Insider Selling: New Relic Inc (NEWR) VP Sells 2,318 Shares of Stock

New Relic Inc (NYSE:NEWR) VP Robin Schulman sold 2,318 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $62.81, for a total value of $145,593.58. Following the sale, the vice president now directly owns 2,895 shares of the company’s stock, valued at $181,834.95. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Robin Schulman also recently made the following trade(s):

  • On Monday, January 29th, Robin Schulman sold 1 shares of New Relic stock. The stock was sold at an average price of $62.81, for a total value of $62.81.
  • On Wednesday, December 20th, Robin Schulman sold 372 shares of New Relic stock. The shares were sold at an average price of $59.30, for a total value of $22,059.60.
  • On Friday, December 15th, Robin Schulman sold 1,575 shares of New Relic stock. The shares were sold at an average price of $58.90, for a total value of $92,767.50.
  • On Monday, December 18th, Robin Schulman sold 1,991 shares of New Relic stock. The shares were sold at an average price of $58.97, for a total value of $117,409.27.
  • On Monday, November 20th, Robin Schulman sold 1,144 shares of New Relic stock. The shares were sold at an average price of $55.13, for a total value of $63,068.72.
  • On Thursday, November 16th, Robin Schulman sold 1,797 shares of New Relic stock. The shares were sold at an average price of $54.44, for a total value of $97,828.68.

Shares of New Relic Inc (NYSE:NEWR) traded up $5.33 during midday trading on Wednesday, reaching $64.63. The company’s stock had a trading volume of 1,074,439 shares, compared to its average volume of 368,821. The company has a market cap of $3,560.00, a P/E ratio of -58.23 and a beta of 0.98. New Relic Inc has a 52 week low of $33.10 and a 52 week high of $66.10.

New Relic (NYSE:NEWR) last issued its quarterly earnings results on Monday, February 5th. The software maker reported $0.05 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.07) by $0.12. The company had revenue of $91.83 million for the quarter, compared to the consensus estimate of $89.31 million. New Relic had a negative return on equity of 29.19% and a negative net margin of 19.43%. The company’s revenue for the quarter was up 34.8% on a year-over-year basis. During the same period in the previous year, the business posted ($0.09) EPS. sell-side analysts forecast that New Relic Inc will post -0.98 earnings per share for the current year.

NEWR has been the topic of a number of recent analyst reports. JMP Securities raised their price objective on New Relic from $54.00 to $56.00 and gave the company a “market outperform” rating in a research note on Wednesday, November 8th. Needham & Company LLC initiated coverage on New Relic in a research note on Monday, October 23rd. They issued a “buy” rating and a $69.00 price objective on the stock. Robert W. Baird raised their price objective on New Relic from $65.00 to $68.00 and gave the company an “outperform” rating in a research note on Wednesday. Morgan Stanley raised their price objective on New Relic from $48.00 to $52.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 8th. Finally, Stephens reissued a “buy” rating and issued a $70.00 price objective (up from $60.00) on shares of New Relic in a research note on Wednesday. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. New Relic has an average rating of “Buy” and a consensus price target of $58.86.

A number of hedge funds and other institutional investors have recently modified their holdings of NEWR. Ameritas Investment Partners Inc. increased its position in New Relic by 50.4% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,573 shares of the software maker’s stock worth $111,000 after buying an additional 862 shares during the period. Crow Point Partners LLC bought a new position in New Relic in the 4th quarter worth approximately $113,000. Cipher Capital LP bought a new position in New Relic in the 3rd quarter worth approximately $212,000. Woodstock Corp bought a new position in New Relic in the 4th quarter worth approximately $212,000. Finally, Prudential Financial Inc. bought a new position in New Relic in the 3rd quarter worth approximately $269,000. 75.84% of the stock is currently owned by institutional investors.

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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.

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

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