Insider Selling: New Relic, Inc. (NEWR) CEO Sells 33,000 Shares of Stock
New Relic, Inc. (NYSE:NEWR) CEO Lewis Cirne sold 33,000 shares of the stock in a transaction on Monday, August 7th. The shares were sold at an average price of $46.12, for a total transaction of $1,521,960.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Lewis Cirne also recently made the following trade(s):
- On Monday, July 10th, Lewis Cirne sold 33,000 shares of New Relic stock. The stock was sold at an average price of $44.53, for a total transaction of $1,469,490.00.
- On Wednesday, June 7th, Lewis Cirne sold 33,000 shares of New Relic stock. The stock was sold at an average price of $43.68, for a total transaction of $1,441,440.00.
Shares of New Relic, Inc. (NYSE:NEWR) traded down 1.89% during trading on Monday, reaching $45.15. 402,282 shares of the company traded hands. The stock’s market capitalization is $2.42 billion. New Relic, Inc. has a 12 month low of $27.85 and a 12 month high of $49.19. The company has a 50-day moving average of $45.07 and a 200-day moving average of $40.13.
New Relic (NYSE:NEWR) last posted its quarterly earnings data on Thursday, August 3rd. The software maker reported ($0.09) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.12) by $0.03. New Relic had a negative net margin of 20.68% and a negative return on equity of 29.36%. The business had revenue of $80.10 million during the quarter, compared to analysts’ expectations of $78.09 million. During the same quarter in the prior year, the business posted ($0.20) earnings per share. New Relic’s revenue was up 36.7% compared to the same quarter last year. Analysts forecast that New Relic, Inc. will post ($0.25) earnings per share for the current fiscal year.
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A number of equities analysts have recently commented on NEWR shares. BidaskClub downgraded shares of New Relic from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Zacks Investment Research raised shares of New Relic from a “sell” rating to a “buy” rating and set a $44.00 price objective for the company in a report on Wednesday, April 12th. Stephens started coverage on shares of New Relic in a report on Thursday, May 25th. They set an “overweight” rating and a $55.00 price objective for the company. UBS AG raised their price objective on shares of New Relic from $42.00 to $47.00 and gave the stock a “neutral” rating in a report on Friday. Finally, First Analysis downgraded shares of New Relic from an “overweight” rating to an “equal weight” rating in a report on Friday. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $47.10.
A number of large investors have recently bought and sold shares of NEWR. FMR LLC boosted its stake in New Relic by 1.3% in the first quarter. FMR LLC now owns 7,916,649 shares of the software maker’s stock valued at $293,470,000 after buying an additional 99,245 shares in the last quarter. Vanguard Group Inc. boosted its stake in New Relic by 3.7% in the first quarter. Vanguard Group Inc. now owns 2,643,448 shares of the software maker’s stock valued at $97,993,000 after buying an additional 94,562 shares in the last quarter. Champlain Investment Partners LLC boosted its stake in New Relic by 21.3% in the first quarter. Champlain Investment Partners LLC now owns 1,682,895 shares of the software maker’s stock valued at $62,385,000 after buying an additional 295,085 shares in the last quarter. Clearbridge Investments LLC boosted its position in New Relic by 377.8% in the first quarter. Clearbridge Investments LLC now owns 1,368,733 shares of the software maker’s stock worth $50,739,000 after buying an additional 1,082,245 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in New Relic by 24.4% in the second quarter. Bank of New York Mellon Corp now owns 1,307,282 shares of the software maker’s stock worth $56,226,000 after buying an additional 256,257 shares during the period. 71.33% of the stock is owned by institutional investors and hedge funds.
New Relic Company Profile
New Relic, Inc (New Relic) is a provider of enterprise software. The Company’s cloud-based platform and range of products enable organizations to collect, store and analyze software data in real time. The Company’s New Relic Software Analytics Cloud consists of an integrated suite of products, a data database and an open platform.
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