Insider Selling: New Relic Inc (NYSE:NEWR) Insider Sells 428 Shares of Stock

New Relic Inc (NYSE:NEWR) insider James R. Gochee sold 428 shares of the business’s stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $59.10, for a total value of $25,294.80. Following the transaction, the insider now owns 337,904 shares of the company’s stock, valued at $19,970,126.40. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

New Relic Inc (NYSE NEWR) opened at $59.34 on Friday. The company has a market capitalization of $3,270.00, a price-to-earnings ratio of -53.46 and a beta of 1.03. New Relic Inc has a 52 week low of $30.01 and a 52 week high of $60.85.

New Relic (NYSE:NEWR) last announced its quarterly earnings results on Tuesday, November 7th. The software maker reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.04. New Relic had a negative return on equity of 29.19% and a negative net margin of 19.43%. The firm had revenue of $84.68 million for the quarter, compared to analyst estimates of $82.98 million. During the same quarter last year, the firm posted ($0.09) earnings per share. The business’s revenue for the quarter was up 33.5% on a year-over-year basis. analysts forecast that New Relic Inc will post -0.98 earnings per share for the current fiscal year.

A number of research analysts have recently commented on NEWR shares. BidaskClub downgraded New Relic from a “strong-buy” rating to a “buy” rating in a research report on Monday, September 18th. KeyCorp started coverage on New Relic in a research report on Tuesday, September 19th. They set an “overweight” rating and a $52.00 target price for the company. Oppenheimer reiterated a “buy” rating and set a $50.00 target price on shares of New Relic in a research report on Tuesday, September 19th. Zacks Investment Research upgraded New Relic from a “hold” rating to a “buy” rating and set a $56.00 price target on the stock in a report on Wednesday, October 4th. Finally, Needham & Company LLC began coverage on New Relic in a report on Monday, October 23rd. They set a “buy” rating and a $69.00 price target on the stock. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $54.23.

A number of hedge funds have recently modified their holdings of NEWR. Russell Investments Group Ltd. boosted its position in New Relic by 185.1% during the second quarter. Russell Investments Group Ltd. now owns 66,836 shares of the software maker’s stock valued at $2,873,000 after purchasing an additional 43,389 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its position in New Relic by 21.2% during the second quarter. Schwab Charles Investment Management Inc. now owns 131,923 shares of the software maker’s stock valued at $5,675,000 after purchasing an additional 23,082 shares in the last quarter. First Trust Advisors LP bought a new stake in New Relic during the second quarter valued at about $1,594,000. Rhumbline Advisers boosted its position in New Relic by 32.4% during the second quarter. Rhumbline Advisers now owns 33,054 shares of the software maker’s stock valued at $1,422,000 after purchasing an additional 8,092 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in New Relic by 24.4% during the second quarter. Bank of New York Mellon Corp now owns 1,307,282 shares of the software maker’s stock valued at $56,226,000 after purchasing an additional 256,257 shares in the last quarter. 76.45% of the stock is currently owned by institutional investors.

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New Relic Company Profile

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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