New Relic, Inc. (NEWR) CEO Lewis Cirne Sells 33,000 Shares
New Relic, Inc. (NYSE:NEWR) CEO Lewis Cirne sold 33,000 shares of the stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $48.43, for a total value of $1,598,190.00. The sale was disclosed in a document filed with the SEC, which is available through this link.
Lewis Cirne also recently made the following trade(s):
- On Monday, August 7th, Lewis Cirne sold 33,000 shares of New Relic stock. The shares were sold at an average price of $46.12, for a total value of $1,521,960.00.
- On Monday, July 10th, Lewis Cirne sold 33,000 shares of New Relic stock. The shares were sold at an average price of $44.53, for a total value of $1,469,490.00.
New Relic, Inc. (NYSE:NEWR) traded up 0.66% on Thursday, reaching $48.66. The company’s stock had a trading volume of 326,836 shares. The firm has a 50 day moving average price of $46.96 and a 200 day moving average price of $42.23. The stock’s market capitalization is $2.65 billion. New Relic, Inc. has a 52 week low of $27.85 and a 52 week high of $49.39.
New Relic (NYSE:NEWR) last announced its quarterly earnings data on Thursday, August 3rd. The software maker reported ($0.09) earnings per share (EPS) for the quarter, beating 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 29.19%. The company had revenue of $80.10 million during the quarter, compared to analysts’ expectations of $78.09 million. During the same period in the previous year, the company earned ($0.20) EPS. The business’s quarterly revenue was up 36.7% compared to the same quarter last year. On average, equities analysts anticipate that New Relic, Inc. will post ($0.25) EPS for the current year.
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Hedge funds and other institutional investors have recently made changes to their positions in the company. Ameritas Investment Partners Inc. grew its stake in shares of New Relic by 50.4% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,573 shares of the software maker’s stock valued at $111,000 after buying an additional 862 shares during the period. ETF Managers Group LLC purchased a new stake in shares of New Relic during the 2nd quarter valued at $118,000. Botty Investors LLC grew its stake in shares of New Relic by 23.5% during the 2nd quarter. Botty Investors LLC now owns 2,809 shares of the software maker’s stock valued at $121,000 after buying an additional 535 shares during the period. BNP Paribas Arbitrage SA grew its stake in shares of New Relic by 507.2% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 3,813 shares of the software maker’s stock valued at $164,000 after buying an additional 3,185 shares during the period. Finally, BT Investment Management Ltd purchased a new stake in shares of New Relic during the 2nd quarter valued at $186,000. 74.78% of the stock is owned by institutional investors.
A number of equities research analysts have recently issued reports on the company. Morgan Stanley lowered New Relic from an “overweight” rating to an “equal weight” rating and upped their price target for the company from $45.00 to $48.00 in a research report on Thursday, July 20th. They noted that the move was a valuation call. BidaskClub upgraded New Relic from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 24th. UBS AG upped their price target on New Relic from $42.00 to $47.00 and gave the company a “neutral” rating in a research report on Friday, August 4th. First Analysis lowered New Relic from an “overweight” rating to an “equal weight” rating and set a $50.00 price target for the company. in a research report on Friday, August 4th. Finally, Zacks Investment Research lowered New Relic from a “buy” rating to a “hold” rating in a research report on Tuesday, May 16th. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. New Relic currently has a consensus rating of “Buy” and a consensus target price of $47.36.
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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