Insider Selling: New Relic (NEWR) CFO Sells $563,325.00 in Stock

New Relic (NYSE:NEWR) CFO Mark Sachleben sold 7,500 shares of the firm’s stock in a transaction on Monday, April 23rd. The stock was sold at an average price of $75.11, for a total value of $563,325.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

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

  • On Tuesday, April 10th, Mark Sachleben sold 10,000 shares of New Relic stock. The stock was sold at an average price of $74.87, for a total value of $748,700.00.
  • On Thursday, April 5th, Mark Sachleben sold 7,500 shares of New Relic stock. The stock was 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 stock was 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 stock was 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 stock was 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 stock was 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 stock was 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 stock was 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 value of $322,900.00.

NEWR opened at $69.45 on Thursday. The firm has a market capitalization of $4,149.78, a PE ratio of -63.14 and a beta of 0.64. New Relic has a 12-month low of $39.11 and a 12-month high of $79.08.

New Relic (NYSE:NEWR) last released its earnings results 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. The company had revenue of $91.83 million during the quarter, compared to analyst estimates of $89.31 million. New Relic had a negative return on equity of 25.22% and a negative net margin of 16.17%. The company’s revenue for the quarter was up 34.8% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.09) earnings per share. sell-side analysts expect that New Relic will post -0.77 EPS for the current fiscal year.

Several large investors have recently made changes to their positions in NEWR. New York State Common Retirement Fund raised its holdings in shares of New Relic by 17.9% during 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 in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of New Relic by 88.4% during the third quarter. Ameriprise Financial Inc. now owns 56,677 shares of the software maker’s stock worth $2,823,000 after acquiring an additional 26,592 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of New Relic by 29.7% during the third quarter. Legal & General Group Plc now owns 13,569 shares of the software maker’s stock worth $674,000 after acquiring an additional 3,108 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of New Relic by 20.8% during the third quarter. JPMorgan Chase & Co. now owns 113,865 shares of the software maker’s stock worth $5,583,000 after acquiring an additional 19,636 shares in the last quarter. Finally, Wells Fargo & Company MN raised its holdings in shares of New Relic by 313.3% during the third 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 in the last quarter. Institutional investors and hedge funds own 75.62% of the company’s stock.

NEWR has been the subject of several research reports. Needham & Company LLC raised their price objective on New Relic from $69.00 to $73.00 and gave the stock a “buy” rating in a research note on Wednesday, February 7th. Zacks Investment Research raised New Relic from a “hold” rating to a “buy” rating and set a $82.00 price objective for the company in a research note on Thursday, March 8th. ValuEngine raised New Relic from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. BMO Capital Markets increased their target price on New Relic from $68.00 to $71.00 and gave the company a “market perform” rating in a report on Wednesday, February 7th. Finally, Oppenheimer increased their target price on New Relic from $57.00 to $66.00 and gave the company an “outperform” rating in a report on Wednesday, February 7th. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $66.57.

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About New Relic

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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