Insider Selling: New Relic Inc (NEWR) VP Sells 2,318 Shares of Stock

New Relic Inc (NYSE:NEWR) VP Robin Schulman sold 2,318 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $62.81, for a total transaction of $145,593.58. Following the transaction, the vice president now owns 2,895 shares in the company, valued at approximately $181,834.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Robin Schulman also recently made the following trade(s):

  • On Monday, January 29th, Robin Schulman sold 1 shares of New Relic stock. The shares were sold at an average price of $62.81, for a total transaction of $62.81.
  • On Wednesday, December 20th, Robin Schulman sold 372 shares of New Relic stock. The shares were sold at an average price of $59.30, for a total transaction of $22,059.60.
  • On Friday, December 15th, Robin Schulman sold 1,575 shares of New Relic stock. The shares were sold at an average price of $58.90, for a total transaction of $92,767.50.
  • On Monday, December 18th, Robin Schulman sold 1,991 shares of New Relic stock. The shares were sold at an average price of $58.97, for a total transaction of $117,409.27.
  • On Monday, November 20th, Robin Schulman sold 1,144 shares of New Relic stock. The shares were sold at an average price of $55.13, for a total transaction of $63,068.72.
  • On Thursday, November 16th, Robin Schulman sold 1,797 shares of New Relic stock. The shares were sold at an average price of $54.44, for a total transaction of $97,828.68.

New Relic Inc (NYSE NEWR) opened at $63.00 on Friday. New Relic Inc has a fifty-two week low of $33.10 and a fifty-two week high of $66.10.

New Relic (NYSE:NEWR) last issued its quarterly earnings results on Tuesday, February 6th. The software maker reported $0.05 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.07) by $0.12. New Relic had a negative net margin of 16.17% and a negative return on equity of 25.55%. The company had revenue of $91.83 million for the quarter, compared to the consensus estimate of $89.31 million. During the same quarter in the prior year, the company earned ($0.09) EPS. New Relic’s quarterly revenue was up 34.8% on a year-over-year basis. equities analysts predict that New Relic Inc will post -0.98 earnings per share for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in the business. Macquarie Group Ltd. boosted its position in New Relic by 0.8% in the 2nd quarter. Macquarie Group Ltd. now owns 41,109 shares of the software maker’s stock worth $1,768,000 after purchasing an additional 313 shares in the last quarter. Suntrust Banks Inc. boosted its position in New Relic by 4.8% in the 2nd quarter. Suntrust Banks Inc. now owns 9,582 shares of the software maker’s stock worth $411,000 after purchasing an additional 442 shares in the last quarter. Ameritas Investment Partners Inc. boosted its position 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 in the last quarter. Essex Investment Management Co. LLC boosted its position in New Relic by 11.4% in the 3rd quarter. Essex Investment Management Co. LLC now owns 10,031 shares of the software maker’s stock worth $500,000 after purchasing an additional 1,025 shares in the last quarter. Finally, American International Group Inc. boosted its position in New Relic by 8.1% in the 3rd quarter. American International Group Inc. now owns 19,656 shares of the software maker’s stock worth $979,000 after purchasing an additional 1,470 shares in the last quarter. Institutional investors and hedge funds own 75.84% of the company’s stock.

Several equities analysts have recently issued reports on NEWR shares. JMP Securities upped their price objective on shares of New Relic from $54.00 to $56.00 and gave the company a “market outperform” rating in a report on Wednesday, November 8th. Needham & Company LLC started coverage on shares of New Relic in a report on Monday, October 23rd. They set a “buy” rating and a $69.00 price objective on the stock. Robert W. Baird upped their price objective on shares of New Relic from $65.00 to $68.00 and gave the company an “outperform” rating in a report on Wednesday. Morgan Stanley upped their price objective on shares of New Relic from $48.00 to $52.00 and gave the company an “equal weight” rating in a report on Wednesday, November 8th. Finally, Stephens reiterated a “buy” rating and issued a $70.00 price target (up previously from $60.00) on shares of New Relic in a report on Wednesday. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $60.00.

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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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