Insider Selling: New Relic Inc (NYSE:NEWR) CFO Sells 10,000 Shares of Stock

New Relic Inc (NYSE:NEWR) CFO Mark Sachleben sold 10,000 shares of the stock in a transaction that occurred on Friday, January 12th. The shares were sold at an average price of $59.12, for a total transaction of $591,200.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Mark Sachleben also recently made the following trade(s):

  • On Monday, January 22nd, Mark Sachleben sold 5,000 shares of New Relic stock. The shares were sold at an average price of $57.86, for a total transaction of $289,300.00.
  • On Thursday, January 4th, Mark Sachleben sold 5,000 shares of New Relic stock. The shares were sold at an average price of $59.35, for a total transaction of $296,750.00.
  • On Wednesday, December 20th, Mark Sachleben sold 6,042 shares of New Relic stock. The shares were sold at an average price of $59.30, for a total transaction of $358,290.60.
  • On Monday, December 18th, Mark Sachleben sold 1,161 shares of New Relic stock. The shares were sold at an average price of $59.21, for a total transaction of $68,742.81.
  • On Monday, December 11th, Mark Sachleben sold 10,000 shares of New Relic stock. The shares were sold at an average price of $59.07, for a total transaction of $590,700.00.
  • On Thursday, December 7th, Mark Sachleben sold 5,000 shares of New Relic stock. The shares were sold at an average price of $56.35, for a total transaction of $281,750.00.
  • On Monday, November 27th, Mark Sachleben sold 5,000 shares of New Relic stock. The shares were sold at an average price of $59.04, for a total transaction of $295,200.00.
  • On Monday, November 20th, Mark Sachleben sold 1,645 shares of New Relic stock. The shares were sold at an average price of $55.13, for a total transaction of $90,688.85.
  • On Thursday, November 16th, Mark Sachleben sold 2,238 shares of New Relic stock. The shares were sold at an average price of $55.53, for a total transaction of $124,276.14.
  • On Monday, November 13th, Mark Sachleben sold 10,000 shares of New Relic stock. The shares were sold at an average price of $52.55, for a total transaction of $525,500.00.

New Relic Inc (NYSE:NEWR) opened at $59.31 on Friday. New Relic Inc has a twelve month low of $33.10 and a twelve month high of $62.81.

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

Several hedge funds and other institutional investors have recently modified their holdings of the company. TimesSquare Capital Management LLC lifted its position in shares of New Relic by 657.4% during the third 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 position in shares of New Relic during the third quarter valued at about $23,221,000. Hunt Lane Capital LP bought a new position in shares of New Relic during the second quarter valued at about $18,752,000. Paulson & CO. Inc. bought a new position in shares of New Relic during the second quarter valued at about $15,195,000. Finally, Goldman Sachs Group Inc. lifted its position in shares of New Relic by 1,352.1% during the second 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. Hedge funds and other institutional investors own 76.25% of the company’s stock.

NEWR has been the subject of a number of analyst reports. Needham & Company LLC initiated coverage on shares of New Relic in a research note on Monday, October 23rd. They set a “buy” rating and a $69.00 target price for the company. Morgan Stanley lifted 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 note on Wednesday, November 8th. BidaskClub downgraded shares of New Relic from a “buy” rating to a “hold” rating in a research note on Tuesday, November 7th. JMP Securities lifted their target price on shares of New Relic from $54.00 to $56.00 and gave the stock a “market outperform” rating in a research note on Wednesday, November 8th. Finally, BMO Capital Markets initiated coverage on shares of New Relic in a research note on Friday, January 12th. They set a “market perform” rating and a $68.00 target price for the company. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price 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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