New Relic, Inc. (NYSE:NEWR) CFO Mark Sachleben sold 1,753 shares of the firm’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $45.93, for a total transaction of $80,515.29. Following the transaction, the chief financial officer now directly owns 1,248 shares of the company’s stock, valued at approximately $57,320.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

  • On Wednesday, August 9th, Mark Sachleben sold 10,000 shares of New Relic stock. The shares were sold at an average price of $44.60, for a total transaction of $446,000.00.
  • On Thursday, August 3rd, Mark Sachleben sold 5,000 shares of New Relic stock. The shares were sold at an average price of $45.37, for a total transaction of $226,850.00.
  • On Tuesday, July 18th, Mark Sachleben sold 5,000 shares of New Relic stock. The shares were sold at an average price of $48.14, for a total transaction of $240,700.00.
  • On Wednesday, July 12th, Mark Sachleben sold 10,000 shares of New Relic stock. The shares were sold at an average price of $46.68, for a total transaction of $466,800.00.
  • On Thursday, July 6th, Mark Sachleben sold 5,000 shares of New Relic stock. The shares were sold at an average price of $43.09, for a total transaction of $215,450.00.
  • On Tuesday, June 20th, Mark Sachleben sold 1,370 shares of New Relic stock. The shares were sold at an average price of $43.44, for a total transaction of $59,512.80.
  • On Friday, June 16th, Mark Sachleben sold 833 shares of New Relic stock. The shares were sold at an average price of $41.34, for a total transaction of $34,436.22.
  • On Monday, June 12th, Mark Sachleben sold 11,500 shares of New Relic stock. The shares were sold at an average price of $40.21, for a total transaction of $462,415.00.
  • On Monday, June 5th, Mark Sachleben sold 3,500 shares of New Relic stock. The shares were sold at an average price of $44.13, for a total transaction of $154,455.00.
  • On Tuesday, May 30th, Mark Sachleben sold 3,500 shares of New Relic stock. The shares were sold at an average price of $44.56, for a total transaction of $155,960.00.

New Relic, Inc. (NEWR) traded up 1.44% during midday trading on Wednesday, reaching $46.54. 439,135 shares of the company’s stock were exchanged. New Relic, Inc. has a 12-month low of $27.85 and a 12-month high of $49.19. The firm has a 50-day moving average price of $45.99 and a 200 day moving average price of $40.96. The company’s market cap is $2.54 billion.

New Relic (NYSE:NEWR) last posted its quarterly earnings results on Thursday, August 3rd. The software maker reported ($0.09) EPS for the quarter, beating the Zacks’ 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 29.19%. The company had revenue of $80.10 million during the quarter, compared to analyst estimates of $78.09 million. During the same period in the prior year, the business posted ($0.20) EPS. The firm’s revenue was up 36.7% compared to the same quarter last year. On average, analysts expect that New Relic, Inc. will post ($0.25) EPS for the current fiscal year.

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A number of large investors have recently bought and sold shares of NEWR. Clearbridge Investments LLC raised its position in shares of New Relic by 377.8% in the first quarter. Clearbridge Investments LLC now owns 1,368,733 shares of the software maker’s stock valued at $50,739,000 after buying an additional 1,082,245 shares during the period. Massachusetts Financial Services Co. MA bought a new position in shares of New Relic during the first quarter valued at approximately $18,611,000. Jennison Associates LLC bought a new position in shares of New Relic during the first quarter valued at approximately $16,703,000. Hunt Lane Capital LP bought a new position in shares of New Relic during the second quarter valued at approximately $18,752,000. Finally, Bank of New York Mellon Corp raised its position in shares of New Relic by 66.4% in the first quarter. Bank of New York Mellon Corp now owns 1,051,025 shares of the software maker’s stock valued at $38,961,000 after buying an additional 419,316 shares during the period. Institutional investors own 71.79% of the company’s stock.

NEWR has been the subject of several analyst reports. Morgan Stanley downgraded shares of New Relic from an “overweight” rating to an “equal weight” rating and raised their price target for the company from $45.00 to $48.00 in a research note on Thursday, July 20th. They noted that the move was a valuation call. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and set a $46.00 price target (up previously from $40.00) on shares of New Relic in a research note on Friday, May 12th. CIBC raised their price target on shares of New Relic from $40.00 to $46.00 and gave the company an “outperform” rating in a research note on Monday, May 15th. Stephens initiated coverage on shares of New Relic in a research note on Thursday, May 25th. They set an “overweight” rating and a $55.00 price target for the company. Finally, Zacks Investment Research downgraded shares of New Relic from a “buy” rating to a “hold” rating in a research note on Tuesday, May 16th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. New Relic currently has a consensus rating of “Buy” and an average target price of $47.36.

About New Relic

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.

Insider Buying and Selling by Quarter for New Relic (NYSE:NEWR)

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