Robin Schulman Sells 372 Shares of New Relic Inc (NYSE:NEWR) Stock

New Relic Inc (NYSE:NEWR) VP Robin Schulman sold 372 shares of the firm’s stock in a transaction that occurred on Wednesday, December 20th. The shares were sold at an average price of $59.30, for a total transaction of $22,059.60. Following the completion of the sale, the vice president now owns 577 shares in the company, valued at $34,216.10. The transaction was disclosed in a document filed with the SEC, which is available at this link.

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

  • 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.
  • On Friday, October 6th, Robin Schulman sold 1,109 shares of New Relic stock. The shares were sold at an average price of $51.33, for a total transaction of $56,924.97.
  • On Monday, October 2nd, Robin Schulman sold 445 shares of New Relic stock. The shares were sold at an average price of $49.89, for a total transaction of $22,201.05.

Shares of New Relic Inc (NYSE:NEWR) opened at $60.39 on Friday. New Relic Inc has a 52-week low of $30.01 and a 52-week high of $60.85. The company has a market cap of $3,267.40, a P/E ratio of -53.92 and a beta of 1.03.

New Relic (NYSE:NEWR) last posted its quarterly earnings results on Tuesday, November 7th. The software maker reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate 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 the consensus estimate of $82.98 million. During the same quarter last year, the firm posted ($0.09) EPS. New Relic’s revenue was up 33.5% compared to the same quarter last year. equities research analysts predict that New Relic Inc will post -0.98 earnings per share for the current year.

Several research analysts have issued reports on NEWR shares. BidaskClub lowered shares of New Relic from a “strong-buy” rating to a “buy” rating in a report on Monday, September 18th. KeyCorp started coverage on shares of New Relic in a report on Tuesday, September 19th. They set an “overweight” rating and a $52.00 price target for the company. Oppenheimer restated a “buy” rating and set a $50.00 price target on shares of New Relic in a report on Tuesday, September 19th. 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 report on Wednesday, October 4th. Finally, 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 target for the company. Seven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. New Relic presently has an average rating of “Buy” and an average price target of $55.21.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Ameritas Investment Partners Inc. grew 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 valued at $111,000 after purchasing an additional 862 shares during the period. Crow Point Partners LLC purchased a new position in New Relic during the 4th quarter worth $113,000. ETF Managers Group LLC purchased a new position in New Relic during the 2nd quarter worth $118,000. BNP Paribas Arbitrage SA boosted its holdings in New Relic by 507.2% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 3,813 shares of the software maker’s stock worth $164,000 after acquiring an additional 3,185 shares during the last quarter. Finally, BT Investment Management Ltd purchased a new position in New Relic during the 2nd quarter worth $186,000. 76.45% of the stock is owned by institutional investors and hedge funds.

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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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