Insider Selling: New Relic Inc (NEWR) CRO Sells 2,500 Shares of Stock

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New Relic Inc (NYSE:NEWR) CRO Erica Schultz sold 2,500 shares of the stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $96.92, for a total transaction of $242,300.00. Following the sale, the executive now owns 26,626 shares of the company’s stock, valued at approximately $2,580,591.92. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

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

  • On Friday, May 17th, Erica Schultz sold 3,680 shares of New Relic stock. The stock was sold at an average price of $100.82, for a total transaction of $371,017.60.
  • On Friday, February 22nd, Erica Schultz sold 2,500 shares of New Relic stock. The stock was sold at an average price of $103.55, for a total transaction of $258,875.00.

NYSE:NEWR opened at $98.22 on Friday. The company has a quick ratio of 2.90, a current ratio of 2.90 and a debt-to-equity ratio of 1.16. New Relic Inc has a twelve month low of $70.30 and a twelve month high of $114.78. The stock has a market cap of $5.71 billion, a price-to-earnings ratio of -316.84 and a beta of 1.03.

New Relic (NYSE:NEWR) last posted its earnings results on Tuesday, May 14th. The software maker reported $0.13 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.07. New Relic had a negative net margin of 8.53% and a negative return on equity of 6.57%. The firm had revenue of $132.10 million during the quarter, compared to the consensus estimate of $128.19 million. During the same period last year, the firm posted $0.09 EPS. The firm’s revenue for the quarter was up 34.2% on a year-over-year basis. On average, research analysts forecast that New Relic Inc will post -0.56 EPS for the current year.

A number of large investors have recently bought and sold shares of the business. QS Investors LLC boosted its stake in shares of New Relic by 1.0% during the 4th quarter. QS Investors LLC now owns 10,092 shares of the software maker’s stock worth $818,000 after purchasing an additional 100 shares during the last quarter. Wealthcare Advisory Partners LLC boosted its stake in shares of New Relic by 33.3% during the 4th quarter. Wealthcare Advisory Partners LLC now owns 400 shares of the software maker’s stock worth $32,000 after purchasing an additional 100 shares during the last quarter. OLD National Bancorp IN boosted its stake in shares of New Relic by 4.1% during the 4th quarter. OLD National Bancorp IN now owns 2,592 shares of the software maker’s stock worth $210,000 after purchasing an additional 101 shares during the last quarter. Cornerstone Advisors Inc. boosted its stake in shares of New Relic by 58.4% during the 1st quarter. Cornerstone Advisors Inc. now owns 358 shares of the software maker’s stock worth $35,000 after purchasing an additional 132 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in shares of New Relic by 44.8% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 491 shares of the software maker’s stock worth $48,000 after purchasing an additional 152 shares during the last quarter. Hedge funds and other institutional investors own 82.89% of the company’s stock.

NEWR has been the subject of a number of analyst reports. Needham & Company LLC restated a “buy” rating and set a $131.00 price objective (up previously from $129.00) on shares of New Relic in a research report on Wednesday, May 15th. Deutsche Bank upped their price objective on shares of New Relic to $120.00 and gave the stock a “buy” rating in a research report on Thursday, February 7th. DA Davidson restated a “buy” rating on shares of New Relic in a research report on Thursday, February 7th. JMP Securities restated a “hold” rating on shares of New Relic in a research report on Monday, February 11th. Finally, Zacks Investment Research downgraded shares of New Relic from a “buy” rating to a “hold” rating in a research report on Wednesday, April 3rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $117.42.

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New Relic Company 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.

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

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