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 business’s stock in a transaction dated Friday, October 6th. The stock was sold at an average price of $50.72, for a total transaction of $1,673,760.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link.
Lewis Cirne also recently made the following trade(s):
- On Thursday, September 7th, Lewis Cirne sold 33,000 shares of New Relic stock. The stock was sold at an average price of $48.43, for a total transaction of $1,598,190.00.
- On Monday, August 7th, Lewis Cirne sold 33,000 shares of New Relic stock. The stock was sold at an average price of $46.12, for a total transaction of $1,521,960.00.
Shares of New Relic, Inc. (NEWR) traded down 1.29% during mid-day trading on Tuesday, reaching $50.67. 230,062 shares of the company traded hands. The stock’s 50-day moving average is $48.90 and its 200-day moving average is $44.48. The company’s market capitalization is $2.76 billion. New Relic, Inc. has a 52 week low of $27.85 and a 52 week high of $51.97.
New Relic (NYSE:NEWR) last posted its earnings results on Thursday, August 3rd. The software maker reported ($0.09) earnings per share 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 firm had revenue of $80.10 million during the quarter, compared to the consensus estimate of $78.09 million. During the same period last year, the firm posted ($0.20) EPS. The firm’s revenue for the quarter was up 36.7% on a year-over-year basis. On average, equities analysts predict that New Relic, Inc. will post ($0.25) EPS for the current fiscal year.
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Large investors have recently bought and sold shares of the business. Ameritas Investment Partners Inc. increased its holdings in 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 acquiring an additional 862 shares in the last quarter. ETF Managers Group LLC purchased a new position in New Relic during the 2nd quarter valued at about $118,000. Botty Investors LLC increased its holdings in 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 acquiring an additional 535 shares in the last quarter. BNP Paribas Arbitrage SA increased its holdings in 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 acquiring an additional 3,185 shares in the last quarter. Finally, BT Investment Management Ltd purchased a new position in New Relic during the 2nd quarter valued at about $186,000. Hedge funds and other institutional investors own 74.82% of the company’s stock.
A number of analysts have recently commented on the stock. KeyCorp assumed coverage on shares of New Relic in a research note on Tuesday, September 19th. They set an “overweight” rating and a $52.00 target price for the company. BidaskClub cut shares of New Relic from a “strong-buy” rating to a “buy” rating in a research note on Monday, September 18th. Robert W. Baird set a $55.00 target price on shares of New Relic and gave the stock a “buy” rating in a research note on Monday, September 11th. Oppenheimer Holdings, Inc. reissued a “buy” rating and set a $50.00 target price on shares of New Relic in a research note on Tuesday, September 19th. Finally, Morgan Stanley cut shares of New Relic from an “overweight” rating to an “equal weight” rating and boosted their target price for the stock from $45.00 to $48.00 in a research note on Thursday, July 20th. They noted that the move was a valuation call. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $50.17.
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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