James R. Gochee Sells 500 Shares of New Relic Inc (NEWR) Stock

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New Relic Inc (NYSE:NEWR) insider James R. Gochee sold 500 shares of the business’s stock in a transaction on Monday, December 17th. The shares were sold at an average price of $84.83, for a total transaction of $42,415.00. Following the sale, the insider now directly owns 302,337 shares of the company’s stock, valued at $25,647,247.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

NYSE:NEWR opened at $81.40 on Wednesday. New Relic Inc has a 1-year low of $56.01 and a 1-year high of $114.78. The stock has a market capitalization of $4.57 billion, a P/E ratio of -110.00 and a beta of 0.80. The company has a quick ratio of 3.81, a current ratio of 3.81 and a debt-to-equity ratio of 1.25.

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

A number of analysts recently weighed in on NEWR shares. TheStreet raised shares of New Relic from a “d” rating to a “c” rating in a research note on Thursday, August 23rd. DA Davidson raised shares of New Relic from a “neutral” rating to a “buy” rating and set a $105.00 price objective for the company in a research note on Tuesday, October 23rd. They noted that the move was a valuation call. BMO Capital Markets lowered their price objective on shares of New Relic from $117.00 to $110.00 and set an “outperform” rating for the company in a research note on Wednesday, November 7th. ValuEngine lowered shares of New Relic from a “buy” rating to a “hold” rating in a research note on Tuesday, November 6th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $116.00 price objective (down from $126.00) on shares of New Relic in a research note on Wednesday, October 10th. Six equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. New Relic presently has an average rating of “Buy” and a consensus target price of $103.47.

Several hedge funds have recently added to or reduced their stakes in NEWR. BlackRock Inc. lifted its position in shares of New Relic by 28.6% during the second quarter. BlackRock Inc. now owns 3,288,310 shares of the software maker’s stock valued at $330,772,000 after buying an additional 731,705 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of New Relic by 158.5% during the second quarter. Renaissance Technologies LLC now owns 1,091,000 shares of the software maker’s stock valued at $109,744,000 after buying an additional 669,000 shares during the last quarter. Nomura Holdings Inc. purchased a new stake in shares of New Relic during the second quarter valued at about $64,051,000. Vanguard Group Inc lifted its position in shares of New Relic by 11.5% during the third quarter. Vanguard Group Inc now owns 4,552,159 shares of the software maker’s stock valued at $428,950,000 after buying an additional 468,506 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of New Relic by 11.5% during the third quarter. Vanguard Group Inc. now owns 4,552,159 shares of the software maker’s stock valued at $428,950,000 after buying an additional 468,506 shares during the last quarter. 77.05% of the stock is owned by institutional investors and hedge funds.

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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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