Mark Sachleben Sells 1,753 Shares of New Relic, Inc. (NEWR) Stock

New Relic, Inc. (NYSE:NEWR) CFO Mark Sachleben sold 1,753 shares of the firm’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $45.93, for a total value of $80,515.29. Following the sale, the chief financial officer now directly owns 1,248 shares of the company’s stock, valued at approximately $57,320.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

  • On Wednesday, August 9th, Mark Sachleben sold 10,000 shares of New Relic stock. The shares were sold at an average price of $44.60, for a total value of $446,000.00.
  • On Thursday, August 3rd, Mark Sachleben sold 5,000 shares of New Relic stock. The shares were sold at an average price of $45.37, for a total value of $226,850.00.
  • On Tuesday, July 18th, Mark Sachleben sold 5,000 shares of New Relic stock. The shares were sold at an average price of $48.14, for a total value of $240,700.00.
  • On Wednesday, July 12th, Mark Sachleben sold 10,000 shares of New Relic stock. The shares were sold at an average price of $46.68, for a total value of $466,800.00.
  • On Thursday, July 6th, Mark Sachleben sold 5,000 shares of New Relic stock. The shares were sold at an average price of $43.09, for a total value of $215,450.00.
  • On Tuesday, June 20th, Mark Sachleben sold 1,370 shares of New Relic stock. The shares were sold at an average price of $43.44, for a total value of $59,512.80.
  • On Friday, June 16th, Mark Sachleben sold 833 shares of New Relic stock. The shares were sold at an average price of $41.34, for a total value of $34,436.22.
  • On Monday, June 12th, Mark Sachleben sold 11,500 shares of New Relic stock. The shares were sold at an average price of $40.21, for a total value of $462,415.00.
  • On Monday, June 5th, Mark Sachleben sold 3,500 shares of New Relic stock. The shares were sold at an average price of $44.13, for a total value of $154,455.00.
  • On Tuesday, May 30th, Mark Sachleben sold 3,500 shares of New Relic stock. The shares were sold at an average price of $44.56, for a total value of $155,960.00.

New Relic, Inc. (NEWR) traded up 0.13% on Friday, reaching $45.73. The company had a trading volume of 118,607 shares. New Relic, Inc. has a 12 month low of $27.85 and a 12 month high of $49.19. The firm has a 50-day moving average of $46.06 and a 200-day moving average of $40.99. The stock’s market capitalization is $2.49 billion.

New Relic (NYSE:NEWR) last issued its earnings results on Thursday, August 3rd. The software maker reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.03. The business had revenue of $80.10 million for the quarter, compared to analyst estimates of $78.09 million. New Relic had a negative return on equity of 29.19% and a negative net margin of 20.68%. The business’s quarterly revenue was up 36.7% on a year-over-year basis. During the same period last year, the company posted ($0.20) EPS. On average, equities research analysts expect that New Relic, Inc. will post ($0.25) earnings per share for the current fiscal year.

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A number of hedge funds have recently made changes to their positions in the stock. Ameritas Investment Partners Inc. increased its stake in shares of New Relic by 50.4% in the second quarter. Ameritas Investment Partners Inc. now owns 2,573 shares of the software maker’s stock valued at $111,000 after buying an additional 862 shares in the last quarter. California State Teachers Retirement System increased its stake in shares of New Relic by 20.1% in the second quarter. California State Teachers Retirement System now owns 51,933 shares of the software maker’s stock valued at $2,234,000 after buying an additional 8,682 shares in the last quarter. Osterweis Capital Management Inc. increased its stake in shares of New Relic by 93.9% in the second quarter. Osterweis Capital Management Inc. now owns 75,605 shares of the software maker’s stock valued at $3,252,000 after buying an additional 36,615 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in shares of New Relic during the second quarter valued at about $1,734,000. Finally, Cubist Systematic Strategies LLC increased its stake in shares of New Relic by 370.4% in the second quarter. Cubist Systematic Strategies LLC now owns 28,615 shares of the software maker’s stock valued at $1,231,000 after buying an additional 22,532 shares in the last quarter. Hedge funds and other institutional investors own 71.79% of the company’s stock.

A number of equities research analysts have recently weighed in on NEWR shares. BidaskClub cut New Relic from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. First Analysis cut New Relic from an “overweight” rating to an “equal weight” rating and set a $50.00 price objective for the company. in a research note on Friday, August 4th. Morgan Stanley cut New Relic from an “overweight” rating to an “equal weight” rating and lifted their price objective for the company from $45.00 to $48.00 in a research note on Thursday, July 20th. They noted that the move was a valuation call. Zacks Investment Research cut New Relic from a “buy” rating to a “hold” rating in a research note on Tuesday, May 16th. Finally, UBS AG lifted their price objective on New Relic from $42.00 to $47.00 and gave the company a “neutral” rating in a research note on Friday, August 4th. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $47.36.

New Relic Company Profile

New Relic, Inc (New Relic) is a provider of enterprise software. The Company’s cloud-based platform and range of products enable organizations to collect, store and analyze software data in real time. The Company’s New Relic Software Analytics Cloud consists of an integrated suite of products, a data database and an open platform.

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