Lisanti Capital Growth LLC trimmed its holdings in shares of New Relic Inc (NYSE:NEWR) by 15.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,985 shares of the software maker’s stock after selling 7,525 shares during the period. New Relic comprises approximately 1.3% of Lisanti Capital Growth LLC’s holdings, making the stock its 28th biggest holding. Lisanti Capital Growth LLC’s holdings in New Relic were worth $2,310,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Essex Investment Management Co. LLC boosted its position in New Relic by 11.4% during the third quarter. Essex Investment Management Co. LLC now owns 10,031 shares of the software maker’s stock worth $500,000 after acquiring an additional 1,025 shares during the last quarter. Voya Investment Management LLC boosted its position in New Relic by 58.2% during the second quarter. Voya Investment Management LLC now owns 13,072 shares of the software maker’s stock worth $562,000 after acquiring an additional 4,807 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in New Relic during the second quarter worth approximately $1,734,000. Ardsley Advisory Partners acquired a new stake in New Relic during the second quarter worth approximately $430,000. Finally, Ameriprise Financial Inc. acquired a new stake in New Relic during the second quarter worth approximately $1,294,000. Hedge funds and other institutional investors own 75.84% of the company’s stock.

New Relic Inc (NEWR) opened at $63.77 on Friday. The firm has a market cap of $3,583.17, a price-to-earnings ratio of -63.64 and a beta of 0.98. New Relic Inc has a 1-year low of $33.10 and a 1-year high of $66.10.

New Relic (NYSE:NEWR) last posted its earnings results on Tuesday, February 6th. The software maker reported $0.05 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.07) by $0.12. The business had revenue of $91.83 million for the quarter, compared to analyst estimates of $89.31 million. New Relic had a negative net margin of 16.17% and a negative return on equity of 25.55%. The business’s quarterly revenue was up 34.8% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.09) EPS. research analysts forecast that New Relic Inc will post -0.98 earnings per share for the current year.

A number of brokerages recently issued reports on NEWR. Robert W. Baird raised their target price on shares of New Relic from $65.00 to $68.00 and gave the stock an “outperform” rating in a research report on Wednesday. JMP Securities lifted their price target on shares of New Relic from $54.00 to $56.00 and gave the company a “market outperform” rating in a report on Wednesday, November 8th. BMO Capital Markets lifted their price target on shares of New Relic from $68.00 to $71.00 and gave the company a “market perform” rating in a report on Wednesday. Needham & Company LLC lifted their price target on shares of New Relic from $69.00 to $73.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Oppenheimer lifted their price target on shares of New Relic from $57.00 to $66.00 and gave the company an “outperform” rating in a report on Wednesday. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. New Relic presently has a consensus rating of “Buy” and a consensus target price of $60.00.

In related news, insider James R. Gochee sold 428 shares of New Relic stock in a transaction on Monday, December 18th. The shares were sold at an average price of $59.10, for a total transaction of $25,294.80. Following the transaction, the insider now owns 337,904 shares in the company, valued at approximately $19,970,126.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Mark Sachleben sold 5,000 shares of New Relic stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $64.58, for a total transaction of $322,900.00. The disclosure for this sale can be found here. Insiders have sold a total of 172,458 shares of company stock worth $10,079,591 in the last 90 days. Company insiders own 23.10% of the company’s stock.

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New Relic Profile

New Relic, Inc (New Relic) is a provider of enterprise software. The Company’s cloud-based platform and range of products enable organizations to collect, store and analyze software data in real time. The Company’s New Relic Software Analytics Cloud consists of an integrated suite of products, a data database and an open platform.

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

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