Catalyst Capital Advisors LLC Sells 7,900 Shares of New Relic Inc (NYSE:NEWR)

Catalyst Capital Advisors LLC lowered its position in New Relic Inc (NYSE:NEWR) by 76.0% in the 4th quarter, Holdings Channel reports. The fund owned 2,500 shares of the software maker’s stock after selling 7,900 shares during the quarter. Catalyst Capital Advisors LLC’s holdings in New Relic were worth $164,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Swiss National Bank boosted its stake in shares of New Relic by 2.2% in the 4th quarter. Swiss National Bank now owns 94,997 shares of the software maker’s stock worth $6,242,000 after buying an additional 2,000 shares during the last quarter. Rhumbline Advisers boosted its stake in shares of New Relic by 3.2% in the 4th quarter. Rhumbline Advisers now owns 48,171 shares of the software maker’s stock worth $3,165,000 after buying an additional 1,499 shares during the last quarter. Cohen Capital Management Inc. boosted its stake in shares of New Relic by 66.0% in the 4th quarter. Cohen Capital Management Inc. now owns 49,011 shares of the software maker’s stock worth $3,221,000 after buying an additional 19,494 shares during the last quarter. Aigen Investment Management LP purchased a new position in shares of New Relic in the 4th quarter worth $1,234,000. Finally, Virtu Financial LLC purchased a new position in shares of New Relic in the 4th quarter worth $433,000. 81.59% of the stock is owned by hedge funds and other institutional investors.

In other news, CEO Lewis Cirne sold 8,500 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $68.59, for a total value of $583,015.00. Also, CFO Mark Sachleben sold 2,327 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $67.90, for a total value of $158,003.30. Insiders sold 54,327 shares of company stock worth $3,460,293 over the last 90 days. Company insiders own 17.40% of the company’s stock.

A number of equities analysts have recently issued reports on NEWR shares. Raymond James raised their price target on New Relic from $83.00 to $86.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, February 5th. TheStreet downgraded New Relic from a “c-” rating to a “d+” rating in a research report on Tuesday, November 5th. Wedbush downgraded New Relic from an “outperform” rating to a “neutral” rating in a research report on Wednesday, February 5th. Needham & Company LLC reiterated a “buy” rating and set a $110.00 target price on shares of New Relic in a research report on Monday, February 3rd. Finally, SunTrust Banks reiterated a “buy” rating and set a $85.00 target price on shares of New Relic in a research report on Wednesday, February 5th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $81.50.

Shares of New Relic stock opened at $60.97 on Friday. The stock’s 50-day simple moving average is $67.10 and its 200-day simple moving average is $65.29. New Relic Inc has a 52 week low of $50.00 and a 52 week high of $109.00. The company has a debt-to-equity ratio of 1.29, a quick ratio of 2.99 and a current ratio of 2.99.

New Relic (NYSE:NEWR) last announced its quarterly earnings data on Tuesday, February 4th. The software maker reported $0.09 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.26) by $0.35. New Relic had a negative return on equity of 13.19% and a negative net margin of 13.67%. The business had revenue of $153.00 million for the quarter, compared to the consensus estimate of $149.27 million. During the same period in the previous year, the business earned $0.19 earnings per share. The business’s revenue was up 23.4% on a year-over-year basis. Research analysts predict that New Relic Inc will post -1.01 EPS for the current fiscal year.

New Relic 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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