Jefferies Group LLC Sells 3,952 Shares of New Relic Inc (NEWR)

Jefferies Group LLC cut its holdings in New Relic Inc (NYSE:NEWR) by 35.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,230 shares of the software maker’s stock after selling 3,952 shares during the quarter. Jefferies Group LLC’s holdings in New Relic were worth $681,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Tower Research Capital LLC TRC increased its stake 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 valued at $121,000 after purchasing an additional 584 shares during the period. DekaBank Deutsche Girozentrale increased its stake in New Relic by 84.7% in the third quarter. DekaBank Deutsche Girozentrale now owns 1,293 shares of the software maker’s stock valued at $133,000 after purchasing an additional 593 shares during the period. Granite Investment Partners LLC increased its stake in New Relic by 10.9% in the third quarter. Granite Investment Partners LLC now owns 6,506 shares of the software maker’s stock valued at $613,000 after purchasing an additional 639 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of New Relic by 43.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,553 shares of the software maker’s stock worth $257,000 after acquiring an additional 768 shares during the period. Finally, Swiss National Bank increased its stake in shares of New Relic by 1.1% during the third quarter. Swiss National Bank now owns 73,197 shares of the software maker’s stock worth $6,897,000 after acquiring an additional 800 shares during the period. Institutional investors own 77.28% of the company’s stock.

Shares of NEWR opened at $87.17 on Friday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 3.81 and a current ratio of 3.81. New Relic Inc has a twelve month low of $56.01 and a twelve month high of $114.78.

New Relic (NYSE:NEWR) last issued its earnings results on Tuesday, November 6th. The software maker reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.03). New Relic had a negative return on equity of 7.97% and a negative net margin of 6.93%. The company had revenue of $114.90 million for the quarter, compared to analyst estimates of $112.26 million. During the same quarter in the previous year, the company posted ($0.06) earnings per share. The company’s quarterly revenue was up 35.7% compared to the same quarter last year. Equities research analysts expect that New Relic Inc will post -0.37 earnings per share for the current year.

In other New Relic news, CRO Erica Schultz sold 2,661 shares of the company’s stock in a transaction dated Tuesday, November 20th. The shares were sold at an average price of $70.30, for a total transaction of $187,068.30. Following the transaction, the executive now directly owns 24,263 shares in the company, valued at $1,705,688.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Lewis Cirne sold 89,000 shares of the company’s stock in a transaction dated Tuesday, October 2nd. The stock was sold at an average price of $88.09, for a total transaction of $7,840,010.00. The disclosure for this sale can be found here. Insiders have sold 392,895 shares of company stock worth $34,548,755 over the last 90 days. 20.40% of the stock is currently owned by company insiders.

A number of research analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of New Relic from a “buy” rating to a “hold” rating in a research note on Wednesday, November 14th. DA Davidson upgraded shares of New Relic from a “neutral” rating to a “buy” rating and set a $105.00 price target on the stock in a research note on Tuesday, October 23rd. They noted that the move was a valuation call. ValuEngine lowered shares of New Relic from a “buy” rating to a “hold” rating in a research note on Tuesday, November 6th. JPMorgan Chase & Co. upgraded shares of New Relic from a “neutral” rating to an “overweight” rating in a research note on Thursday. Finally, TheStreet upgraded shares of New Relic from a “d” rating to a “c” rating in a research note on Thursday, August 23rd. Six analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $103.47.

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About New Relic

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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