New Relic Inc (NYSE:NEWR) CEO Sells $45,750.00 in Stock

New Relic Inc (NYSE:NEWR) CEO Lewis Cirne sold 500 shares of the company’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $91.50, for a total transaction of $45,750.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Lewis Cirne also recently made the following trade(s):

  • On Wednesday, July 3rd, Lewis Cirne sold 17,000 shares of New Relic stock. The shares were sold at an average price of $90.10, for a total transaction of $1,531,700.00.
  • On Tuesday, June 4th, Lewis Cirne sold 19,500 shares of New Relic stock. The stock was sold at an average price of $97.72, for a total transaction of $1,905,540.00.
  • On Thursday, May 2nd, Lewis Cirne sold 21,000 shares of New Relic stock. The stock was sold at an average price of $104.75, for a total transaction of $2,199,750.00.

Shares of NYSE NEWR opened at $95.78 on Friday. New Relic Inc has a twelve month low of $70.30 and a twelve month high of $114.78. The company has a quick ratio of 2.90, a current ratio of 2.90 and a debt-to-equity ratio of 1.16. The company has a market cap of $5.47 billion, a P/E ratio of -308.97 and a beta of 0.82. The firm has a 50 day moving average price of $94.79.

New Relic (NYSE:NEWR) last issued its quarterly earnings results on Tuesday, May 14th. The software maker reported $0.13 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.07. New Relic had a negative return on equity of 6.57% and a negative net margin of 8.53%. The business had revenue of $132.10 million during the quarter, compared to the consensus estimate of $128.19 million. During the same period in the previous year, the business earned $0.09 EPS. The business’s quarterly revenue was up 34.2% on a year-over-year basis. Research analysts forecast that New Relic Inc will post -0.56 EPS for the current year.

A number of equities research analysts have commented on the company. Wedbush reissued an “outperform” rating and issued a $124.00 target price on shares of New Relic in a report on Wednesday, May 15th. Needham & Company LLC restated a “buy” rating and issued a $87.00 price target on shares of LivaNova in a report on Wednesday, May 15th. Zacks Investment Research cut HENGAN INTL GRP/ADR from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 21st. Goldman Sachs Group began coverage on HubSpot in a research report on Friday, June 7th. They set a “buy” rating and a $223.00 price target on the stock. Finally, ValuEngine lowered Zebra Technologies from a “buy” rating to a “hold” rating in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $115.17.

Institutional investors and hedge funds have recently modified their holdings of the stock. QS Investors LLC grew its stake in New Relic by 1.0% during the 4th quarter. QS Investors LLC now owns 10,092 shares of the software maker’s stock worth $818,000 after buying an additional 100 shares during the last quarter. Vista Equity Partners Management LLC bought a new position in shares of New Relic in the fourth quarter worth $13,553,000. Toth Financial Advisory Corp acquired a new stake in shares of New Relic in the first quarter valued at $300,000. Comerica Bank lifted its holdings in shares of New Relic by 82.7% in the fourth quarter. Comerica Bank now owns 10,497 shares of the software maker’s stock valued at $1,006,000 after buying an additional 4,752 shares during the period. Finally, O Shares Investment Advisers LLC acquired a new stake in shares of New Relic in the first quarter valued at $445,000. Hedge funds and other institutional investors own 78.69% of the company’s stock.

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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