns 587 shares of the software maker’s stock worth $58,000 after buying an additional 422 shares in the last quarter. Finally, FNY Investment Advisers LLC acquired a new position in New Relic in the 2nd quarter worth $78,000. Institutional investors and hedge funds own 79.12% of the company’s stock.
Shares of NEWR traded up $0.51 during midday trading on Friday, hitting $63.23. The company had a trading volume of 39,853 shares, compared to its average volume of 1,298,792. The company’s 50 day moving average price is $62.75 and its 200 day moving average price is $89.10. The stock has a market cap of $3.51 billion, a price-to-earnings ratio of -204.52 and a beta of 0.96. New Relic Inc has a 52 week low of $50.00 and a 52 week high of $109.00. The company has a quick ratio of 2.88, a current ratio of 2.88 and a debt-to-equity ratio of 1.32.
New Relic (NYSE:NEWR) last released its earnings results on Tuesday, August 6th. The software maker reported ($0.16) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.18) by $0.02. The company had revenue of $141.01 million during the quarter, compared to the consensus estimate of $139.73 million. New Relic had a negative net margin of 9.93% and a negative return on equity of 8.55%. The company’s revenue was up 30.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.15 EPS. Equities analysts anticipate that New Relic Inc will post -0.71 EPS for the current fiscal year.
In related news, CFO Mark Sachleben sold 15,000 shares of the business’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $93.65, for a total transaction of $1,404,750.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Lewis Cirne sold 500 shares of the business’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $91.50, for a total transaction of $45,750.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 99,054 shares of company stock valued at $7,711,788. Insiders own 17.40% of the company’s stock.
A number of brokerages have commented on NEWR. Robert W. Baird cut their price objective on shares of New Relic from $84.00 to $77.00 and set an “outperform” rating on the stock in a report on Tuesday. Deutsche Bank reiterated a “buy” rating and issued a $65.00 price objective (down previously from $90.00) on shares of New Relic in a report on Monday. BMO Capital Markets cut their price objective on shares of New Relic to $73.00 and set a “positive” rating on the stock in a report on Wednesday, August 7th. UBS Group cut their price objective on shares of New Relic from $73.00 to $62.00 and set a “neutral” rating on the stock in a report on Tuesday. Finally, Needham & Company LLC boosted their price objective on shares of New Relic from $114.00 to $120.00 and gave the stock a “buy” rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the company. New Relic presently has a consensus rating of “Buy” and an average target price of $86.31.
About New Relic
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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