New Relic Inc (NYSE:NEWR) CFO Sells $270,679.50 in Stock

New Relic Inc (NYSE:NEWR) CFO Mark Sachleben sold 4,627 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $58.50, for a total transaction of $270,679.50. Following the completion of the transaction, the chief financial officer now owns 1,834 shares of the company’s stock, valued at $107,289. The sale was disclosed in a document filed with the SEC, which is available through this link.

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

  • On Friday, August 16th, Mark Sachleben sold 2,295 shares of New Relic stock. The stock was sold at an average price of $58.95, for a total transaction of $135,290.25.
  • On Tuesday, August 13th, Mark Sachleben sold 10,000 shares of New Relic stock. The stock was sold at an average price of $63.21, for a total transaction of $632,100.00.
  • On Monday, July 15th, Mark Sachleben sold 15,000 shares of New Relic stock. The stock was sold at an average price of $93.65, for a total transaction of $1,404,750.00.
  • On Tuesday, June 18th, Mark Sachleben sold 15,000 shares of New Relic stock. The stock was sold at an average price of $96.98, for a total transaction of $1,454,700.00.

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

New Relic (NYSE:NEWR) last announced its quarterly earnings data on Tuesday, August 6th. The software maker reported ($0.16) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.18) by $0.02. New Relic had a negative net margin of 9.93% and a negative return on equity of 8.55%. The company had revenue of $141.01 million for the quarter, compared to the consensus estimate of $139.73 million. During the same period in the prior year, the firm posted $0.15 EPS. New Relic’s revenue for the quarter was up 30.3% on a year-over-year basis. As a group, research analysts predict that New Relic Inc will post -0.68 earnings per share for the current fiscal year.

Several brokerages recently issued reports on NEWR. Zacks Investment Research upgraded shares of New Relic from a “sell” rating to a “hold” rating in a research note on Tuesday. Argus upgraded shares of New Relic from a “hold” rating to a “buy” rating and set a $93.00 price target for the company in a research note on Monday, August 12th. They noted that the move was a valuation call. Morgan Stanley cut their price objective on shares of New Relic from $104.00 to $84.00 and set an “overweight” rating on the stock in a research report on Wednesday. Goldman Sachs Group initiated coverage on shares of New Relic in a research report on Friday, June 7th. They set a “sell” rating and a $83.00 price objective on the stock. Finally, Wedbush reissued an “outperform” rating and set a $99.00 price objective (down from $124.00) on shares of New Relic in a research report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $99.07.

Hedge funds have recently made changes to their positions in the stock. Ladenburg Thalmann Financial Services Inc. boosted its holdings in shares of New Relic by 17.7% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,037 shares of the software maker’s stock worth $353,000 after buying an additional 608 shares during the last quarter. Eaton Vance Management boosted its holdings in shares of New Relic by 10.4% in the second quarter. Eaton Vance Management now owns 26,500 shares of the software maker’s stock worth $2,293,000 after buying an additional 2,500 shares during the last quarter. Ashford Capital Management Inc. boosted its holdings in shares of New Relic by 10.3% in the second quarter. Ashford Capital Management Inc. now owns 136,380 shares of the software maker’s stock worth $11,798,000 after buying an additional 12,700 shares during the last quarter. Vista Equity Partners Management LLC boosted its holdings in shares of New Relic by 59.4% in the second quarter. Vista Equity Partners Management LLC now owns 348,395 shares of the software maker’s stock worth $30,140,000 after buying an additional 129,822 shares during the last quarter. Finally, Nuveen Asset Management LLC boosted its holdings in shares of New Relic by 1,297.4% in the second quarter. Nuveen Asset Management LLC now owns 397,195 shares of the software maker’s stock worth $34,361,000 after buying an additional 368,771 shares during the last quarter. 74.72% of the stock is currently owned by institutional investors.

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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