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 stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $66.30, for a total value of $265,200.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Shares of New Relic Inc (NYSE:NEWR) opened at $68.34 on Friday. New Relic Inc has a 52 week low of $33.10 and a 52 week high of $70.92. The firm has a market capitalization of $3,788.84, a price-to-earnings ratio of -69.03 and a beta of 0.98.

New Relic (NYSE:NEWR) last posted its earnings results on Tuesday, February 6th. The software maker reported $0.05 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.07) by $0.12. New Relic had a negative return on equity of 25.22% and a negative net margin of 16.17%. The business had revenue of $91.83 million for the quarter, compared to analysts’ expectations of $89.31 million. During the same quarter in the previous year, the firm earned ($0.09) earnings per share. The business’s revenue was up 34.8% compared to the same quarter last year. research analysts forecast that New Relic Inc will post -0.81 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of NEWR. First Trust Advisors LP increased its position in shares of New Relic by 2,139.1% during the fourth quarter. First Trust Advisors LP now owns 1,264,352 shares of the software maker’s stock worth $73,042,000 after purchasing an additional 1,207,885 shares in the last quarter. TimesSquare Capital Management LLC increased its position in shares of New Relic by 657.4% during the third quarter. TimesSquare Capital Management LLC now owns 568,040 shares of the software maker’s stock worth $28,288,000 after purchasing an additional 493,040 shares in the last quarter. Westfield Capital Management Co. LP acquired a new stake in shares of New Relic during the third quarter worth about $23,221,000. Goldman Sachs Group Inc. increased its position in shares of New Relic by 1,352.1% during the second quarter. Goldman Sachs Group Inc. now owns 277,901 shares of the software maker’s stock worth $11,953,000 after purchasing an additional 258,763 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of New Relic by 7.7% during the second quarter. Vanguard Group Inc. now owns 2,848,100 shares of the software maker’s stock worth $122,497,000 after buying an additional 204,652 shares during the last quarter. Institutional investors and hedge funds own 75.49% of the company’s stock.

A number of analysts have weighed in on the company. Needham & Company LLC raised their price target on New Relic from $69.00 to $73.00 and gave the company a “buy” rating in a research note on Wednesday, February 7th. Oppenheimer raised their price target on New Relic from $57.00 to $66.00 and gave the company an “outperform” rating in a research note on Wednesday, February 7th. Robert W. Baird raised their price target on New Relic from $65.00 to $68.00 and gave the company an “outperform” rating in a research note on Wednesday, February 7th. Stephens raised their price target on New Relic from $60.00 to $70.00 and gave the company an “overweight” rating in a research note on Wednesday, February 7th. Finally, BMO Capital Markets raised their price target on New Relic from $68.00 to $71.00 and gave the company a “market perform” rating in a research note on Wednesday, February 7th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $60.00.

TRADEMARK VIOLATION NOTICE: This news story was first published by The Lincolnian Online and is the property of of The Lincolnian Online. If you are viewing this news story on another publication, it was illegally stolen and republished in violation of U.S. & international copyright law. The legal version of this news story can be read at https://www.thelincolnianonline.com/2018/02/18/james-r-gochee-sells-4000-shares-of-new-relic-inc-newr-stock.html.

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)

Receive News & Ratings for New Relic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for New Relic and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply