Goldman Sachs Group Inc. Acquires 32,703 Shares of New Relic Inc (NYSE:NEWR)

Goldman Sachs Group Inc. lifted its holdings in shares of New Relic Inc (NYSE:NEWR) by 5.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 640,642 shares of the software maker’s stock after acquiring an additional 32,703 shares during the period. Goldman Sachs Group Inc. owned approximately 1.08% of New Relic worth $42,097,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of NEWR. Carmichael Hill & Associates Inc. bought a new stake in shares of New Relic during the fourth quarter worth about $33,000. Quantum Capital Management bought a new stake in shares of New Relic during the third quarter worth about $47,000. Benjamin F. Edwards & Company Inc. bought a new stake in shares of New Relic during the fourth quarter worth about $168,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of New Relic by 6.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,268 shares of the software maker’s stock worth $215,000 after acquiring an additional 200 shares in the last quarter. Finally, Mirador Capital Partners LP bought a new stake in shares of New Relic during the fourth quarter worth about $216,000. 83.75% of the stock is owned by institutional investors.

In other New Relic news, CEO Lewis Cirne sold 8,500 shares of the business’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $67.75, for a total value of $575,875.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Mark Sachleben sold 1,670 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $60.97, for a total transaction of $101,819.90. The disclosure for this sale can be found here. Over the last quarter, insiders sold 45,170 shares of company stock worth $2,821,095. Corporate insiders own 17.40% of the company’s stock.

NEWR opened at $46.95 on Thursday. The company has a quick ratio of 2.99, a current ratio of 2.99 and a debt-to-equity ratio of 1.29. The stock has a market cap of $2.77 billion, a price-to-earnings ratio of -35.04 and a beta of 0.98. New Relic Inc has a twelve month low of $33.49 and a twelve month high of $108.91. The company’s 50-day moving average price is $52.99 and its two-hundred day moving average price is $62.14.

New Relic (NYSE:NEWR) last released its earnings results on Tuesday, February 4th. The software maker reported $0.09 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.26) by $0.35. The firm had revenue of $153.00 million for the quarter, compared to analysts’ expectations of $149.27 million. New Relic had a negative net margin of 13.67% and a negative return on equity of 13.19%. The company’s quarterly revenue was up 23.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.19 earnings per share. As a group, sell-side analysts anticipate that New Relic Inc will post -1.01 earnings per share for the current year.

NEWR has been the topic of several analyst reports. Morgan Stanley cut their price target on shares of New Relic from $83.00 to $50.00 and set an “overweight” rating on the stock in a report on Wednesday. Oppenheimer cut their price target on shares of New Relic from to in a report on Tuesday. BMO Capital Markets cut shares of New Relic from an “outperform” rating to a “market perform” rating and boosted their price target for the stock from $72.00 to $78.00 in a report on Wednesday, February 5th. Raymond James boosted their price target on shares of New Relic from $83.00 to $86.00 and gave the stock a “strong-buy” rating in a report on Wednesday, February 5th. Finally, Zacks Investment Research upgraded shares of New Relic from a “sell” rating to a “hold” rating in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. New Relic presently has a consensus rating of “Buy” and an average target price of $78.69.

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.

Further Reading: Front-End Load

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

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