New Relic Inc (NYSE:NEWR) Insider Sells $105,420.48 in Stock

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New Relic Inc (NYSE:NEWR) insider James R. Gochee sold 1,788 shares of New Relic stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $58.96, for a total transaction of $105,420.48. Following the transaction, the insider now directly owns 127,213 shares in the company, valued at $7,500,478.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

James R. Gochee also recently made the following trade(s):

  • On Wednesday, June 12th, James R. Gochee sold 4,000 shares of New Relic stock. The stock was sold at an average price of $95.50, for a total transaction of $382,000.00.

Shares of NEWR opened at $57.40 on Thursday. New Relic Inc has a 1-year low of $55.60 and a 1-year high of $113.34. The stock has a market cap of $3.33 billion, a PE ratio of -185.16 and a beta of 0.83. The firm has a 50-day simple moving average of $81.84 and a two-hundred day simple moving average of $95.74. The company has a debt-to-equity ratio of 1.32, a current ratio of 2.88 and a quick ratio of 2.88.

New Relic (NYSE:NEWR) last announced its quarterly earnings results on Tuesday, August 6th. The software maker reported ($0.16) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.02. New Relic had a negative net margin of 9.93% and a negative return on equity of 8.55%. The business had revenue of $141.01 million during the quarter, compared to analysts’ expectations of $139.73 million. During the same period last year, the business earned $0.15 earnings per share. The business’s revenue for the quarter was up 30.3% on a year-over-year basis. As a group, sell-side analysts expect that New Relic Inc will post -0.68 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in NEWR. Dimensional Fund Advisors LP lifted its holdings in New Relic by 9.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 94,864 shares of the software maker’s stock worth $7,681,000 after buying an additional 7,914 shares during the period. Legal & General Group Plc lifted its holdings in New Relic by 16.9% in the fourth quarter. Legal & General Group Plc now owns 18,246 shares of the software maker’s stock worth $1,478,000 after buying an additional 2,634 shares during the period. Geode Capital Management LLC lifted its holdings in New Relic by 9.4% in the fourth quarter. Geode Capital Management LLC now owns 470,182 shares of the software maker’s stock worth $38,070,000 after buying an additional 40,494 shares during the period. Wedbush Securities Inc. purchased a new stake in New Relic in the first quarter worth about $248,000. Finally, Columbus Circle Investors lifted its holdings in New Relic by 293.9% in the first quarter. Columbus Circle Investors now owns 137,638 shares of the software maker’s stock worth $13,585,000 after buying an additional 102,696 shares during the period. Institutional investors and hedge funds own 74.72% of the company’s stock.

A number of equities analysts have commented on the stock. Zacks Investment Research raised shares of New Relic from a “sell” rating to a “hold” rating in a research note on Tuesday. UBS Group set a $73.00 target price on shares of New Relic and gave the stock a “hold” rating in a research note on Wednesday, August 7th. Argus raised shares of New Relic from a “hold” rating to a “buy” rating and set a $93.00 target price on the stock in a research note on Monday, August 12th. They noted that the move was a valuation call. KeyCorp reaffirmed a “hold” rating on shares of New Relic in a research note on Wednesday, August 7th. Finally, BMO Capital Markets reduced their target price on shares of New Relic to $73.00 and set a “positive” rating on the stock in a research note on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the company’s stock. New Relic has a consensus rating of “Buy” and a consensus price target of $99.07.

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

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