New Relic Inc (NYSE:NEWR) insider James R. Gochee sold 4,000 shares of the stock in a transaction on Wednesday, March 14th. The stock was sold at an average price of $73.34, for a total transaction of $293,360.00. Following the completion of the sale, the insider now directly owns 328,280 shares of the company’s stock, valued at $24,076,055.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
New Relic Inc (NYSE:NEWR) traded up $2.50 on Wednesday, reaching $75.35. 502,560 shares of the company traded hands, compared to its average volume of 584,806. The stock has a market capitalization of $4,180.00, a PE ratio of -76.11 and a beta of 0.67. New Relic Inc has a 52 week low of $34.61 and a 52 week high of $76.54.
New Relic (NYSE:NEWR) last posted its earnings results on Tuesday, February 6th. The software maker reported $0.05 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.07) by $0.12. The company had revenue of $91.83 million during the quarter, compared to analysts’ expectations of $89.31 million. New Relic had a negative net margin of 16.17% and a negative return on equity of 25.22%. New Relic’s quarterly revenue was up 34.8% on a year-over-year basis. During the same period last year, the company posted ($0.09) earnings per share. analysts forecast that New Relic Inc will post -0.77 EPS for the current year.
A number of institutional investors and hedge funds have recently bought and sold shares of NEWR. Crow Point Partners LLC purchased a new position in New Relic during the fourth quarter valued at $113,000. Cipher Capital LP bought a new position in New Relic during the third quarter valued at $212,000. Woodstock Corp bought a new position in New Relic during the fourth quarter valued at $212,000. Xact Kapitalforvaltning AB bought a new position in New Relic during the fourth quarter valued at $233,000. Finally, Amalgamated Bank bought a new position in New Relic during the fourth quarter valued at $240,000. 75.76% of the stock is owned by institutional investors.
A number of analysts have recently issued reports on the stock. Zacks Investment Research cut shares of New Relic from a “buy” rating to a “hold” rating in a research note on Friday, March 9th. Wedbush assumed coverage on shares of New Relic in a research note on Friday, February 23rd. They issued an “outperform” rating and a $86.00 price objective for the company. Oppenheimer increased their price objective on shares of New Relic from $57.00 to $66.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 7th. JPMorgan Chase & Co. cut shares of New Relic from an “overweight” rating to a “neutral” rating and set a $62.00 price objective for the company. in a research note on Tuesday, December 12th. Finally, BMO Capital Markets assumed coverage on shares of New Relic in a research note on Friday, January 12th. They issued a “market perform” rating and a $68.00 price objective for the company. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $63.71.
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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