Mark Sachleben Sells 5,000 Shares of New Relic Inc (NEWR) Stock

New Relic Inc (NYSE:NEWR) CFO Mark Sachleben sold 5,000 shares of the business’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $64.58, for a total transaction of $322,900.00. The sale was disclosed in a document filed with the SEC, which is available at this link.

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

  • On Monday, January 22nd, Mark Sachleben sold 5,000 shares of New Relic stock. The shares were sold at an average price of $57.86, for a total transaction of $289,300.00.
  • On Friday, January 12th, Mark Sachleben sold 10,000 shares of New Relic stock. The shares were sold at an average price of $59.12, for a total transaction of $591,200.00.
  • On Thursday, January 4th, Mark Sachleben sold 5,000 shares of New Relic stock. The shares were sold at an average price of $59.35, for a total transaction of $296,750.00.
  • On Wednesday, December 20th, Mark Sachleben sold 6,042 shares of New Relic stock. The shares were sold at an average price of $59.30, for a total transaction of $358,290.60.
  • On Monday, December 18th, Mark Sachleben sold 1,161 shares of New Relic stock. The shares were sold at an average price of $59.21, for a total transaction of $68,742.81.
  • On Monday, December 11th, Mark Sachleben sold 10,000 shares of New Relic stock. The shares were sold at an average price of $59.07, for a total transaction of $590,700.00.
  • On Thursday, December 7th, Mark Sachleben sold 5,000 shares of New Relic stock. The shares were sold at an average price of $56.35, for a total transaction of $281,750.00.
  • On Monday, November 27th, Mark Sachleben sold 5,000 shares of New Relic stock. The shares were sold at an average price of $59.04, for a total transaction of $295,200.00.
  • On Monday, November 20th, Mark Sachleben sold 1,645 shares of New Relic stock. The shares were sold at an average price of $55.13, for a total transaction of $90,688.85.
  • On Thursday, November 16th, Mark Sachleben sold 2,238 shares of New Relic stock. The shares were sold at an average price of $55.53, for a total transaction of $124,276.14.

Shares of New Relic Inc (NYSE:NEWR) traded down $1.63 during trading hours on Thursday, hitting $63.00. 1,077,924 shares of the stock were exchanged, compared to its average volume of 450,850. New Relic Inc has a 1-year low of $33.10 and a 1-year high of $66.10. The stock has a market capitalization of $3,265.20, a PE ratio of -63.64 and a beta of 0.98.

New Relic (NYSE:NEWR) last announced its earnings results on Tuesday, February 6th. The software maker reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.12. New Relic had a negative net margin of 16.17% and a negative return on equity of 25.55%. The business had revenue of $91.83 million during the quarter, compared to analysts’ expectations of $89.31 million. During the same period in the prior year, the company earned ($0.09) earnings per share. The business’s revenue was up 34.8% compared to the same quarter last year. analysts anticipate that New Relic Inc will post -0.98 earnings per share for the current year.

Several equities analysts have issued reports on the stock. JPMorgan Chase & Co. downgraded shares of New Relic from an “overweight” rating to a “neutral” rating and set a $62.00 price objective for the company. in a research note on Tuesday, December 12th. KeyCorp restated an “overweight” rating and issued a $57.00 price objective (up previously from $52.00) on shares of New Relic in a research note on Wednesday, November 8th. Needham & Company LLC upped their price objective on shares of New Relic from $69.00 to $73.00 and gave the company a “buy” rating in a research note on Wednesday. Oppenheimer upped their price objective on shares of New Relic from $57.00 to $66.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, BMO Capital Markets started coverage on shares of New Relic in a research note on Friday, January 12th. They issued a “market perform” rating and a $68.00 price objective for the company. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $58.86.

Several large investors have recently made changes to their positions in NEWR. First Trust Advisors LP raised its holdings in shares of New Relic by 2,139.1% in the fourth quarter. First Trust Advisors LP now owns 1,264,352 shares of the software maker’s stock valued at $73,042,000 after buying an additional 1,207,885 shares during the last quarter. TimesSquare Capital Management LLC raised its holdings in shares of New Relic by 657.4% in the third quarter. TimesSquare Capital Management LLC now owns 568,040 shares of the software maker’s stock valued at $28,288,000 after buying an additional 493,040 shares during the last quarter. Westfield Capital Management Co. LP purchased a new position in New Relic during the third quarter worth about $23,221,000. Paulson & CO. Inc. purchased a new position in New Relic during the second quarter worth about $15,195,000. Finally, Goldman Sachs Group Inc. raised its holdings in New Relic by 1,352.1% during the second quarter. Goldman Sachs Group Inc. now owns 277,901 shares of the software maker’s stock worth $11,953,000 after purchasing an additional 258,763 shares in the last quarter. 75.84% of the stock is owned by institutional investors and hedge funds.

ILLEGAL ACTIVITY NOTICE: “Mark Sachleben Sells 5,000 Shares of New Relic Inc (NEWR) Stock” was first posted by American Banking News and is the property of of American Banking News. If you are viewing this report on another publication, it was stolen and reposted in violation of international trademark & copyright law. The correct version of this report can be read at https://www.americanbankingnews.com/2018/02/08/mark-sachleben-sells-5000-shares-of-new-relic-inc-newr-stock.html.

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)

Receive News & Ratings for New Relic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for New Relic and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply