New Relic Inc (NYSE:NEWR) insider James R. Gochee sold 4,000 shares of the company’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $95.50, for a total transaction of $382,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Shares of NYSE NEWR traded up $1.16 during mid-day trading on Wednesday, reaching $96.46. The company had a trading volume of 976,584 shares, compared to its average volume of 814,612. The company has a debt-to-equity ratio of 1.16, a current ratio of 2.90 and a quick ratio of 2.90. The firm has a market capitalization of $5.74 billion, a price-to-earnings ratio of -311.16 and a beta of 1.02. New Relic Inc has a 12-month low of $70.30 and a 12-month high of $114.78.
New Relic (NYSE:NEWR) last posted its quarterly earnings results on Tuesday, May 14th. The software maker reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.07. The business had revenue of $132.10 million during the quarter, compared to analyst estimates of $128.19 million. New Relic had a negative net margin of 8.53% and a negative return on equity of 6.57%. The firm’s revenue was up 34.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.09 earnings per share. On average, analysts predict that New Relic Inc will post -0.56 EPS for the current year.
A number of large investors have recently added to or reduced their stakes in the stock. Marshall Wace North America L.P. acquired a new position in New Relic in the first quarter worth approximately $2,150,000. Clearbridge Investments LLC increased its holdings in New Relic by 1.6% in the first quarter. Clearbridge Investments LLC now owns 1,495,239 shares of the software maker’s stock worth $147,580,000 after buying an additional 23,079 shares during the last quarter. Nordea Investment Management AB increased its holdings in New Relic by 1.9% in the first quarter. Nordea Investment Management AB now owns 55,236 shares of the software maker’s stock worth $5,451,000 after buying an additional 1,051 shares during the last quarter. Ashford Capital Management Inc. increased its holdings in New Relic by 53.3% in the first quarter. Ashford Capital Management Inc. now owns 123,680 shares of the software maker’s stock worth $12,207,000 after buying an additional 43,000 shares during the last quarter. Finally, BlueCrest Capital Management Ltd increased its holdings in New Relic by 11.7% in the first quarter. BlueCrest Capital Management Ltd now owns 3,128 shares of the software maker’s stock worth $309,000 after buying an additional 328 shares during the last quarter. Hedge funds and other institutional investors own 79.55% of the company’s stock.
NEWR has been the subject of a number of analyst reports. Goldman Sachs Group initiated coverage on shares of New Relic in a research note on Friday, June 7th. They set a “sell” rating and a $83.00 price objective for the company. Wedbush reissued an “outperform” rating and issued a $124.00 price target on shares of New Relic in a research report on Thursday, April 18th. Needham & Company LLC reissued a “buy” rating and issued a $131.00 price target (up from $129.00) on shares of New Relic in a research report on Wednesday, May 15th. ValuEngine lowered shares of New Relic from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, Zacks Investment Research raised shares of New Relic from a “hold” rating to a “strong-buy” rating and set a $119.00 price target for the company in a research report on Tuesday, February 12th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $115.17.
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About New Relic
New Relic, Inc, a software-as-a-service company, provides various digital products worldwide. Its cloud-based platform and suite of products include New Relic Platform, which enable organizations to collect, store, and analyze data. The company offers New Relic Application Performance Management that provides visibility into the performance and usage of server-based applications, such as data pertaining to response time, transaction throughput, error rates, top transactions, and user satisfaction; New Relic Mobile, which provides code-level visibility into the performance and health of mobile applications running on the iOS and Android mobile operating systems; and New Relic Browser that monitors the page view experiences of actual end-users for desktop and mobile browser-based applications.
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