Insider Selling: New Relic Inc (NEWR) CFO Sells $647,100.00 in Stock

New Relic Inc (NYSE:NEWR) CFO Mark Sachleben sold 10,000 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $64.71, for a total value of $647,100.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Mark Sachleben also recently made the following trade(s):

  • On Thursday, February 8th, Mark Sachleben sold 5,000 shares of New Relic stock. The shares were sold at an average price of $64.58, for a total value of $322,900.00.
  • On Monday, January 22nd, Mark Sachleben sold 5,000 shares of New Relic stock. The shares were sold at an average price of $57.86, for a total value of $289,300.00.
  • On Friday, January 12th, Mark Sachleben sold 10,000 shares of New Relic stock. The shares were sold at an average price of $59.12, for a total value of $591,200.00.
  • On Thursday, January 4th, Mark Sachleben sold 5,000 shares of New Relic stock. The shares were sold at an average price of $59.35, for a total value of $296,750.00.
  • On Wednesday, December 20th, Mark Sachleben sold 6,042 shares of New Relic stock. The shares were sold at an average price of $59.30, for a total value of $358,290.60.
  • On Monday, December 18th, Mark Sachleben sold 1,161 shares of New Relic stock. The shares were sold at an average price of $59.21, for a total value of $68,742.81.
  • On Monday, December 11th, Mark Sachleben sold 10,000 shares of New Relic stock. The shares were sold at an average price of $59.07, for a total value of $590,700.00.
  • On Thursday, December 7th, Mark Sachleben sold 5,000 shares of New Relic stock. The shares were sold at an average price of $56.35, for a total value of $281,750.00.
  • On Monday, November 27th, Mark Sachleben sold 5,000 shares of New Relic stock. The shares were sold at an average price of $59.04, for a total value of $295,200.00.
  • On Monday, November 20th, Mark Sachleben sold 1,645 shares of New Relic stock. The shares were sold at an average price of $55.13, for a total value of $90,688.85.

Shares of New Relic Inc (NEWR) opened at $69.22 on Thursday. The company has a market capitalization of $3,810.00, a price-to-earnings ratio of -69.92 and a beta of 0.98. New Relic Inc has a 52 week low of $33.10 and a 52 week high of $69.38.

New Relic (NYSE:NEWR) last released its earnings results on Tuesday, February 6th. The software maker reported $0.05 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.07) by $0.12. The company had revenue of $91.83 million for the quarter, compared to analysts’ expectations of $89.31 million. New Relic had a negative return on equity of 25.22% and a negative net margin of 16.17%. The business’s revenue for the quarter was up 34.8% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.09) EPS. equities analysts expect that New Relic Inc will post -0.81 EPS for the current year.

A number of institutional investors have recently made changes to their positions in NEWR. Teachers Advisors LLC raised its stake in New Relic by 28.2% in the 2nd quarter. Teachers Advisors LLC now owns 74,517 shares of the software maker’s stock valued at $3,205,000 after acquiring an additional 16,392 shares during the period. Ameriprise Financial Inc. bought a new stake in New Relic in the 2nd quarter valued at about $1,294,000. Nationwide Fund Advisors raised its stake in New Relic by 31.1% in the 2nd quarter. Nationwide Fund Advisors now owns 16,626 shares of the software maker’s stock valued at $715,000 after acquiring an additional 3,945 shares during the period. New York State Common Retirement Fund raised its stake in New Relic by 15.6% in the 2nd quarter. New York State Common Retirement Fund now owns 64,605 shares of the software maker’s stock valued at $2,779,000 after acquiring an additional 8,699 shares during the period. Finally, UBS Asset Management Americas Inc. bought a new stake in New Relic in the 2nd quarter valued at about $535,000. Institutional investors and hedge funds own 75.49% of the company’s stock.

Several equities analysts have weighed in on the company. Needham & Company LLC raised their price objective on New Relic from $69.00 to $73.00 and gave the company a “buy” rating in a research note on Wednesday, February 7th. Oppenheimer lifted their target price on New Relic from $57.00 to $66.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 7th. Stephens lifted their target price on New Relic from $60.00 to $70.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 7th. BMO Capital Markets lifted their target price on New Relic from $68.00 to $71.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 7th. Finally, Robert W. Baird lifted their target price on New Relic from $65.00 to $68.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 7th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $60.00.

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About New Relic

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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