Mark Sachleben Sells 10,000 Shares of New Relic (NEWR) Stock

New Relic (NYSE:NEWR) CFO Mark Sachleben sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, April 10th. The shares were sold at an average price of $74.87, for a total value of $748,700.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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

How to Become a New Pot Stock Millionaire
  • On Thursday, April 5th, Mark Sachleben sold 7,500 shares of New Relic stock. The shares were sold at an average price of $75.62, for a total value of $567,150.00.
  • 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 stock was sold at an average price of $64.58, for a total transaction of $322,900.00.
  • On Monday, January 22nd, Mark Sachleben sold 5,000 shares of New Relic stock. The stock was sold at an average price of $57.86, for a total transaction of $289,300.00.
  • On Friday, January 12th, Mark Sachleben sold 10,000 shares of New Relic stock. The stock was sold at an average price of $59.12, for a total transaction of $591,200.00.

Shares of NYSE NEWR opened at $74.98 on Friday. New Relic has a 52-week low of $37.31 and a 52-week high of $79.08. The stock has a market capitalization of $4,097.12, a price-to-earnings ratio of -68.16 and a beta of 0.64.

New Relic (NYSE:NEWR) last issued its earnings results on Tuesday, February 6th. The software maker reported $0.05 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.07) by $0.12. New Relic had a negative net margin of 16.17% and a negative return on equity of 25.22%. The firm had revenue of $91.83 million for the quarter, compared to analysts’ expectations of $89.31 million. During the same quarter last year, the company posted ($0.09) earnings per share. New Relic’s revenue was up 34.8% on a year-over-year basis. equities analysts expect that New Relic will post -0.77 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of NEWR. Nationwide Fund Advisors lifted its holdings in New Relic by 166.6% in the third quarter. Nationwide Fund Advisors now owns 44,321 shares of the software maker’s stock worth $2,207,000 after acquiring an additional 27,695 shares during the last quarter. Prudential Financial Inc. bought a new position in New Relic in the third quarter worth about $269,000. Principal Financial Group Inc. bought a new position in New Relic in the third quarter worth about $299,000. Sei Investments Co. bought a new position in New Relic in the third quarter worth about $482,000. Finally, New York State Common Retirement Fund lifted its holdings in New Relic by 17.9% in the third quarter. New York State Common Retirement Fund now owns 76,195 shares of the software maker’s stock worth $3,795,000 after acquiring an additional 11,590 shares during the last quarter. 75.77% of the stock is currently owned by hedge funds and other institutional investors.

Several equities analysts have recently commented on NEWR shares. BMO Capital Markets started coverage on shares of New Relic in a research report on Friday, January 12th. They set a “market perform” rating and a $68.00 price target on the stock. Wedbush started coverage on shares of New Relic in a research report on Friday, February 23rd. They set an “outperform” rating and a $86.00 price target on the stock. Stephens increased their price target on shares of New Relic from $60.00 to $70.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 7th. Zacks Investment Research raised shares of New Relic from a “hold” rating to a “buy” rating and set a $82.00 price target on the stock in a research report on Thursday, March 8th. Finally, KeyCorp increased their price target on shares of New Relic from $70.00 to $86.00 and gave the stock an “overweight” rating in a research report on Monday, March 19th. They noted that the move was a valuation call. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. New Relic currently has a consensus rating of “Buy” and an average price target of $66.57.

ILLEGAL ACTIVITY WARNING: This news story was reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are reading this news story on another publication, it was illegally stolen and reposted in violation of United States and international copyright law. The legal version of this news story can be read at https://www.dispatchtribunal.com/2018/04/13/mark-sachleben-sells-10000-shares-of-new-relic-newr-stock.html.

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)

Receive News & Ratings for New Relic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for New Relic and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply