New Relic Inc (NEWR) Insider Sells $233,240.00 in Stock

New Relic Inc (NYSE:NEWR) insider James R. Gochee sold 4,000 shares of the business’s stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $58.31, for a total transaction of $233,240.00. Following the sale, the insider now directly owns 333,476 shares in the company, valued at approximately $19,444,985.56. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

New Relic Inc (NEWR) opened at $58.15 on Friday. The firm has a market cap of $3,179.85, a price-to-earnings ratio of -51.92 and a beta of 1.03. New Relic Inc has a 1-year low of $32.18 and a 1-year high of $60.97.

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

A number of equities research analysts have issued reports on the stock. JMP Securities boosted their target price on shares of New Relic from $54.00 to $56.00 and gave the company a “market outperform” rating in a report on Wednesday, November 8th. JPMorgan Chase & Co. cut shares of New Relic from an “overweight” rating to a “neutral” rating and set a $62.00 price target on the stock. in a report on Tuesday, December 12th. Morgan Stanley upped their price target on shares of New Relic from $48.00 to $52.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 8th. BMO Capital Markets initiated coverage on shares of New Relic in a report on Friday, January 12th. They issued a “market perform” rating and a $68.00 price target on the stock. Finally, BidaskClub cut shares of New Relic from a “buy” rating to a “hold” rating in a report on Tuesday, November 7th. Seven investment 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 $55.21.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NEWR. Ameritas Investment Partners Inc. increased its stake in New Relic by 50.4% in the second quarter. Ameritas Investment Partners Inc. now owns 2,573 shares of the software maker’s stock valued at $111,000 after acquiring an additional 862 shares during the last quarter. Crow Point Partners LLC bought a new position in New Relic in the fourth quarter valued at $113,000. ETF Managers Group LLC bought a new position in New Relic in the second quarter valued at $118,000. BNP Paribas Arbitrage SA increased its stake in New Relic by 507.2% in the second quarter. BNP Paribas Arbitrage SA now owns 3,813 shares of the software maker’s stock valued at $164,000 after acquiring an additional 3,185 shares during the last quarter. Finally, BT Investment Management Ltd bought a new position in New Relic in the second quarter valued at $186,000. 77.08% of the stock is currently owned by institutional investors and hedge funds.

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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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