James R. Gochee Sells 4,000 Shares of New Relic, Inc. (NEWR) Stock

New Relic, Inc. (NYSE:NEWR) insider James R. Gochee sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $56.85, for a total transaction of $227,400.00. Following the sale, the insider now owns 337,074 shares of the company’s stock, valued at approximately $19,162,656.90. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

New Relic, Inc. (NYSE:NEWR) opened at $59.68 on Friday. New Relic, Inc. has a one year low of $27.85 and a one year high of $60.85.

New Relic (NYSE:NEWR) last released its quarterly earnings data on Tuesday, November 7th. The software maker reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.04. New Relic had a negative net margin of 19.43% and a negative return on equity of 29.19%. The business had revenue of $84.68 million during the quarter, compared to analyst estimates of $82.98 million. During the same period in the previous year, the business earned ($0.09) EPS. New Relic’s revenue was up 33.5% compared to the same quarter last year. research analysts forecast that New Relic, Inc. will post -0.98 earnings per share for the current fiscal year.

NEWR has been the subject of several research analyst reports. Zacks Investment Research upgraded shares of New Relic from a “hold” rating to a “buy” rating and set a $56.00 price target for the company in a research note on Wednesday, October 4th. UBS initiated coverage on shares of New Relic in a research note on Thursday, November 9th. They set a “neutral” rating and a $53.00 price target for the company. KeyCorp restated an “overweight” rating and set a $57.00 price target (up previously from $52.00) on shares of New Relic in a research note on Wednesday, November 8th. BidaskClub lowered shares of New Relic from a “buy” rating to a “hold” rating in a research note on Tuesday, November 7th. Finally, Needham & Company LLC initiated coverage on shares of New Relic in a research note on Monday, October 23rd. They set a “buy” rating and a $69.00 price target for the company. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. New Relic presently has a consensus rating of “Buy” and a consensus target price of $54.23.

A number of institutional investors have recently added to or reduced their stakes in NEWR. Teachers Advisors LLC grew its stake in New Relic by 1.4% in the 1st quarter. Teachers Advisors LLC now owns 58,125 shares of the software maker’s stock valued at $2,155,000 after buying an additional 811 shares in the last quarter. Schwab Charles Investment Management Inc. grew its position in shares of New Relic by 6.3% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 108,841 shares of the software maker’s stock valued at $4,035,000 after purchasing an additional 6,480 shares in the last quarter. State Street Corp grew its position in shares of New Relic by 7.4% during the 1st quarter. State Street Corp now owns 408,667 shares of the software maker’s stock valued at $15,149,000 after purchasing an additional 28,013 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of New Relic by 340.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 19,138 shares of the software maker’s stock valued at $709,000 after purchasing an additional 27,088 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its position in shares of New Relic by 185.1% during the 2nd quarter. Russell Investments Group Ltd. now owns 66,836 shares of the software maker’s stock valued at $2,873,000 after purchasing an additional 43,389 shares in the last quarter. Institutional investors and hedge funds own 77.16% of the company’s stock.

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About New Relic

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.

Insider Buying and Selling by Quarter for New Relic (NYSE:NEWR)

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