Insider Selling: New Relic Inc (NYSE:NEWR) CRO Sells $252,631.40 in Stock

New Relic Inc (NYSE:NEWR) CRO Erica Schultz sold 4,340 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $58.21, for a total transaction of $252,631.40. Following the sale, the executive now owns 22,002 shares in the company, valued at $1,280,736.42. The sale was disclosed in a filing with the SEC, which is available at this link.

Erica Schultz also recently made the following trade(s):

  • On Friday, August 16th, Erica Schultz sold 2,154 shares of New Relic stock. The shares were sold at an average price of $58.97, for a total transaction of $127,021.38.
  • On Wednesday, May 22nd, Erica Schultz sold 2,500 shares of New Relic stock. The shares were sold at an average price of $96.92, for a total transaction of $242,300.00.

New Relic stock opened at $57.40 on Thursday. The firm’s 50 day simple moving average is $81.84 and its 200 day simple moving average is $95.74. The company has a current ratio of 2.88, a quick ratio of 2.88 and a debt-to-equity ratio of 1.32. The firm has a market capitalization of $3.36 billion, a PE ratio of -185.16 and a beta of 0.83. New Relic Inc has a 1-year low of $55.60 and a 1-year high of $113.34.

New Relic (NYSE:NEWR) last posted its earnings results on Tuesday, August 6th. The software maker reported ($0.16) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.18) by $0.02. The business had revenue of $141.01 million for the quarter, compared to analyst estimates of $139.73 million. New Relic had a negative net margin of 9.93% and a negative return on equity of 8.55%. New Relic’s revenue was up 30.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.15 EPS. Research analysts forecast that New Relic Inc will post -0.68 earnings per share for the current year.

A number of brokerages recently commented on NEWR. Needham & Company LLC set a $120.00 price target on shares of New Relic and gave the company a “buy” rating in a research note on Wednesday, August 7th. UBS Group set a $73.00 price target on shares of New Relic and gave the company a “hold” rating in a research note on Wednesday, August 7th. KeyCorp restated a “hold” rating on shares of New Relic in a research note on Wednesday, August 7th. Oppenheimer dropped their price target on shares of New Relic from $125.00 to $109.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Finally, BMO Capital Markets dropped their price target on shares of New Relic to $73.00 and set a “positive” rating on the stock in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $99.07.

A number of institutional investors have recently bought and sold shares of NEWR. Price T Rowe Associates Inc. MD increased its holdings in New Relic by 7,220.5% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 4,834,359 shares of the software maker’s stock worth $418,220,000 after acquiring an additional 4,768,320 shares during the period. Nuveen Asset Management LLC increased its holdings in New Relic by 1,297.4% during the 2nd quarter. Nuveen Asset Management LLC now owns 397,195 shares of the software maker’s stock worth $34,361,000 after acquiring an additional 368,771 shares during the period. First Trust Advisors LP increased its holdings in New Relic by 24.7% during the 2nd quarter. First Trust Advisors LP now owns 1,516,324 shares of the software maker’s stock worth $131,177,000 after acquiring an additional 300,484 shares during the period. Zevenbergen Capital Investments LLC bought a new stake in New Relic during the 1st quarter worth approximately $28,517,000. Finally, Assenagon Asset Management S.A. increased its holdings in shares of New Relic by 419.8% in the 1st quarter. Assenagon Asset Management S.A. now owns 351,856 shares of the software maker’s stock worth $34,728,000 after buying an additional 284,169 shares during the last quarter. 74.72% of the stock is currently owned by institutional investors and hedge funds.

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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