New Relic Inc (NEWR) Insider Sells $423,520.00 in Stock

New Relic Inc (NYSE:NEWR) insider James R. Gochee sold 4,000 shares of New Relic stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $105.88, for a total transaction of $423,520.00. Following the completion of the sale, the insider now owns 293,234 shares of the company’s stock, valued at approximately $31,047,615.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

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

  • On Tuesday, February 19th, James R. Gochee sold 1,624 shares of New Relic stock. The stock was sold at an average price of $106.82, for a total transaction of $173,475.68.

Shares of NYSE:NEWR opened at $105.18 on Friday. The company has a market capitalization of $6.03 billion, a PE ratio of -142.14 and a beta of 1.04. The company has a quick ratio of 3.53, a current ratio of 3.53 and a debt-to-equity ratio of 1.23. New Relic Inc has a 12 month low of $68.89 and a 12 month high of $114.78.

New Relic (NYSE:NEWR) last issued its earnings results on Wednesday, February 6th. The software maker reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.03. The company had revenue of $124.00 million during the quarter, compared to analysts’ expectations of $120.18 million. New Relic had a negative net margin of 6.96% and a negative return on equity of 6.08%. The business’s revenue for the quarter was up 35.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.05 EPS. As a group, research analysts expect that New Relic Inc will post -0.32 EPS for the current year.

Several brokerages have weighed in on NEWR. Wedbush reiterated an “outperform” rating and issued a $124.00 price objective on shares of New Relic in a research note on Wednesday, February 27th. Robert W. Baird boosted their target price on shares of New Relic from $115.00 to $125.00 and gave the company an “outperform” rating in a research report on Wednesday, February 6th. Zacks Investment Research upgraded shares of New Relic from a “hold” rating to a “strong-buy” rating and set a $119.00 target price for the company in a research report on Tuesday, February 12th. JMP Securities restated a “hold” rating on shares of New Relic in a research report on Monday, February 11th. Finally, Oppenheimer boosted their target price on shares of New Relic from $110.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday, February 7th. Three analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the stock. New Relic has a consensus rating of “Buy” and a consensus price target of $112.64.

Several institutional investors have recently made changes to their positions in the stock. Capital Impact Advisors LLC grew its holdings in shares of New Relic by 13.2% during the 4th quarter. Capital Impact Advisors LLC now owns 26,010 shares of the software maker’s stock valued at $2,088,000 after purchasing an additional 3,042 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of New Relic by 27.6% during the 4th quarter. American Century Companies Inc. now owns 93,085 shares of the software maker’s stock valued at $7,537,000 after purchasing an additional 20,146 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of New Relic by 9.4% during the 4th quarter. Geode Capital Management LLC now owns 470,182 shares of the software maker’s stock valued at $38,070,000 after purchasing an additional 40,494 shares during the last quarter. Norges Bank bought a new stake in shares of New Relic during the 4th quarter valued at approximately $32,845,000. Finally, Dimensional Fund Advisors LP grew its holdings in shares of New Relic by 9.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 94,864 shares of the software maker’s stock valued at $7,681,000 after purchasing an additional 7,914 shares during the last quarter. 80.24% of the stock is currently owned by institutional investors.

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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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