New Relic Inc (NEWR) CFO Mark Sachleben Sells 3,450 Shares

New Relic Inc (NYSE:NEWR) CFO Mark Sachleben sold 3,450 shares of New Relic stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $102.77, for a total value of $354,556.50. Following the transaction, the chief financial officer now owns 589 shares in the company, valued at $60,531.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

  • On Monday, May 13th, Mark Sachleben sold 15,000 shares of New Relic stock. The shares were sold at an average price of $103.88, for a total value of $1,558,200.00.
  • On Monday, April 15th, Mark Sachleben sold 15,000 shares of New Relic stock. The shares were sold at an average price of $98.94, for a total value of $1,484,100.00.
  • On Monday, March 18th, Mark Sachleben sold 15,000 shares of New Relic stock. The shares were sold at an average price of $103.88, for a total value of $1,558,200.00.
  • On Wednesday, February 20th, Mark Sachleben sold 22,641 shares of New Relic stock. The shares were sold at an average price of $106.53, for a total value of $2,411,945.73.

NYSE:NEWR opened at $97.53 on Monday. The company has a current ratio of 2.90, a quick ratio of 3.53 and a debt-to-equity ratio of 1.16. The stock has a market cap of $5.67 billion, a price-to-earnings ratio of -314.61 and a beta of 1.03. New Relic Inc has a 52 week low of $70.30 and a 52 week high of $114.78.

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

Large investors have recently bought and sold shares of the business. Ashford Capital Management Inc. increased its holdings in shares of New Relic by 53.3% in the first quarter. Ashford Capital Management Inc. now owns 123,680 shares of the software maker’s stock worth $12,207,000 after purchasing an additional 43,000 shares during the last quarter. BlueCrest Capital Management Ltd increased its holdings in shares of New Relic by 11.7% in the first quarter. BlueCrest Capital Management Ltd now owns 3,128 shares of the software maker’s stock worth $309,000 after purchasing an additional 328 shares during the last quarter. Jericho Capital Asset Management L.P. bought a new stake in shares of New Relic in the first quarter worth about $46,386,000. Sandler Capital Management increased its holdings in shares of New Relic by 46.4% in the first quarter. Sandler Capital Management now owns 156,880 shares of the software maker’s stock worth $15,484,000 after purchasing an additional 49,720 shares during the last quarter. Finally, Toronado Partners LLC increased its holdings in shares of New Relic by 34.8% in the first quarter. Toronado Partners LLC now owns 154,889 shares of the software maker’s stock worth $15,288,000 after purchasing an additional 39,950 shares during the last quarter. 82.31% of the stock is currently owned by institutional investors and hedge funds.

Several equities analysts recently weighed in on the company. Robert W. Baird lifted their target price on New Relic from $115.00 to $125.00 and gave the company an “outperform” rating in a research report on Wednesday, February 6th. Wedbush reiterated an “outperform” rating and set a $124.00 target price on shares of New Relic in a research report on Wednesday, May 15th. Zacks Investment Research downgraded New Relic from a “buy” rating to a “hold” rating in a research report on Wednesday, April 3rd. Needham & Company LLC reiterated a “buy” rating and set a $131.00 target price (up from $129.00) on shares of New Relic in a research report on Wednesday, May 15th. Finally, Oppenheimer lifted their target price on New Relic from $110.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday, February 7th. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $117.42.

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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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