Insider Selling: New Relic Inc (NEWR) VP Sells 1,575 Shares of Stock

New Relic Inc (NYSE:NEWR) VP Robin Schulman sold 1,575 shares of the business’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $58.90, for a total transaction of $92,767.50. Following the transaction, the vice president now directly owns 1,365 shares in the company, valued at $80,398.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Robin Schulman also recently made the following trade(s):

  • On Wednesday, December 20th, Robin Schulman sold 372 shares of New Relic stock. The shares were sold at an average price of $59.30, for a total transaction of $22,059.60.
  • On Monday, December 18th, Robin Schulman sold 1,991 shares of New Relic stock. The shares were sold at an average price of $58.97, for a total transaction of $117,409.27.
  • On Monday, November 20th, Robin Schulman sold 1,144 shares of New Relic stock. The shares were sold at an average price of $55.13, for a total transaction of $63,068.72.
  • On Thursday, November 16th, Robin Schulman sold 1,797 shares of New Relic stock. The stock was sold at an average price of $54.44, for a total transaction of $97,828.68.
  • On Friday, October 6th, Robin Schulman sold 1,109 shares of New Relic stock. The stock was sold at an average price of $51.33, for a total transaction of $56,924.97.
  • On Monday, October 2nd, Robin Schulman sold 445 shares of New Relic stock. The stock was sold at an average price of $49.89, for a total transaction of $22,201.05.
  • On Wednesday, September 20th, Robin Schulman sold 488 shares of New Relic stock. The stock was sold at an average price of $48.59, for a total transaction of $23,711.92.

Shares of New Relic Inc (NEWR) opened at $58.20 on Thursday. New Relic Inc has a 52 week low of $30.01 and a 52 week high of $60.85. The company has a market cap of $3,200.00, a PE ratio of -52.43 and a beta of 1.03.

New Relic (NYSE:NEWR) last posted its quarterly earnings data on Tuesday, November 7th. The software maker reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.04. New Relic had a negative net margin of 19.43% and a negative return on equity of 29.19%. The company had revenue of $84.68 million during the quarter, compared to analyst estimates of $82.98 million. During the same period in the prior year, the firm earned ($0.09) earnings per share. The business’s quarterly revenue was up 33.5% on a year-over-year basis. sell-side analysts predict that New Relic Inc will post -0.98 EPS for the current fiscal year.

A number of hedge funds have recently bought and sold shares of NEWR. Essex Investment Management Co. LLC lifted its position in shares of New Relic by 11.4% in the third quarter. Essex Investment Management Co. LLC now owns 10,031 shares of the software maker’s stock worth $500,000 after purchasing an additional 1,025 shares in the last quarter. Voya Investment Management LLC lifted its position in shares of New Relic by 58.2% in the second quarter. Voya Investment Management LLC now owns 13,072 shares of the software maker’s stock worth $562,000 after purchasing an additional 4,807 shares in the last quarter. AXA increased its holdings in New Relic by 9.0% in the second quarter. AXA now owns 158,000 shares of the software maker’s stock worth $6,796,000 after buying an additional 13,000 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in New Relic by 31.3% in the second quarter. JPMorgan Chase & Co. now owns 94,229 shares of the software maker’s stock worth $4,052,000 after buying an additional 22,460 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new position in New Relic in the second quarter worth approximately $1,734,000. 76.45% of the stock is owned by institutional investors.

Several equities analysts have recently commented on NEWR shares. Needham & Company LLC initiated coverage on shares of New Relic in a research report on Monday, October 23rd. They set a “buy” rating and a $69.00 price target for the company. Zacks Investment Research lowered shares of New Relic from a “buy” rating to a “hold” rating in a research report on Thursday, October 5th. JPMorgan Chase & Co. lowered shares of New Relic from an “overweight” rating to a “neutral” rating and set a $62.00 target price for the company. in a research report on Tuesday, December 12th. BidaskClub lowered shares of New Relic from a “buy” rating to a “hold” rating in a research report on Tuesday, November 7th. Finally, Morgan Stanley increased their target price on shares of New Relic from $48.00 to $52.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 8th. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $54.23.

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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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