Lewis Cirne Sells 89,000 Shares of New Relic Inc (NEWR) Stock

New Relic Inc (NYSE:NEWR) CEO Lewis Cirne sold 89,000 shares of the company’s stock in a transaction dated Tuesday, December 4th. The shares were sold at an average price of $84.76, for a total transaction of $7,543,640.00. The sale was disclosed in a document filed with the SEC, which is available at this link.

Lewis Cirne also recently made the following trade(s):

  • On Friday, November 2nd, Lewis Cirne sold 89,000 shares of New Relic stock. The shares were sold at an average price of $88.23, for a total transaction of $7,852,470.00.
  • On Tuesday, October 2nd, Lewis Cirne sold 89,000 shares of New Relic stock. The shares were sold at an average price of $88.09, for a total transaction of $7,840,010.00.

NEWR opened at $83.16 on Friday. The company has a current ratio of 3.81, a quick ratio of 3.81 and a debt-to-equity ratio of 1.25. New Relic Inc has a fifty-two week low of $56.01 and a fifty-two week high of $114.78. The stock has a market capitalization of $4.73 billion, a P/E ratio of -112.38 and a beta of 0.80.

New Relic (NYSE:NEWR) last posted its earnings results on Tuesday, November 6th. The software maker reported ($0.11) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.08) by ($0.03). New Relic had a negative return on equity of 7.97% and a negative net margin of 6.93%. The business had revenue of $114.90 million during the quarter, compared to analyst estimates of $112.26 million. During the same quarter in the prior year, the company earned ($0.06) EPS. The company’s revenue was up 35.7% on a year-over-year basis. Equities analysts forecast that New Relic Inc will post -0.37 EPS for the current fiscal year.

Several equities analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of New Relic from a “buy” rating to a “hold” rating in a report on Wednesday, November 14th. DA Davidson upgraded shares of New Relic from a “neutral” rating to a “buy” rating and set a $105.00 price objective on the stock in a report on Tuesday, October 23rd. They noted that the move was a valuation call. ValuEngine lowered shares of New Relic from a “buy” rating to a “hold” rating in a report on Tuesday, November 6th. TheStreet upgraded shares of New Relic from a “d” rating to a “c” rating in a report on Thursday, August 23rd. Finally, BMO Capital Markets dropped their price objective on shares of New Relic from $117.00 to $110.00 and set an “outperform” rating on the stock in a report on Wednesday, November 7th. Seven equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $103.47.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Clearbridge Investments LLC increased its stake in New Relic by 7.7% in the 3rd quarter. Clearbridge Investments LLC now owns 1,426,105 shares of the software maker’s stock valued at $134,382,000 after buying an additional 101,991 shares during the last quarter. Vanguard Group Inc. increased its stake in New Relic by 11.5% in the 3rd quarter. Vanguard Group Inc. now owns 4,552,159 shares of the software maker’s stock valued at $428,950,000 after buying an additional 468,506 shares during the last quarter. Kepos Capital LP purchased a new stake in New Relic in the 3rd quarter valued at about $2,698,000. Rehmann Capital Advisory Group increased its stake in New Relic by 8,380.1% in the 3rd quarter. Rehmann Capital Advisory Group now owns 127,964 shares of the software maker’s stock valued at $1,358,000 after buying an additional 126,455 shares during the last quarter. Finally, Nordea Investment Management AB purchased a new stake in New Relic in the 3rd quarter valued at about $3,924,000. Institutional investors own 77.28% of the company’s stock.

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About New Relic

New Relic, Inc, a software-as-a-service company, provides various digital products worldwide. Its cloud-based platform and suite of products include New Relic Platform, which enable organizations to collect, store, and analyze data. The company offers New Relic Application Performance Management that provides visibility into the performance and usage of server-based applications, such as data pertaining to response time, transaction throughput, error rates, top transactions, and user satisfaction; New Relic Mobile, which provides code-level visibility into the performance and health of mobile applications running on the iOS and Android mobile operating systems; and New Relic Browser that monitors the page view experiences of actual end-users for desktop and mobile browser-based applications.

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