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 $290,917 , the company said in a statement filed on May 9, 2016 with the SEC.New Relic Inc makes up approximately 8.95% of General Motors Investment Management Corp’s portfolio.

Other Hedge Funds, Including , Essex Investment Management Co sold out all of its stake in NEWR during the most recent quarter. The investment firm sold 7,288 shares of NEWR which is valued $185,771. Thompson Davis sold out all of its stake in NEWR during the most recent quarter. The investment firm sold 125 shares of NEWR which is valued $3,094.Russell Frank Co reduced its stake in NEWR by selling 10,754 shares or 22.75% in the most recent quarter. The Hedge Fund company now holds 36,506 shares of NEWR which is valued at $941,125.

New Relic Inc closed down -0.54 points or -2.07% at $25.49 with 5,57,644 shares getting traded on Friday. Post opening the session at $25.78, the shares hit an intraday low of $25.26 and an intraday high of $26.06 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, New Relic Inc reported $-0.24 EPS for the quarter, based on the information available during the earnings call on May 10, 2016. Analyst had a consensus estimate of $-0.24. The company had revenue of $52.50 million for the quarter, compared to analysts expectations of $50.67 million. The company’s revenue was up 57.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.22 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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