Lisanti Capital Growth LLC Sells 20,833 Shares of New Relic Inc (NEWR)

Lisanti Capital Growth LLC lowered its position in New Relic Inc (NYSE:NEWR) by 53.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 18,345 shares of the software maker’s stock after selling 20,833 shares during the period. Lisanti Capital Growth LLC’s holdings in New Relic were worth $1,729,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Tower Research Capital LLC TRC boosted its holdings in New Relic by 95.1% in the second quarter. Tower Research Capital LLC TRC now owns 1,198 shares of the software maker’s stock worth $121,000 after acquiring an additional 584 shares in the last quarter. First Quadrant L P CA bought a new position in New Relic in the third quarter worth approximately $139,000. CIBC Asset Management Inc bought a new position in New Relic in the second quarter worth approximately $200,000. Congress Park Capital LLC bought a new position in New Relic in the second quarter worth approximately $231,000. Finally, Peregrine Asset Advisers Inc. bought a new position in New Relic in the second quarter worth approximately $231,000. Institutional investors and hedge funds own 76.96% of the company’s stock.

NEWR stock opened at $92.14 on Friday. New Relic Inc has a twelve month low of $51.57 and a twelve month high of $114.78. The company has a debt-to-equity ratio of 1.28, a quick ratio of 3.83 and a current ratio of 3.83. The company has a market capitalization of $4.86 billion, a PE ratio of -124.51 and a beta of 0.82.

New Relic (NYSE:NEWR) last issued its quarterly earnings results on Tuesday, November 6th. The software maker reported ($0.11) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.08) by ($0.03). The business had revenue of $114.90 million for the quarter, compared to analysts’ expectations of $112.26 million. New Relic had a negative net margin of 6.93% and a negative return on equity of 8.61%. The business’s revenue was up 35.7% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.06) earnings per share. Equities research analysts anticipate that New Relic Inc will post -0.38 EPS for the current fiscal year.

Several brokerages have issued reports on NEWR. BMO Capital Markets increased their price target on New Relic from $110.00 to $117.00 and gave the stock an “outperform” rating in a report on Wednesday, August 8th. Zacks Investment Research lowered New Relic from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 10th. DA Davidson upgraded New Relic from a “neutral” rating to a “buy” rating and set a $105.00 target price on the stock in a report on Tuesday, October 23rd. They noted that the move was a valuation call. ValuEngine lowered New Relic from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, Morgan Stanley raised their target price on New Relic from $80.00 to $102.00 and gave the company an “equal weight” rating in a report on Wednesday, August 8th. Seven investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company’s stock. New Relic presently has an average rating of “Buy” and a consensus target price of $100.31.

In related news, CRO Erica Schultz sold 3,623 shares of the stock in a transaction that occurred on Thursday, August 16th. The stock was sold at an average price of $103.03, for a total transaction of $373,277.69. Following the completion of the sale, the executive now directly owns 22,066 shares of the company’s stock, valued at $2,273,459.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Mark Sachleben sold 7,500 shares of the stock in a transaction that occurred on Thursday, November 8th. The shares were sold at an average price of $96.49, for a total value of $723,675.00. The disclosure for this sale can be found here. Insiders have sold 435,742 shares of company stock valued at $41,611,091 over the last ninety days. 20.40% of the stock is currently owned by company insiders.

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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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