James R. Gochee Sells 4,000 Shares of New Relic Inc (NEWR) Stock

New Relic Inc (NYSE:NEWR) insider James R. Gochee sold 4,000 shares of New Relic stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $58.31, for a total transaction of $233,240.00. Following the sale, the insider now owns 333,476 shares in the company, valued at approximately $19,444,985.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Shares of New Relic Inc (NYSE:NEWR) traded down $0.28 during trading hours on Wednesday, hitting $57.93. 542,513 shares of the stock traded hands, compared to its average volume of 515,220. New Relic Inc has a 52 week low of $31.14 and a 52 week high of $60.97. The firm has a market cap of $3,190.00, a P/E ratio of -52.19 and a beta of 1.03.

New Relic (NYSE:NEWR) last released its quarterly earnings results on Tuesday, November 7th. The software maker reported ($0.06) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.10) by $0.04. New Relic had a negative return on equity of 29.19% and a negative net margin of 19.43%. The business had revenue of $84.68 million during the quarter, compared to analysts’ expectations of $82.98 million. During the same period in the previous year, the business posted ($0.09) earnings per share. The firm’s revenue for the quarter was up 33.5% compared to the same quarter last year. analysts predict that New Relic Inc will post -0.98 EPS for the current year.

Institutional investors have recently added to or reduced their stakes in the stock. Ameritas Investment Partners Inc. raised its holdings in shares of New Relic by 50.4% in the second quarter. Ameritas Investment Partners Inc. now owns 2,573 shares of the software maker’s stock valued at $111,000 after buying an additional 862 shares during the last quarter. Crow Point Partners LLC bought a new position in shares of New Relic in the fourth quarter valued at about $113,000. ETF Managers Group LLC bought a new position in shares of New Relic in the second quarter valued at about $118,000. BNP Paribas Arbitrage SA raised its holdings in shares of New Relic by 507.2% in the second quarter. BNP Paribas Arbitrage SA now owns 3,813 shares of the software maker’s stock valued at $164,000 after buying an additional 3,185 shares during the last quarter. Finally, BT Investment Management Ltd bought a new position in shares of New Relic in the second quarter valued at about $186,000. 77.08% of the stock is owned by institutional investors and hedge funds.

NEWR has been the topic of a number of recent research reports. Zacks Investment Research upgraded shares of New Relic from a “hold” rating to a “buy” rating and set a $56.00 price target on the stock in a research note on Wednesday, October 4th. Oppenheimer restated a “buy” rating and issued a $50.00 target price on shares of New Relic in a research note on Tuesday, September 19th. Needham & Company LLC assumed coverage on shares of New Relic in a research note on Monday, October 23rd. They issued a “buy” rating and a $69.00 target price on the stock. Morgan Stanley boosted their target price on shares of New Relic from $48.00 to $52.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 8th. Finally, BidaskClub downgraded shares of New Relic from a “buy” rating to a “hold” rating in a research note on Tuesday, November 7th. Seven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. New Relic presently has a consensus rating of “Buy” and a consensus target price of $55.21.

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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.

Insider Buying and Selling by Quarter for New Relic (NYSE:NEWR)

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