Mark Sachleben Sells 1,367 Shares of New Relic, Inc. (NEWR) Stock

New Relic, Inc. (NYSE:NEWR) CFO Mark Sachleben sold 1,367 shares of the firm’s stock in a transaction dated Wednesday, September 20th. The stock was sold at an average price of $48.59, for a total value of $66,422.53. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Mark Sachleben also recently made the following trade(s):

  • On Monday, September 18th, Mark Sachleben sold 836 shares of New Relic stock. The stock was sold at an average price of $48.31, for a total value of $40,387.16.
  • On Wednesday, September 13th, Mark Sachleben sold 10,000 shares of New Relic stock. The stock was sold at an average price of $49.70, for a total value of $497,000.00.
  • On Thursday, September 7th, Mark Sachleben sold 5,000 shares of New Relic stock. The stock was sold at an average price of $48.08, for a total value of $240,400.00.
  • On Monday, August 21st, Mark Sachleben sold 6,913 shares of New Relic stock. The stock was sold at an average price of $45.89, for a total value of $317,237.57.
  • On Wednesday, August 16th, Mark Sachleben sold 1,753 shares of New Relic stock. The stock was sold at an average price of $45.93, for a total value of $80,515.29.
  • On Wednesday, August 9th, Mark Sachleben sold 10,000 shares of New Relic stock. The stock was sold at an average price of $44.60, for a total value of $446,000.00.
  • On Thursday, August 3rd, Mark Sachleben sold 5,000 shares of New Relic stock. The stock was sold at an average price of $45.37, for a total value of $226,850.00.
  • On Tuesday, July 18th, Mark Sachleben sold 5,000 shares of New Relic stock. The stock was sold at an average price of $48.14, for a total value of $240,700.00.
  • On Wednesday, July 12th, Mark Sachleben sold 10,000 shares of New Relic stock. The stock was sold at an average price of $46.68, for a total value of $466,800.00.
  • On Thursday, July 6th, Mark Sachleben sold 5,000 shares of New Relic stock. The stock was sold at an average price of $43.09, for a total value of $215,450.00.

Shares of New Relic, Inc. (NYSE NEWR) traded down 2.10% during trading on Wednesday, reaching $47.65. The company’s stock had a trading volume of 307,758 shares. New Relic, Inc. has a 52 week low of $27.85 and a 52 week high of $51.31. The company has a 50 day moving average price of $47.31 and a 200 day moving average price of $43.08. The firm’s market capitalization is $2.60 billion.

New Relic (NYSE:NEWR) last released its earnings results on Thursday, August 3rd. The software maker reported ($0.09) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.12) by $0.03. New Relic had a negative return on equity of 29.19% and a negative net margin of 20.68%. The company had revenue of $80.10 million for the quarter, compared to analysts’ expectations of $78.09 million. During the same quarter in the previous year, the firm posted ($0.20) EPS. The firm’s quarterly revenue was up 36.7% on a year-over-year basis. On average, equities research analysts expect that New Relic, Inc. will post ($0.25) EPS for the current fiscal year.

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Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Ameritas Investment Partners Inc. increased its position in New Relic by 50.4% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,573 shares of the software maker’s stock worth $111,000 after purchasing an additional 862 shares during the period. ETF Managers Group LLC acquired a new position in New Relic during the 2nd quarter worth approximately $118,000. Botty Investors LLC increased its position in New Relic by 23.5% during the 2nd quarter. Botty Investors LLC now owns 2,809 shares of the software maker’s stock worth $121,000 after purchasing an additional 535 shares during the period. BNP Paribas Arbitrage SA increased its position in New Relic by 507.2% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 3,813 shares of the software maker’s stock worth $164,000 after purchasing an additional 3,185 shares during the period. Finally, BT Investment Management Ltd acquired a new position in New Relic during the 2nd quarter worth approximately $186,000. Institutional investors own 74.80% of the company’s stock.

NEWR has been the topic of several analyst reports. Morgan Stanley lowered New Relic from an “overweight” rating to an “equal weight” rating and raised their target price for the stock from $45.00 to $48.00 in a report on Thursday, July 20th. They noted that the move was a valuation call. Stephens initiated coverage on New Relic in a report on Thursday, May 25th. They set an “overweight” rating and a $55.00 target price on the stock. BidaskClub lowered New Relic from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. First Analysis lowered New Relic from an “overweight” rating to an “equal weight” rating and set a $50.00 target price on the stock. in a report on Friday, August 4th. Finally, Robert W. Baird set a $55.00 target price on New Relic and gave the stock a “buy” rating in a report on Monday, September 11th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $49.17.

About New Relic

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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