Robin Schulman Sells 8,401 Shares of New Relic Inc (NEWR) Stock

New Relic Inc (NYSE:NEWR) VP Robin Schulman sold 8,401 shares of the company’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $69.89, for a total value of $587,145.89. Following the completion of the transaction, the vice president now directly owns 7,869 shares of the company’s stock, valued at approximately $549,964.41. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Robin Schulman also recently made the following trade(s):

  • On Wednesday, February 7th, Robin Schulman sold 2,318 shares of New Relic stock. The stock was sold at an average price of $62.81, for a total value of $145,593.58.
  • On Monday, January 29th, Robin Schulman sold 1 shares of New Relic stock. The stock was sold at an average price of $62.81, for a total value of $62.81.
  • On Wednesday, December 20th, Robin Schulman sold 372 shares of New Relic stock. The stock was sold at an average price of $59.30, for a total value of $22,059.60.
  • On Friday, December 15th, Robin Schulman sold 1,575 shares of New Relic stock. The stock was sold at an average price of $58.90, for a total value of $92,767.50.
  • On Monday, December 18th, Robin Schulman sold 1,991 shares of New Relic stock. The stock was sold at an average price of $58.97, for a total value of $117,409.27.
  • On Monday, November 20th, Robin Schulman sold 1,144 shares of New Relic stock. The stock was sold at an average price of $55.13, for a total value of $63,068.72.

Shares of New Relic Inc (NEWR) opened at $68.34 on Friday. New Relic Inc has a 52-week low of $33.10 and a 52-week high of $70.92. The company has a market capitalization of $3,760.00, a PE ratio of -69.03 and a beta of 0.98.

New Relic (NYSE:NEWR) last released its quarterly earnings results on Tuesday, February 6th. The software maker reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.12. New Relic had a negative return on equity of 25.22% and a negative net margin of 16.17%. The firm had revenue of $91.83 million for the quarter, compared to analyst estimates of $89.31 million. During the same quarter in the previous year, the company posted ($0.09) EPS. The business’s revenue was up 34.8% on a year-over-year basis. equities analysts expect that New Relic Inc will post -0.81 earnings per share for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Crow Point Partners LLC bought a new stake in shares of New Relic in the 4th quarter valued at about $113,000. Ameritas Investment Partners Inc. grew its position in shares of New Relic by 50.4% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,573 shares of the software maker’s stock valued at $111,000 after buying an additional 862 shares during the last quarter. Woodstock Corp bought a new stake in shares of New Relic in the 4th quarter valued at about $212,000. Amalgamated Bank bought a new stake in shares of New Relic in the 4th quarter valued at about $240,000. Finally, Cipher Capital LP bought a new stake in shares of New Relic in the 3rd quarter valued at about $212,000. Hedge funds and other institutional investors own 75.49% of the company’s stock.

NEWR has been the subject of a number of recent research reports. Needham & Company LLC initiated coverage on New Relic in a report on Monday, October 23rd. They issued a “buy” rating and a $69.00 target price for the company. JPMorgan Chase & Co. cut New Relic from an “overweight” rating to a “neutral” rating and set a $62.00 target price for the company. in a report on Tuesday, December 12th. BidaskClub cut New Relic from a “buy” rating to a “hold” rating in a report on Tuesday, November 7th. BMO Capital Markets initiated coverage on New Relic in a report on Friday, January 12th. They issued a “market perform” rating and a $68.00 target price for the company. Finally, Morgan Stanley upped their target price on New Relic from $48.00 to $52.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 8th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $60.00.

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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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