Lewis Cirne Sells 78,600 Shares of New Relic Inc (NEWR) Stock

New Relic Inc (NYSE:NEWR) CEO Lewis Cirne sold 78,600 shares of the stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $63.81, for a total value of $5,015,466.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Lewis Cirne also recently made the following trade(s):

  • On Monday, February 12th, Lewis Cirne sold 1,200 shares of New Relic stock. The stock was sold at an average price of $65.00, for a total value of $78,000.00.
  • On Wednesday, February 7th, Lewis Cirne sold 25,000 shares of New Relic stock. The stock was sold at an average price of $62.73, for a total value of $1,568,250.00.
  • On Monday, January 8th, Lewis Cirne sold 25,000 shares of New Relic stock. The stock was sold at an average price of $58.83, for a total value of $1,470,750.00.
  • On Thursday, December 7th, Lewis Cirne sold 33,000 shares of New Relic stock. The stock was sold at an average price of $56.63, for a total value of $1,868,790.00.

New Relic Inc (NYSE:NEWR) traded up $2.62 during trading hours on Tuesday, reaching $66.53. The company’s stock had a trading volume of 596,550 shares, compared to its average volume of 461,973. New Relic Inc has a twelve month low of $33.10 and a twelve month high of $66.67. The stock has a market capitalization of $3,660.00, a P/E ratio of -67.20 and a beta of 0.98.

New Relic (NYSE:NEWR) last released its earnings results on Tuesday, February 6th. The software maker reported $0.05 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.07) by $0.12. New Relic had a negative return on equity of 25.22% and a negative net margin of 16.17%. The business had revenue of $91.83 million during the quarter, compared to the consensus estimate of $89.31 million. During the same period last year, the business posted ($0.09) earnings per share. The business’s revenue for the quarter was up 34.8% on a year-over-year basis. equities analysts forecast that New Relic Inc will post -0.81 earnings per share for the current fiscal year.

Several research analysts have issued reports on the company. Needham & Company LLC assumed coverage on New Relic in a report on Monday, October 23rd. They issued a “buy” rating and a $69.00 price target on the stock. JPMorgan Chase & Co. lowered New Relic from an “overweight” rating to a “neutral” rating and set a $62.00 price target on the stock. in a report on Tuesday, December 12th. BidaskClub lowered New Relic from a “buy” rating to a “hold” rating in a report on Tuesday, November 7th. BMO Capital Markets assumed coverage on New Relic in a report on Friday, January 12th. They set a “market perform” rating and a $68.00 price target on the stock. Finally, Morgan Stanley lifted their price target on New Relic from $48.00 to $52.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 8th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $60.00.

A number of large investors have recently added to or reduced their stakes in NEWR. First Trust Advisors LP increased its position in 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 worth $73,042,000 after buying an additional 1,207,885 shares during the last quarter. TimesSquare Capital Management LLC grew its position 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 purchasing an additional 493,040 shares in the last quarter. Westfield Capital Management Co. LP purchased a new position in shares of New Relic in the third quarter valued at $23,221,000. Paulson & CO. Inc. purchased a new position in shares of New Relic in the second quarter valued at $15,195,000. Finally, Goldman Sachs Group Inc. grew its position in shares of New Relic by 1,352.1% in the second quarter. Goldman Sachs Group Inc. now owns 277,901 shares of the software maker’s stock valued at $11,953,000 after purchasing an additional 258,763 shares in the last quarter. 75.49% of the stock is owned by institutional investors and hedge funds.

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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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