Insider Selling: New Relic (NEWR) CFO Sells 3,056 Shares of Stock

New Relic (NYSE:NEWR) CFO Mark Sachleben sold 3,056 shares of the stock in a transaction that occurred on Friday, May 18th. The shares were sold at an average price of $91.31, for a total value of $279,043.36. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

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

  • On Wednesday, May 16th, Mark Sachleben sold 1,567 shares of New Relic stock. The shares were sold at an average price of $89.45, for a total value of $140,168.15.
  • On Monday, May 14th, Mark Sachleben sold 15,000 shares of New Relic stock. The shares were sold at an average price of $89.68, for a total value of $1,345,200.00.
  • On Thursday, May 3rd, Mark Sachleben sold 7,500 shares of New Relic stock. The shares were sold at an average price of $70.82, for a total value of $531,150.00.
  • On Monday, April 23rd, Mark Sachleben sold 7,500 shares of New Relic stock. The shares were sold at an average price of $75.11, for a total value of $563,325.00.
  • On Tuesday, April 10th, Mark Sachleben sold 10,000 shares of New Relic stock. The shares were 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 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.

Shares of New Relic opened at $94.63 on Monday, according to Marketbeat. New Relic has a 1-year low of $39.11 and a 1-year high of $95.58.

New Relic (NYSE:NEWR) last issued its earnings results on Tuesday, May 8th. The software maker reported $0.09 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.04. New Relic had a negative return on equity of 20.14% and a negative net margin of 12.76%. The firm had revenue of $98.40 million for the quarter, compared to analyst estimates of $96.34 million. During the same period last year, the company earned ($0.11) earnings per share. The firm’s revenue for the quarter was up 34.2% on a year-over-year basis. equities research analysts anticipate that New Relic will post -0.59 EPS for the current year.

NEWR has been the subject of several research analyst reports. Needham & Company LLC increased their target price on New Relic from $73.00 to $84.00 and gave the company a “buy” rating in a research note on Monday, April 2nd. Zacks Investment Research cut New Relic from a “buy” rating to a “hold” rating in a research note on Wednesday, April 11th. Wedbush restated an “outperform” rating and set a $86.00 price objective on shares of New Relic in a research note on Wednesday, April 25th. KeyCorp raised their price objective on New Relic from $70.00 to $86.00 and gave the stock an “overweight” rating in a research note on Monday, March 19th. They noted that the move was a valuation call. Finally, Stephens raised their price objective on New Relic from $60.00 to $70.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 7th. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $73.79.

Institutional investors and hedge funds have recently modified their holdings of the company. Swiss National Bank increased its holdings in shares of New Relic by 5.5% during the fourth quarter. Swiss National Bank now owns 55,697 shares of the software maker’s stock valued at $3,218,000 after purchasing an additional 2,900 shares during the period. Fox Run Management L.L.C. acquired a new position in shares of New Relic during the fourth quarter valued at $534,000. Goldman Sachs Group Inc. increased its holdings in shares of New Relic by 2.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 411,951 shares of the software maker’s stock valued at $23,799,000 after purchasing an additional 11,038 shares during the period. Geode Capital Management LLC increased its holdings in shares of New Relic by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 349,177 shares of the software maker’s stock valued at $20,171,000 after purchasing an additional 9,930 shares during the period. Finally, BlackRock Inc. increased its holdings in shares of New Relic by 4.4% during the fourth quarter. BlackRock Inc. now owns 2,215,858 shares of the software maker’s stock valued at $128,010,000 after purchasing an additional 94,283 shares during the period. 75.30% of the stock is currently owned by institutional investors.

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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