New Relic Sees Unusually High Options Volume (NEWR)

New Relic Inc (NYSE:NEWR) was the recipient of some unusual options trading activity on Thursday. Investors bought 900 call options on the company. This is an increase of approximately 1,507% compared to the average daily volume of 56 call options.

Shares of New Relic (NYSE NEWR) opened at $64.38 on Friday. The stock has a market cap of $3,492.80, a PE ratio of -65.03 and a beta of 0.98. New Relic has a 12 month low of $33.10 and a 12 month high of $66.10.

New Relic (NYSE:NEWR) last announced its quarterly earnings data on Tuesday, February 6th. The software maker reported $0.05 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.07) by $0.12. New Relic had a negative net margin of 16.17% and a negative return on equity of 25.22%. The business had revenue of $91.83 million during the quarter, compared to the consensus estimate of $89.31 million. During the same quarter last year, the firm earned ($0.09) earnings per share. The firm’s quarterly revenue was up 34.8% compared to the same quarter last year. equities analysts anticipate that New Relic will post -0.98 earnings per share for the current fiscal year.

Several brokerages have issued reports on NEWR. Needham & Company LLC began coverage on shares of New Relic in a research note on Monday, October 23rd. They issued a “buy” rating and a $69.00 price objective for the company. BidaskClub downgraded shares of New Relic from a “buy” rating to a “hold” rating in a research note on Tuesday, November 7th. KeyCorp reissued 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. Morgan Stanley raised their price objective on shares of New Relic from $48.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 8th. Finally, JMP Securities raised their price objective on shares of New Relic from $54.00 to $56.00 and gave the stock a “market outperform” rating in a research note on Wednesday, November 8th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. New Relic presently has an average rating of “Buy” and a consensus price target of $60.00.

In related news, CFO Mark Sachleben sold 10,000 shares of the stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $52.55, for a total value of $525,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Robin Schulman sold 2,318 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $62.81, for a total transaction of $145,593.58. Following the completion of the transaction, the vice president now directly owns 2,895 shares of the company’s stock, valued at approximately $181,834.95. The disclosure for this sale can be found here. In the last ninety days, insiders sold 172,458 shares of company stock valued at $10,079,591. 23.10% of the stock is owned by insiders.

Several institutional investors have recently bought and sold shares of NEWR. First Trust Advisors LP raised its stake in shares of New Relic by 2,139.1% during 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 acquiring an additional 1,207,885 shares in the last quarter. TimesSquare Capital Management LLC raised its stake in shares of New Relic by 657.4% during the third quarter. TimesSquare Capital Management LLC now owns 568,040 shares of the software maker’s stock valued at $28,288,000 after acquiring an additional 493,040 shares in the last quarter. Westfield Capital Management Co. LP bought a new stake in shares of New Relic during the third quarter valued at approximately $23,221,000. Paulson & CO. Inc. bought a new stake in shares of New Relic during the second quarter valued at approximately $15,195,000. Finally, Goldman Sachs Group Inc. raised its stake in shares of 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 valued at $11,953,000 after acquiring an additional 258,763 shares in the last quarter. 75.84% of the stock is owned by hedge funds and other institutional investors.

ILLEGAL ACTIVITY NOTICE: This article was originally published by American Banking News and is the property of of American Banking News. If you are reading this article on another site, it was illegally stolen and republished in violation of U.S. and international trademark & copyright law. The legal version of this article can be viewed at https://www.americanbankingnews.com/2018/02/11/new-relic-sees-unusually-high-options-volume-newr.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.

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