Insider Selling: New Relic Inc (NYSE:NEWR) VP Sells 1,991 Shares of Stock

New Relic Inc (NYSE:NEWR) VP Robin Schulman sold 1,991 shares of the company’s stock in a transaction on Monday, December 18th. The shares were sold at an average price of $58.97, for a total transaction of $117,409.27. Following the completion of the sale, the vice president now directly owns 1,365 shares of the company’s stock, valued at approximately $80,494.05. The sale was disclosed in a filing with the SEC, which is accessible through 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 Friday, December 15th, Robin Schulman sold 1,575 shares of New Relic stock. The shares were sold at an average price of $58.90, for a total transaction of $92,767.50.
  • 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 shares were 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 shares were 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 (NYSE:NEWR) traded up $1.14 during trading on Thursday, hitting $59.34. 323,686 shares of the company traded hands, compared to its average volume of 394,511. The company has a market cap of $3,270.00, a price-to-earnings ratio of -53.46 and a beta of 1.03. New Relic Inc has a 52 week low of $30.01 and a 52 week high of $60.85.

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

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

A number of large investors have recently added to or reduced their stakes in NEWR. TimesSquare Capital Management LLC increased its stake in New Relic by 657.4% during the 3rd 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 bought a new stake in New Relic during the 3rd quarter valued at about $23,221,000. Hunt Lane Capital LP bought a new stake in New Relic during the 2nd quarter valued at about $18,752,000. Paulson & CO. Inc. bought a new stake in New Relic during the 2nd quarter valued at about $15,195,000. Finally, Goldman Sachs Group Inc. increased its stake in New Relic by 1,352.1% during the 2nd 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. Institutional investors and hedge funds own 76.45% of the company’s stock.

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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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