Mark Sachleben Sells 7,500 Shares of New Relic (NEWR) Stock

New Relic (NYSE:NEWR) CFO Mark Sachleben sold 7,500 shares of New Relic stock in a transaction that occurred on Thursday, April 5th. The stock was sold at an average price of $75.62, for a total value of $567,150.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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

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  • On Monday, March 19th, Mark Sachleben sold 7,500 shares of New Relic stock. The shares were sold at an average price of $75.51, for a total value of $566,325.00.
  • On Friday, March 16th, Mark Sachleben sold 763 shares of New Relic stock. The shares were sold at an average price of $75.90, for a total value of $57,911.70.
  • On Monday, March 12th, Mark Sachleben sold 10,000 shares of New Relic stock. The shares were sold at an average price of $74.80, for a total value of $748,000.00.
  • On Thursday, March 8th, Mark Sachleben sold 7,500 shares of New Relic stock. The shares were sold at an average price of $75.37, for a total value of $565,275.00.
  • On Tuesday, February 20th, Mark Sachleben sold 11,627 shares of New Relic stock. The shares were sold at an average price of $66.97, for a total value of $778,660.19.
  • On Monday, February 12th, Mark Sachleben sold 10,000 shares of New Relic stock. The shares were sold at an average price of $64.71, for a total value of $647,100.00.
  • On Thursday, February 8th, Mark Sachleben sold 5,000 shares of New Relic stock. The shares were sold at an average price of $64.58, for a total value of $322,900.00.
  • 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 value of $289,300.00.
  • On Friday, January 12th, Mark Sachleben sold 10,000 shares of New Relic stock. The shares were sold at an average price of $59.12, for a total value of $591,200.00.

NYSE:NEWR opened at $73.84 on Friday. New Relic has a 12-month low of $37.31 and a 12-month high of $79.08. The company has a market cap of $4,160.32, a P/E ratio of -68.67 and a beta of 0.64.

New Relic (NYSE:NEWR) last released its quarterly earnings data on Tuesday, February 6th. The software maker reported $0.05 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.07) by $0.12. New Relic had a negative return on equity of 25.22% and a negative net margin of 16.17%. The business had revenue of $91.83 million during the quarter, compared to analyst estimates of $89.31 million. During the same quarter in the previous year, the firm posted ($0.09) EPS. The business’s revenue for the quarter was up 34.8% compared to the same quarter last year. equities analysts forecast that New Relic will post -0.77 earnings per share for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in NEWR. First Trust Advisors LP boosted its position in New Relic by 2,139.1% during the 4th quarter. First Trust Advisors LP now owns 1,264,352 shares of the software maker’s stock valued at $73,042,000 after purchasing an additional 1,207,885 shares during the period. BlackRock Inc. boosted its position in New Relic by 4.4% during the 4th quarter. BlackRock Inc. now owns 2,215,858 shares of the software maker’s stock worth $128,010,000 after acquiring an additional 94,283 shares during the period. Wells Fargo & Company MN boosted its position in New Relic by 313.3% during the 3rd quarter. Wells Fargo & Company MN now owns 100,947 shares of the software maker’s stock worth $5,027,000 after acquiring an additional 76,521 shares during the period. Amundi Pioneer Asset Management Inc. acquired a new position in New Relic during the 4th quarter worth $4,246,000. Finally, TimesSquare Capital Management LLC boosted its position in New Relic by 10.1% during the 4th quarter. TimesSquare Capital Management LLC now owns 625,350 shares of the software maker’s stock worth $36,126,000 after acquiring an additional 57,310 shares during the period. Institutional investors and hedge funds own 75.77% of the company’s stock.

NEWR has been the subject of a number of research analyst reports. JPMorgan Chase downgraded New Relic from an “overweight” rating to a “neutral” rating and set a $62.00 price target for the company. in a report on Tuesday, December 12th. BMO Capital Markets initiated coverage on New Relic in a report on Friday, January 12th. They issued a “market perform” rating and a $68.00 price target for the company. Wedbush initiated coverage on New Relic in a report on Friday, February 23rd. They issued an “outperform” rating and a $86.00 price target for the company. Stephens boosted their price target on New Relic from $60.00 to $70.00 and gave the company an “overweight” rating in a report on Wednesday, February 7th. Finally, Zacks Investment Research downgraded New Relic from a “buy” rating to a “hold” rating in a report on Friday, March 9th. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. New Relic currently has an average rating of “Buy” and an average price target of $66.57.

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New Relic Company Profile

New Relic, Inc, a software-as-a-service company, provides digital intelligence products worldwide. The company's cloud-based platform and suite of products include New Relic Digital Intelligence Platform, which enables organizations to collect, store, and analyze data. It provides New Relic Application Performance Management that offers visibility into the performance and usage of server-based applications, such as data pertaining to response time, transaction throughput, error rates, transactions, and user satisfaction; New Relic Mobile, which provides code-level visibility into the performance of mobile applications running on the iOS and Android mobile operating systems; and New Relic Browser, a product that monitors the page view experiences of actual end-users for desktop and mobile browser-based applications.

Insider Buying and Selling by Quarter for New Relic (NYSE:NEWR)

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