Insider Selling: New Relic (NEWR) CRO Sells $221,791.99 in Stock

New Relic (NYSE:NEWR) CRO Erica Schultz sold 2,429 shares of the business’s stock in a transaction that occurred on Friday, May 18th. The stock was sold at an average price of $91.31, for a total value of $221,791.99. Following the completion of the sale, the executive now owns 19,357 shares of the company’s stock, valued at $1,767,487.67. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Erica Schultz also recently made the following trade(s):

  • On Tuesday, May 15th, Erica Schultz sold 1,800 shares of New Relic stock. The stock was sold at an average price of $87.07, for a total value of $156,726.00.
  • On Wednesday, May 9th, Erica Schultz sold 24,312 shares of New Relic stock. The stock was sold at an average price of $86.99, for a total value of $2,114,900.88.
  • On Monday, April 16th, Erica Schultz sold 1,800 shares of New Relic stock. The stock was sold at an average price of $73.15, for a total value of $131,670.00.

NEWR opened at $94.63 on Monday. New Relic has a 1 year low of $39.11 and a 1 year high of $95.58.

New Relic (NYSE:NEWR) last released its quarterly earnings data on Tuesday, May 8th. The software maker reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.04. The business had revenue of $98.40 million for the quarter, compared to analysts’ expectations of $96.34 million. New Relic had a negative return on equity of 20.14% and a negative net margin of 12.76%. New Relic’s quarterly revenue was up 34.2% on a year-over-year basis. During the same period in the previous year, the business posted ($0.11) earnings per share. analysts predict that New Relic will post -0.59 earnings per share for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in NEWR. Stratos Wealth Partners LTD. bought a new stake in shares of New Relic during the first quarter valued at approximately $141,000. Stifel Financial Corp bought a new stake in New Relic in the first quarter valued at $203,000. Quantum Capital Management bought a new stake in New Relic in the first quarter valued at $210,000. Woodstock Corp bought a new stake in New Relic in the fourth quarter valued at $212,000. Finally, Commonwealth Equity Services LLC bought a new stake in New Relic in the first quarter valued at $212,000. Institutional investors and hedge funds own 75.30% of the company’s stock.

Several equities research analysts recently weighed in on NEWR shares. Zacks Investment Research lowered New Relic from a “buy” rating to a “hold” rating in a report on Wednesday, April 11th. BMO Capital Markets boosted their target price on New Relic to $83.00 and gave the stock a “market perform” rating in a report on Tuesday, May 8th. Robert W. Baird boosted their target price on New Relic from $65.00 to $68.00 and gave the stock an “outperform” rating in a report on Wednesday, February 7th. Cowen lifted their price target on New Relic from $74.00 to $84.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 9th. Finally, JMP Securities downgraded New Relic from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 9th. Seven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $73.79.

About New Relic

New Relic, Inc, a software-as-a-service company, provides digital intelligence products worldwide. The company's cloud-based platform and suite of products include New Relic Digital Intelligence Platform, which enables organizations to collect, store, and analyze data. It provides New Relic Application Performance Management that offers visibility into the performance and usage of server-based applications, such as data pertaining to response time, transaction throughput, error rates, transactions, and user satisfaction; New Relic Mobile, which provides code-level visibility into the performance of mobile applications running on the iOS and Android mobile operating systems; and New Relic Browser, a product that monitors the page view experiences of actual end-users for desktop and mobile browser-based applications.

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

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