Citigroup Inc. raised its stake in shares of New Relic Inc (NYSE:NEWR) by 7.3% during the 1st quarter, HoldingsChannel reports. The fund owned 32,564 shares of the software maker’s stock after purchasing an additional 2,221 shares during the period. Citigroup Inc.’s holdings in New Relic were worth $3,214,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NEWR. NumerixS Investment Technologies Inc acquired a new position in New Relic in the fourth quarter valued at $32,000. Wealthcare Advisory Partners LLC boosted its stake in New Relic by 33.3% in the fourth quarter. Wealthcare Advisory Partners LLC now owns 400 shares of the software maker’s stock valued at $32,000 after acquiring an additional 100 shares in the last quarter. Cornerstone Advisors Inc. boosted its stake in New Relic by 58.4% in the first quarter. Cornerstone Advisors Inc. now owns 358 shares of the software maker’s stock valued at $35,000 after acquiring an additional 132 shares in the last quarter. Evolution Wealth Advisors LLC acquired a new position in New Relic in the first quarter valued at $42,000. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in New Relic by 44.8% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 491 shares of the software maker’s stock valued at $48,000 after acquiring an additional 152 shares in the last quarter. 79.55% of the stock is currently owned by institutional investors and hedge funds.

In other New Relic news, CEO Lewis Cirne sold 4,000 shares of the stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $94.29, for a total value of $377,160.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO Erica Schultz sold 2,500 shares of the stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $96.92, for a total transaction of $242,300.00. Following the completion of the transaction, the executive now directly owns 26,626 shares of the company’s stock, valued at $2,580,591.92. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 157,750 shares of company stock valued at $15,670,840. 20.40% of the stock is currently owned by corporate insiders.

NYSE NEWR opened at $95.30 on Wednesday. The stock has a market cap of $5.74 billion, a P/E ratio of -307.42 and a beta of 1.02. New Relic Inc has a 52-week low of $70.30 and a 52-week high of $114.78. The company has a debt-to-equity ratio of 1.16, a current ratio of 2.90 and a quick ratio of 2.90.

New Relic (NYSE:NEWR) last posted its quarterly earnings results on Tuesday, May 14th. The software maker reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.07. The firm had revenue of $132.10 million during the quarter, compared to analysts’ expectations of $128.19 million. New Relic had a negative net margin of 8.53% and a negative return on equity of 6.57%. The firm’s revenue for the quarter was up 34.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.09 earnings per share. As a group, sell-side analysts predict that New Relic Inc will post -0.56 EPS for the current fiscal year.

A number of equities research analysts have recently commented on the stock. ValuEngine cut shares of New Relic from a “buy” rating to a “hold” rating in a report on Wednesday. Wedbush reaffirmed an “outperform” rating and issued a $124.00 target price on shares of New Relic in a report on Wednesday, May 15th. Zacks Investment Research cut shares of New Relic from a “buy” rating to a “hold” rating in a report on Wednesday, April 3rd. Goldman Sachs Group assumed coverage on shares of New Relic in a report on Friday, June 7th. They issued a “sell” rating and a $83.00 target price for the company. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $131.00 target price (up from $129.00) on shares of New Relic in a report on Wednesday, May 15th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. New Relic has a consensus rating of “Buy” and an average target price of $115.17.

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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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