General Motors Investment Management Corp adds New Relic Inc (NEWR) to its portfolio

New Relic Inc (NEWR) : General Motors Investment Management Corp added new position in New Relic Inc during the most recent quarter end. The investment management firm now holds 11,413 shares of New Relic Inc which is valued at $402,765 , the company said in a statement filed on Aug 9, 2016 with the SEC.New Relic Inc makes up approximately 9.07% of General Motors Investment Management Corp’s portfolio.

Other Hedge Funds, Including , Teacher Retirement System Of Texas boosted its stake in NEWR in the latest quarter, The investment management firm added 737 additional shares and now holds a total of 3,429 shares of New Relic Inc which is valued at $121,009.State Board Of Administration Of Florida Retirement System boosted its stake in NEWR in the latest quarter, The investment management firm added 120 additional shares and now holds a total of 15,182 shares of New Relic Inc which is valued at $539,720.Swiss National Bank boosted its stake in NEWR in the latest quarter, The investment management firm added 4,100 additional shares and now holds a total of 39,397 shares of New Relic Inc which is valued at $1,336,740. Farmers Merchants Investments Inc added NEWR to its portfolio by purchasing 500 company shares during the most recent quarter which is valued at $16,695.

New Relic Inc closed down -0.35 points or -0.99% at $34.97 with 1,39,929 shares getting traded on Wednesday. Post opening the session at $35.39, the shares hit an intraday low of $34.83 and an intraday high of $35.45 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, New Relic Inc reported $-0.20 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Aug 2, 2016. Analyst had a consensus of $-0.23. The company had revenue of $58.60 million for the quarter, compared to analysts expectations of $56.95 million. The company’s revenue was up 53.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.21 EPS.

Many Wall Street Analysts have commented on New Relic Inc. Robert W. Baird Initiated New Relic Inc on May 13, 2016 to “Neutral”, Price Target of the shares are set at $30.

New Relic Inc. (New Relic) is a provider of enterprise software. The Company’s cloud-based platform and range of products enables organizations to collect store and analyze software data in real time. The Company’s Software Analytics solution consists of an integrated suite of products a data database and an open platform. Its products for technology users focus on software performance management and monitoring. New Relic offers an integrated suite of seven products namely New Relic APM for application performance management; New Relic Mobile mobile application performance management; New Relic Servers for server monitoring for cloud and data centers; New Relic Browser for end user experience monitoring and performance monitoring; New Relic Synthetics for software testing through simulated usage; New Relic Plugins plugins to extend its functionality into other applications and New Relic Insights for real-time big data analytics for business managers.

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