Insider Selling: New Relic Inc (NEWR) CFO Sells 3,947 Shares of Stock

New Relic Inc (NYSE:NEWR) CFO Mark Sachleben sold 3,947 shares of the company’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $95.73, for a total value of $377,846.31. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

  • On Thursday, May 16th, Mark Sachleben sold 3,450 shares of New Relic stock. The shares were sold at an average price of $102.77, for a total value of $354,556.50.
  • 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 stock was 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 stock was 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 stock was sold at an average price of $106.53, for a total value of $2,411,945.73.

Shares of NYSE NEWR traded up $2.68 during mid-day trading on Tuesday, reaching $97.47. The company’s stock had a trading volume of 795,371 shares, compared to its average volume of 797,783. The firm has a market cap of $5.59 billion, a price-to-earnings ratio of -314.29 and a beta of 1.03. The company has a quick ratio of 3.53, a current ratio of 2.90 and a debt-to-equity ratio of 1.16. New Relic Inc has a 52 week low of $70.30 and a 52 week high of $114.78.

New Relic (NYSE:NEWR) last released its quarterly earnings data on Tuesday, May 14th. The software maker reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.07. The firm had revenue of $132.10 million during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.09 earnings per share. Research analysts expect that New Relic Inc will post -0.56 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its stake in New Relic by 15.4% during the third quarter. Dimensional Fund Advisors LP now owns 86,950 shares of the software maker’s stock valued at $8,195,000 after buying an additional 11,586 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in New Relic by 167.5% during the third quarter. JPMorgan Chase & Co. now owns 291,861 shares of the software maker’s stock valued at $27,501,000 after buying an additional 182,744 shares during the last quarter. Vanguard Group Inc boosted its stake in New Relic by 11.5% during the third quarter. Vanguard Group Inc now owns 4,552,159 shares of the software maker’s stock valued at $428,950,000 after buying an additional 468,506 shares during the last quarter. Bank of Montreal Can boosted its stake in New Relic by 70.2% during the fourth quarter. Bank of Montreal Can now owns 2,802 shares of the software maker’s stock valued at $226,000 after buying an additional 1,156 shares during the last quarter. Finally, IFP Advisors Inc boosted its stake in New Relic by 1,120.3% during the fourth quarter. IFP Advisors Inc now owns 720 shares of the software maker’s stock valued at $58,000 after buying an additional 661 shares during the last quarter. 82.31% of the stock is owned by hedge funds and other institutional investors.

A number of analysts have commented on NEWR shares. Needham & Company LLC restated a “buy” rating and issued a $131.00 price target (up previously from $129.00) on shares of New Relic in a research report on Wednesday, May 15th. Deutsche Bank upped their price target on New Relic to $120.00 and gave the stock a “buy” rating in a research report on Thursday, February 7th. DA Davidson restated a “buy” rating on shares of New Relic in a research report on Thursday, February 7th. JMP Securities restated a “hold” rating on shares of New Relic in a research report on Monday, February 11th. Finally, Zacks Investment Research cut New Relic from a “buy” rating to a “hold” rating in a research report on Wednesday, April 3rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. New Relic has an average rating of “Buy” and a consensus target price 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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Insider Buying and Selling by Quarter for New Relic (NYSE:NEWR)

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