HBK Investments L P lessened its stake in shares of New Relic Inc (NYSE:NEWR) by 24.9% during the fourth quarter, HoldingsChannel reports. The firm owned 31,218 shares of the software maker’s stock after selling 10,353 shares during the period. HBK Investments L P’s holdings in New Relic were worth $1,803,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Crow Point Partners LLC acquired a new stake in shares of New Relic in the 4th quarter worth about $113,000. Cipher Capital LP acquired a new stake in shares of New Relic in the 3rd quarter worth about $212,000. Woodstock Corp acquired a new stake in shares of New Relic in the 4th quarter worth about $212,000. Amalgamated Bank acquired a new stake in shares of New Relic in the 4th quarter worth about $240,000. Finally, Prudential Financial Inc. acquired a new stake in shares of New Relic in the 3rd quarter worth about $269,000. Institutional investors own 75.77% of the company’s stock.

Several equities research analysts have commented on NEWR shares. JPMorgan Chase & Co. lowered shares of New Relic from an “overweight” rating to a “neutral” rating and set a $62.00 price objective for the company. in a research note on Tuesday, December 12th. BMO Capital Markets started coverage on shares of New Relic in a research note on Friday, January 12th. They issued a “market perform” rating and a $68.00 price objective for the company. Stephens increased their price objective on shares of New Relic from $60.00 to $70.00 and gave the company an “overweight” rating in a research note on Wednesday, February 7th. Robert W. Baird increased their price objective on shares of New Relic from $65.00 to $68.00 and gave the company an “outperform” rating in a research note on Wednesday, February 7th. Finally, Needham & Company LLC increased their price objective on shares of New Relic from $69.00 to $73.00 and gave the company a “buy” rating in a research note on Wednesday, February 7th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $65.79.

In other news, insider James R. Gochee sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $58.31, for a total transaction of $233,240.00. Following the completion of the sale, the insider now owns 333,476 shares in the company, valued at approximately $19,444,985.56. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider James R. Gochee sold 1,179 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $69.04, for a total transaction of $81,398.16. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 321,836 shares of company stock valued at $21,499,173. 23.10% of the stock is currently owned by company insiders.

Shares of New Relic Inc (NYSE:NEWR) opened at $74.91 on Tuesday. New Relic Inc has a one year low of $34.61 and a one year high of $76.54.

New Relic (NYSE:NEWR) last issued its quarterly earnings results on Tuesday, February 6th. The software maker reported $0.05 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.07) by $0.12. New Relic had a negative net margin of 16.17% and a negative return on equity of 25.22%. The company had revenue of $91.83 million during the quarter, compared to analyst estimates of $89.31 million. During the same quarter last year, the business posted ($0.09) EPS. New Relic’s quarterly revenue was up 34.8% compared to the same quarter last year. equities research analysts anticipate that New Relic Inc will post -0.77 earnings per share for the current year.

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New Relic Company 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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