New Relic, Inc. (NYSE:NEWR) insider James R. Gochee sold 4,000 shares of the stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $56.85, for a total value of $227,400.00. Following the sale, the insider now owns 337,074 shares of the company’s stock, valued at $19,162,656.90. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.
New Relic, Inc. (NYSE NEWR) traded up $0.71 during mid-day trading on Wednesday, hitting $57.44. 477,968 shares of the stock were exchanged, compared to its average volume of 466,559. 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 (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.10) by $0.04. The company had revenue of $84.68 million for the quarter, compared to analysts’ expectations of $82.98 million. New Relic had a negative net margin of 19.43% and a negative return on equity of 29.19%. The business’s revenue was up 33.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.09) EPS. research analysts forecast that New Relic, Inc. will post -0.98 earnings per share for the current fiscal year.
A number of brokerages have weighed in on NEWR. J P Morgan Chase & Co downgraded New Relic from an “overweight” rating to a “neutral” rating and set a $62.00 price target for the company. in a report on Tuesday. UBS began coverage on New Relic in a report on Thursday, November 9th. They set a “neutral” rating and a $53.00 price target for the company. JMP Securities increased their price target on New Relic from $54.00 to $56.00 and gave the stock a “market outperform” rating in a report on Wednesday, November 8th. Morgan Stanley increased their price target on New Relic from $48.00 to $52.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 8th. Finally, KeyCorp reiterated an “overweight” rating and set a $57.00 price target (up from $52.00) on shares of New Relic in a report on Wednesday, November 8th. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $54.23.
Several hedge funds have recently added to or reduced their stakes in the company. D.A. Davidson & CO. boosted its position in shares of New Relic by 1.8% during the 2nd quarter. D.A. Davidson & CO. now owns 7,907 shares of the software maker’s stock worth $340,000 after purchasing an additional 142 shares in the last quarter. Macquarie Group Ltd. boosted its position in shares of New Relic by 0.8% during 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 shares of New Relic by 4.8% during 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. Botty Investors LLC boosted its position in shares of New Relic by 23.5% during the 2nd quarter. Botty Investors LLC now owns 2,809 shares of the software maker’s stock worth $121,000 after purchasing an additional 535 shares in the last quarter. Finally, Teachers Advisors LLC boosted its position in shares of New Relic by 1.4% during the 1st quarter. Teachers Advisors LLC now owns 58,125 shares of the software maker’s stock worth $2,155,000 after purchasing an additional 811 shares in the last quarter. 77.16% of the stock is currently owned by institutional investors.
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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