Ricky Sandler’s Top 5 Stock Picks

2. New Relic, Inc. (NYSE: NEWR)

Value: $362,265,000
Percent of Ricky Sandler’s 13F Portfolio: 3.39%
No. of Hedge Fund Holders: 30

Ricky Sandler’s Eminence Capital is bullish on New Relic, which makes monitoring software and various other SaaS and Cloud applications. The hedge fund owns 5.54 million shares of the company, worth $362.27 million.  The stock is up 33% over the last 12 months. In February, UBS downgraded the stock and cut its price target from $89 to $76, saying that the company’s revenue growth recovery is still two to three quarters away.

According to our database, the number of NEWR’s long hedge funds positions decreased at the end of the fourth quarter of 2020. There were 30 hedge funds that hold a position in New Relic compared to 31 funds in the third quarter. The biggest stakeholder of the company is Ricky Sandler’s Eminence Capital, with 5.5 million shares, worth $362.3 million.