Gilder Gagnon Howe & Co. LLC Sells 774 Shares of New Relic Inc (NEWR)

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Gilder Gagnon Howe & Co. LLC decreased its holdings in shares of New Relic Inc (NYSE:NEWR) by 0.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 104,803 shares of the software maker’s stock after selling 774 shares during the quarter. Gilder Gagnon Howe & Co. LLC’s holdings in New Relic were worth $9,876,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in NEWR. California Public Employees Retirement System boosted its holdings in New Relic by 110.5% during the first quarter. California Public Employees Retirement System now owns 29,962 shares of the software maker’s stock worth $2,221,000 after purchasing an additional 15,727 shares during the last quarter. Dimensional Fund Advisors LP acquired a new position in New Relic during the first quarter worth $679,000. Stifel Financial Corp acquired a new position in New Relic during the first quarter worth $203,000. Commonwealth Equity Services LLC acquired a new position in New Relic during the first quarter worth $212,000. Finally, UBS Group AG lifted its stake in New Relic by 120.5% in the first quarter. UBS Group AG now owns 29,623 shares of the software maker’s stock valued at $2,195,000 after acquiring an additional 16,190 shares during the last quarter. Institutional investors and hedge funds own 76.90% of the company’s stock.

NYSE NEWR opened at $89.25 on Thursday. The company has a quick ratio of 3.83, a current ratio of 3.83 and a debt-to-equity ratio of 1.28. The stock has a market cap of $4.78 billion, a PE ratio of -120.61 and a beta of 0.78. New Relic Inc has a 52-week low of $50.23 and a 52-week high of $114.78.

New Relic (NYSE:NEWR) last posted its earnings results on Tuesday, August 7th. The software maker reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.04. The company had revenue of $108.22 million during the quarter, compared to analysts’ expectations of $106.09 million. New Relic had a negative net margin of 9.13% and a negative return on equity of 12.19%. As a group, equities research analysts expect that New Relic Inc will post -0.38 earnings per share for the current year.

NEWR has been the subject of a number of recent analyst reports. ValuEngine cut shares of New Relic from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 30th. TheStreet upgraded shares of New Relic from a “d” rating to a “c” rating in a research note on Thursday, August 23rd. Needham & Company LLC increased their price target on shares of New Relic from $121.00 to $129.00 and gave the company a “buy” rating in a research note on Wednesday, August 8th. Wedbush increased their price target on shares of New Relic from $116.00 to $126.00 and gave the company an “outperform” rating in a research note on Wednesday, August 8th. Finally, Argus initiated coverage on shares of New Relic in a research note on Tuesday, July 17th. They issued a “hold” rating for the company. Seven research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $97.00.

In other news, insider James R. Gochee sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, October 17th. The shares were sold at an average price of $89.99, for a total transaction of $359,960.00. Following the completion of the sale, the insider now owns 306,946 shares in the company, valued at approximately $27,622,070.54. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Peter H. Fenton sold 51,971 shares of the firm’s stock in a transaction dated Wednesday, September 12th. The stock was sold at an average price of $109.45, for a total transaction of $5,688,225.95. Following the sale, the director now owns 154 shares of the company’s stock, valued at approximately $16,855.30. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 346,742 shares of company stock valued at $33,805,571. 20.40% of the stock is currently owned by corporate insiders.

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.

Further Reading: Initial Public Offering (IPO)

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

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