Robin Schulman Sells 372 Shares of New Relic Inc (NYSE:NEWR) Stock

New Relic Inc (NYSE:NEWR) VP Robin Schulman sold 372 shares of the business’s stock in a transaction that occurred on Wednesday, December 20th. The shares were sold at an average price of $59.30, for a total transaction of $22,059.60. Following the transaction, the vice president now directly owns 577 shares in the company, valued at $34,216.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

  • 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, 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 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 shares were sold at an average price of $49.89, for a total transaction of $22,201.05.

New Relic Inc (NYSE:NEWR) traded up $1.05 during trading on Friday, reaching $60.39. 286,631 shares of the company’s stock were exchanged, compared to its average volume of 453,649. The firm has a market cap of $3,267.40, a P/E ratio of -53.92 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 announced its quarterly earnings results 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 for the quarter, compared to the consensus estimate 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 for the quarter was up 33.5% on a year-over-year basis. During the same period last year, the company posted ($0.09) EPS. analysts forecast that New Relic Inc will post -0.98 earnings per share for the current year.

Several large investors have recently made changes to their positions in the stock. Crow Point Partners LLC bought a new position in shares of New Relic during the 4th quarter worth approximately $113,000. Ameritas Investment Partners Inc. grew its stake in shares of New Relic by 50.4% in the second quarter. Ameritas Investment Partners Inc. now owns 2,573 shares of the software maker’s stock valued at $111,000 after buying an additional 862 shares in the last quarter. ETF Managers Group LLC bought a new position in shares of New Relic in the second quarter valued at $118,000. BNP Paribas Arbitrage SA grew its stake in shares of New Relic by 507.2% in the second quarter. BNP Paribas Arbitrage SA now owns 3,813 shares of the software maker’s stock valued at $164,000 after buying an additional 3,185 shares in the last quarter. Finally, Cipher Capital LP bought a new position in shares of New Relic in the third quarter valued at $212,000. Institutional investors and hedge funds own 76.45% of the company’s stock.

A number of analysts have recently weighed in on NEWR shares. Needham & Company LLC started coverage on shares of New Relic in a research note on Monday, October 23rd. They issued a “buy” rating and a $69.00 price objective for the company. Zacks Investment Research lowered shares of New Relic from a “buy” rating to a “hold” rating in a 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 on the stock. in a report on Tuesday, December 12th. BidaskClub lowered shares of New Relic from a “buy” rating to a “hold” rating in a report on Tuesday, November 7th. Finally, Morgan Stanley upped their target price on shares of New Relic from $48.00 to $52.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 8th. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $55.21.

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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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