325 institutions hold shares in New Relic Inc. (NEWR), with 8.14M shares held by insiders accounting for 12.91% while institutional investors hold 99.62% of the company’s shares. The shares outstanding are 61.21M, and float is at 50.95M with Short Float at 14.52%. Institutions hold 86.76% of the Float.
The top institutional shareholder in the company is Eminence Capital, LP with over 5.54 million shares valued at $362.26 million. The investor’s holdings represent 8.78% of the NEWR Shares outstanding. As of Dec 30, 2020, the second largest holder is Matrix Capital Management with 5.0 million shares valued at $327.0 million to account for 7.93% of the shares outstanding. The other top investors are Vanguard Group, Inc. (The) which holds 4.87 million shares representing 7.72% and valued at over $318.36 million, while Champlain Investment Partners, LLC holds 6.60% of the shares totaling 4.16 million with a market value of $272.03 million.
New Relic Inc. (NYSE: NEWR) is 0.70% higher on its value in year-to-date trading and has touched a low of $49.43 and a high of $81.10 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The NEWR stock was last observed hovering at around $67.31 in the last trading session, with the day’s loss setting it -1.45% off its average median price target of $73.00 for the next 12 months. It is also 30.67% off the consensus price target high of $95.00 offered by 17 analysts, but current levels are -11.63% lower than the price target low of $59.00 for the same period.
Currently trading at $65.86, the stock is 1.56% and 6.00% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.89 million and changing -2.15% at the moment leaves the stock 4.60% off its SMA200. NEWR registered 23.10% gain for a year compared to 6-month loss of 5.48%. The firm has a 50-day simple moving average (SMA 50) of $62.89 and a 200-day simple moving average (SMA200) of $64.34.
The stock witnessed a 9.89% gain in the last 1 month and extending the period to 3 months gives it a -12.88%, and is 2.78% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 3.13% over the week and 3.15% over the month.
New Relic Inc. (NEWR) has around 2217 employees, a market worth around $4.21B and $654.60M in sales. Profit margin for the company is -24.30%. Distance from 52-week low is 33.24% and -18.79% from its 52-week high. The company has generated returns on investments over the last 12 months (-10.50%).
New Relic Inc. (NEWR) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for New Relic Inc. (NEWR) is a “Hold”. 17 analysts offering their recommendations for the stock have an average rating of 2.80, where 10 rate it as a Hold and 1 think it is a “Overweight”. 4 of the analysts rate the stock as a “Buy”. 2 analysts have rated the stock as a Sell or Underperform.
New Relic Inc. is expected to release its quarterly report on 08/10/2021 and quarterly earnings per share for the current quarter are estimated at -$0.45 with sales reaching $167.16M over the same period.The EPS is expected to shrink by -111.10% this year, but quarterly earnings will post 10.40% year-over-year. Quarterly sales are estimated to grow 4.70% in year-over-year returns.
New Relic Inc. (NEWR) Insider Activity
A total of 57 insider transactions have happened at New Relic Inc. (NEWR) in the last six months, with sales accounting for 33 and purchases happening 24 times. The most recent transaction is an insider sale by Cirne Lewis, the company’s CEO. SEC filings show that Cirne Lewis sold 1,000 shares of the company’s common stock on Apr 06 at a price of $64.03 per share for a total of $64033.0. Following the sale, the insider now owns 5.81 million shares.
New Relic Inc. disclosed in a document filed with the SEC on Apr 01 that Cirne Lewis (CEO) sold a total of 11,500 shares of the company’s common stock. The trade occurred on Apr 01 and was made at $62.48 per share for $0.72 million. Following the transaction, the insider now directly holds 5.81 million shares of the NEWR stock.
Still, SEC filings show that on Apr 01, Cirne Lewis (CEO) disposed off 30,000 shares at an average price of $62.50 for $1.88 million. The insider now directly holds 0 shares of New Relic Inc. (NEWR).
New Relic Inc. (NEWR): Who are the competitors?
The company’s main competitors (and peers) include Castlight Health Inc. (CSLT) that is trading 118.75% up over the past 12 months. SPS Commerce Inc. (SPSC) is 85.65% up on the 1-year trading charts. Short interest in the company’s stock has fallen -4.82% from the last report on Apr 14, 2021 to stand at a total of 7.4 million short shares sold with a short interest ratio of 12.11.