New Relic Inc (NYSE:NEWR) insider James R. Gochee sold 508 shares of New Relic stock in a transaction dated Monday, September 17th. The shares were sold at an average price of $101.48, for a total value of $51,551.84. Following the transaction, the insider now owns 311,454 shares of the company’s stock, valued at approximately $31,606,351.92. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Shares of New Relic stock traded down $6.47 on Monday, hitting $100.46. The company’s stock had a trading volume of 816,700 shares, compared to its average volume of 684,650. The company has a quick ratio of 3.83, a current ratio of 3.83 and a debt-to-equity ratio of 1.28. New Relic Inc has a 1 year low of $46.24 and a 1 year high of $114.78. The firm has a market cap of $6.20 billion, a PE ratio of -135.76 and a beta of 0.77.
New Relic (NYSE:NEWR) last announced its quarterly earnings results on Tuesday, August 7th. The software maker reported $0.15 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.04. New Relic had a negative return on equity of 12.19% and a negative net margin of 9.13%. The firm had revenue of $108.22 million during the quarter, compared to analyst estimates of $106.09 million. sell-side analysts expect that New Relic Inc will post -0.38 EPS for the current year.
Institutional investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC increased its stake in shares of New Relic by 95.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,198 shares of the software maker’s stock valued at $121,000 after purchasing an additional 584 shares in the last quarter. Stratos Wealth Partners LTD. acquired a new stake in New Relic in the 1st quarter worth about $141,000. Cerebellum GP LLC acquired a new stake in New Relic in the 2nd quarter worth about $172,000. CIBC Asset Management Inc acquired a new stake in New Relic in the 2nd quarter worth about $200,000. Finally, Stifel Financial Corp acquired a new stake in New Relic in the 1st quarter worth about $203,000. Hedge funds and other institutional investors own 77.20% of the company’s stock.
A number of equities analysts have weighed in on NEWR shares. Needham & Company LLC reiterated a “buy” rating and set a $121.00 price objective on shares of New Relic in a research note on Tuesday, June 5th. Deutsche Bank started coverage on New Relic in a research note on Monday, June 25th. They set a “buy” rating and a $125.00 price objective for the company. ValuEngine lowered New Relic from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 30th. Zacks Investment Research upgraded New Relic from a “hold” rating to a “buy” rating and set a $118.00 price objective for the company in a research note on Tuesday, August 14th. Finally, TheStreet upgraded New Relic from a “d” rating to a “c” rating in a research note on Thursday, August 23rd. Eight research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. New Relic has a consensus rating of “Buy” and a consensus target price of $99.13.
New Relic Company Profile
New Relic, Inc, a software-as-a-service company, provides various digital products worldwide. Its cloud-based platform and suite of products include New Relic Platform, which enable organizations to collect, store, and analyze data. The company offers New Relic Application Performance Management that provides visibility into the performance and usage of server-based applications, such as data pertaining to response time, transaction throughput, error rates, top transactions, and user satisfaction; New Relic Mobile, which provides code-level visibility into the performance and health of mobile applications running on the iOS and Android mobile operating systems; and New Relic Browser that monitors the page view experiences of actual end-users for desktop and mobile browser-based applications.
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