Woodstock Corp purchased a new stake in shares of New Relic Inc (NYSE:NEWR) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 3,663 shares of the software maker’s stock, valued at approximately $212,000.

Other institutional investors have also added to or reduced their stakes in the company. Essex Investment Management Co. LLC raised its holdings in shares of New Relic by 11.4% during the 3rd quarter. Essex Investment Management Co. LLC now owns 10,031 shares of the software maker’s stock valued at $500,000 after purchasing an additional 1,025 shares in the last quarter. Voya Investment Management LLC raised its holdings in shares of New Relic by 58.2% during the 2nd quarter. Voya Investment Management LLC now owns 13,072 shares of the software maker’s stock valued at $562,000 after purchasing an additional 4,807 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of New Relic by 31.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 94,229 shares of the software maker’s stock valued at $4,052,000 after purchasing an additional 22,460 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new position in New Relic in the 2nd quarter worth $1,734,000. Finally, Ardsley Advisory Partners bought a new position in New Relic in the 2nd quarter worth $430,000. Institutional investors and hedge funds own 75.98% of the company’s stock.

New Relic Inc (NYSE NEWR) traded up $1.32 during trading hours on Wednesday, hitting $60.09. 216,600 shares of the stock traded hands, compared to its average volume of 391,280. New Relic Inc has a one year low of $32.64 and a one year high of $60.97. The company has a market cap of $3,290.00, a P/E ratio of -54.14 and a beta of 1.03.

New Relic (NYSE:NEWR) last posted its quarterly earnings data on Tuesday, November 7th. The software maker reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.04. New Relic had a negative net margin of 19.43% and a negative return on equity of 29.19%. The company had revenue of $84.68 million for the quarter, compared to the consensus estimate of $82.98 million. During the same quarter in the previous year, the firm posted ($0.09) EPS. The business’s revenue was up 33.5% compared to the same quarter last year. research analysts forecast that New Relic Inc will post -0.98 earnings per share for the current fiscal year.

In other news, VP Robin Schulman sold 1,797 shares of New Relic stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $54.44, for a total transaction of $97,828.68. Following the sale, the vice president now directly owns 1,107 shares in the company, valued at approximately $60,265.08. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider James R. Gochee sold 5,746 shares of New Relic stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $54.26, for a total transaction of $311,777.96. Following the sale, the insider now owns 343,912 shares in the company, valued at $18,660,665.12. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 178,139 shares of company stock worth $9,995,635. Insiders own 23.10% of the company’s stock.

Several research analysts recently commented on NEWR shares. Zacks Investment Research upgraded shares of New Relic from a “hold” rating to a “buy” rating and set a $56.00 target price on the stock in a report on Wednesday, October 4th. Needham & Company LLC started coverage on shares of New Relic in a report on Monday, October 23rd. They issued a “buy” rating and a $69.00 target price on the stock. BidaskClub downgraded shares of New Relic from a “buy” rating to a “hold” rating in a report on Tuesday, November 7th. KeyCorp reiterated an “overweight” rating and issued a $57.00 target price (up previously from $52.00) on shares of New Relic in a report on Wednesday, November 8th. Finally, Morgan Stanley lifted their target price on shares of New Relic from $48.00 to $52.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 8th. Seven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. New Relic currently has an average rating of “Buy” and a consensus target price of $55.21.

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New Relic Company Profile

New Relic, Inc (New Relic) is a provider of enterprise software. The Company’s cloud-based platform and range of products enable organizations to collect, store and analyze software data in real time. The Company’s New Relic Software Analytics Cloud consists of an integrated suite of products, a data database and an open platform.

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

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