New Relic Inc (NEWR) Holdings Trimmed by Barometer Capital Management Inc.

Barometer Capital Management Inc. lowered its stake in shares of New Relic Inc (NYSE:NEWR) by 93.8% during the third quarter, HoldingsChannel.com reports. The firm owned 4,850 shares of the software maker’s stock after selling 73,950 shares during the period. Barometer Capital Management Inc.’s holdings in New Relic were worth $457,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of NEWR. Wells Fargo & Company MN raised its stake in New Relic by 103.8% during the first quarter. Wells Fargo & Company MN now owns 205,706 shares of the software maker’s stock worth $15,247,000 after purchasing an additional 104,765 shares during the period. BlackRock Inc. increased its position in shares of New Relic by 15.4% in the first quarter. BlackRock Inc. now owns 2,556,605 shares of the software maker’s stock worth $189,496,000 after acquiring an additional 340,747 shares in the last quarter. California Public Employees Retirement System increased its position in shares of New Relic by 110.5% in the first quarter. California Public Employees Retirement System now owns 29,962 shares of the software maker’s stock worth $2,221,000 after acquiring an additional 15,727 shares in the last quarter. Dimensional Fund Advisors LP acquired a new stake in shares of New Relic in the first quarter worth $679,000. Finally, Hsbc Holdings PLC acquired a new stake in shares of New Relic in the first quarter worth $2,080,000. 77.20% of the stock is currently owned by institutional investors.

Several equities research analysts have recently issued reports on the stock. Deutsche Bank assumed coverage on shares of New Relic in a research report on Monday, June 25th. They issued a “buy” rating and a $125.00 price objective for the company. Morgan Stanley increased their price objective on shares of New Relic from $73.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Wednesday, June 27th. DA Davidson assumed coverage on shares of New Relic in a research report on Wednesday, July 11th. They issued a “neutral” rating and a $105.00 price objective for the company. BMO Capital Markets increased their price objective on shares of New Relic from $110.00 to $117.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 8th. Finally, Zacks Investment Research raised shares of New Relic from a “hold” rating to a “buy” rating and set a $118.00 price objective for the company in a research report on Tuesday, August 14th. Eight investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. New Relic currently has an average rating of “Buy” and an average price target of $99.13.

In related news, Director Peter H. Fenton sold 51,971 shares of the firm’s stock in a transaction on Wednesday, September 12th. The shares were sold at an average price of $109.45, for a total transaction of $5,688,225.95. Following the completion of the sale, the director now directly owns 154 shares of the company’s stock, valued at approximately $16,855.30. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider James R. Gochee sold 4,000 shares of the firm’s stock in a transaction on Wednesday, July 11th. The shares were sold at an average price of $101.92, for a total transaction of $407,680.00. Following the sale, the insider now directly owns 315,921 shares of the company’s stock, valued at $32,198,668.32. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 435,742 shares of company stock valued at $43,463,553. Company insiders own 20.40% of the company’s stock.

NEWR opened at $89.21 on Monday. The firm has a market cap of $5.32 billion, a P/E ratio of -120.55 and a beta of 0.79. New Relic Inc has a twelve month low of $49.56 and a twelve month high of $114.78. The company has a quick ratio of 3.83, a current ratio of 3.83 and a debt-to-equity ratio of 1.28.

New Relic (NYSE:NEWR) last released its quarterly earnings results on Tuesday, August 7th. The software maker reported $0.15 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.04. The business had revenue of $108.22 million during the quarter, compared to analyst estimates of $106.09 million. New Relic had a negative net margin of 9.13% and a negative return on equity of 12.19%. Equities analysts forecast that New Relic Inc will post -0.38 earnings per share for the current year.

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.

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

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