New Relic Inc (NYSE:NEWR) Insider James R. Gochee Sells 428 Shares

New Relic Inc (NYSE:NEWR) insider James R. Gochee sold 428 shares of the business’s stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $59.10, for a total value of $25,294.80. Following the completion of the sale, the insider now directly owns 337,904 shares of the company’s stock, valued at $19,970,126.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Shares of New Relic Inc (NEWR) opened at $60.39 on Friday. New Relic Inc has a fifty-two week low of $30.01 and a fifty-two week high of $60.85. The stock has a market cap of $3,267.40, a PE ratio of -53.92 and a beta of 1.03.

New Relic (NYSE:NEWR) last released its quarterly earnings results on Tuesday, November 7th. The software maker reported ($0.06) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate 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 analysts’ expectations of $82.98 million. During the same period in the prior year, the company earned ($0.09) earnings per share. The business’s quarterly revenue was up 33.5% compared to the same quarter last year. equities analysts forecast that New Relic Inc will post -0.98 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Russell Investments Group Ltd. grew its stake in shares of New Relic by 185.1% during the second quarter. Russell Investments Group Ltd. now owns 66,836 shares of the software maker’s stock valued at $2,873,000 after purchasing an additional 43,389 shares during the last quarter. Schwab Charles Investment Management Inc. grew its stake in shares of New Relic by 21.2% during the second quarter. Schwab Charles Investment Management Inc. now owns 131,923 shares of the software maker’s stock valued at $5,675,000 after purchasing an additional 23,082 shares during the last quarter. First Trust Advisors LP bought a new stake in shares of New Relic during the second quarter valued at approximately $1,594,000. Rhumbline Advisers grew its stake in shares of New Relic by 32.4% during the second quarter. Rhumbline Advisers now owns 33,054 shares of the software maker’s stock valued at $1,422,000 after purchasing an additional 8,092 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of New Relic by 24.4% during the second quarter. Bank of New York Mellon Corp now owns 1,307,282 shares of the software maker’s stock valued at $56,226,000 after purchasing an additional 256,257 shares during the last quarter. 76.45% of the stock is owned by institutional investors.

Several brokerages have recently issued reports on NEWR. JPMorgan Chase & Co. cut New Relic from an “overweight” rating to a “neutral” rating and set a $62.00 price target on the stock. in a report on Tuesday, December 12th. KeyCorp started coverage on shares of New Relic in a research note on Tuesday, September 19th. They set an “overweight” rating and a $52.00 target price on the stock. BMO Capital Markets assumed coverage on shares of New Relic in a research note on Friday. They set a “market perform” rating and a $68.00 target price on the stock. BidaskClub downgraded shares of New Relic from a “buy” rating to a “hold” rating in a research note on Tuesday, November 7th. Finally, UBS Group assumed coverage on shares of New Relic in a research note on Thursday, November 9th. They issued a “neutral” rating and a $53.00 price target on the stock. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average 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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