New Relic Inc (NEWR) CEO Sells $78,000.00 in Stock

New Relic Inc (NYSE:NEWR) CEO Lewis Cirne sold 1,200 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $65.00, for a total transaction of $78,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

  • On Friday, February 9th, Lewis Cirne sold 78,600 shares of New Relic stock. The shares were sold at an average price of $63.81, for a total transaction of $5,015,466.00.
  • On Wednesday, February 7th, Lewis Cirne sold 25,000 shares of New Relic stock. The shares were sold at an average price of $62.73, for a total transaction of $1,568,250.00.
  • On Monday, January 8th, Lewis Cirne sold 25,000 shares of New Relic stock. The shares were sold at an average price of $58.83, for a total transaction of $1,470,750.00.
  • On Thursday, December 7th, Lewis Cirne sold 33,000 shares of New Relic stock. The shares were sold at an average price of $56.63, for a total transaction of $1,868,790.00.

New Relic Inc (NYSE NEWR) traded up $2.62 during mid-day trading on Tuesday, reaching $66.53. 596,550 shares of the company’s stock were exchanged, compared to its average volume of 461,973. New Relic Inc has a 12 month low of $33.10 and a 12 month high of $66.67. The stock has a market cap of $3,660.00, a P/E ratio of -67.20 and a beta of 0.98.

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

A number of research firms have issued reports on NEWR. Robert W. Baird increased their target price on shares of New Relic from $65.00 to $68.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 7th. JMP Securities increased their target price on shares of New Relic from $54.00 to $56.00 and gave the stock a “market outperform” rating in a research report on Wednesday, November 8th. BMO Capital Markets increased their target price on shares of New Relic from $68.00 to $71.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 7th. Needham & Company LLC increased their target price on shares of New Relic from $69.00 to $73.00 and gave the stock a “buy” rating in a research report on Wednesday, February 7th. Finally, Oppenheimer increased their target price on shares of New Relic from $57.00 to $66.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 7th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $60.00.

Institutional investors have recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. raised its holdings in shares of 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 purchasing an additional 862 shares in the last quarter. Crow Point Partners LLC bought a new position in shares of New Relic during the 4th quarter valued at $113,000. Cipher Capital LP bought a new position in shares of New Relic during the 3rd quarter valued at $212,000. Woodstock Corp bought a new position in shares of New Relic during the 4th quarter valued at $212,000. Finally, Amalgamated Bank bought a new position in shares of New Relic during the 4th quarter valued at $240,000. Institutional investors and hedge funds own 75.49% of the company’s stock.

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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)

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