New Relic Inc (NEWR) CEO Lewis Cirne Sells 25,000 Shares

New Relic Inc (NYSE:NEWR) CEO Lewis Cirne sold 25,000 shares of the company’s stock in a transaction dated Monday, January 8th. The shares were sold at an average price of $58.83, for a total transaction of $1,470,750.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Lewis Cirne also recently made the following trade(s):

  • On Thursday, December 7th, Lewis Cirne sold 33,000 shares of New Relic stock. The shares were sold at an average price of $56.63, for a total transaction of $1,868,790.00.
  • On Tuesday, November 7th, Lewis Cirne sold 33,000 shares of New Relic stock. The shares were sold at an average price of $51.15, for a total transaction of $1,687,950.00.

Shares of New Relic Inc (NYSE:NEWR) opened at $58.96 on Tuesday. The stock has a market cap of $3,250.00, a P/E ratio of -53.12 and a beta of 1.03. New Relic Inc has a fifty-two week low of $30.01 and a fifty-two week high of $60.85.

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

Hedge funds have recently bought and sold shares of the business. Ameritas Investment Partners Inc. boosted its stake in New Relic by 50.4% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,573 shares of the software maker’s stock worth $111,000 after purchasing an additional 862 shares during the period. ETF Managers Group LLC bought a new position in New Relic in the 2nd quarter worth approximately $118,000. BNP Paribas Arbitrage SA boosted its stake in New Relic by 507.2% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 3,813 shares of the software maker’s stock worth $164,000 after purchasing an additional 3,185 shares during the period. BT Investment Management Ltd bought a new position in New Relic in the 2nd quarter worth approximately $186,000. Finally, Pacad Investment Ltd. bought a new position in New Relic in the 2nd quarter worth approximately $211,000. Institutional investors and hedge funds own 76.45% of the company’s stock.

Several equities research analysts have recently commented on the stock. JMP Securities upped their price target on shares of New Relic from $54.00 to $56.00 and gave the company a “market outperform” rating in a research report on Wednesday, November 8th. KeyCorp assumed coverage on shares of New Relic in a research report on Tuesday, September 19th. They set an “overweight” rating and a $52.00 price target for the company. BidaskClub lowered shares of New Relic from a “strong-buy” rating to a “buy” rating in a research report on Monday, September 18th. Robert W. Baird set a $55.00 price target on shares of New Relic and gave the company a “buy” rating in a research report on Monday, September 11th. Finally, Oppenheimer reaffirmed a “buy” rating and set a $50.00 price target on shares of New Relic in a research report on Tuesday, September 19th. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $54.23.

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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.

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

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