Insider Selling: New Relic Inc (NYSE:NEWR) Insider Sells $635,680.00 in Stock

New Relic Inc (NYSE:NEWR) insider James R. Gochee sold 6,850 shares of New Relic stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $92.80, for a total transaction of $635,680.00. Following the sale, the insider now owns 137,776 shares of the company’s stock, valued at $12,785,612.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

James R. Gochee also recently made the following trade(s):

  • On Wednesday, June 12th, James R. Gochee sold 4,000 shares of New Relic stock. The stock was sold at an average price of $95.50, for a total transaction of $382,000.00.

New Relic stock opened at $93.59 on Friday. New Relic Inc has a 1 year low of $70.30 and a 1 year high of $114.78. The firm has a 50 day moving average of $94.77. The stock has a market capitalization of $5.44 billion, a P/E ratio of -301.90 and a beta of 0.82. The company has a current ratio of 2.90, a quick ratio of 2.90 and a debt-to-equity ratio of 1.16.

New Relic (NYSE:NEWR) last released its earnings results on Tuesday, May 14th. The software maker reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.07. New Relic had a negative net margin of 8.53% and a negative return on equity of 6.57%. The firm had revenue of $132.10 million during the quarter, compared to the consensus estimate of $128.19 million. During the same period in the previous year, the firm earned $0.09 earnings per share. New Relic’s revenue was up 34.2% compared to the same quarter last year. As a group, analysts anticipate that New Relic Inc will post -0.56 EPS for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the stock. NumerixS Investment Technologies Inc purchased a new stake in New Relic during the fourth quarter worth approximately $32,000. Wealthcare Advisory Partners LLC grew its stake in New Relic by 33.3% during the fourth quarter. Wealthcare Advisory Partners LLC now owns 400 shares of the software maker’s stock worth $32,000 after buying an additional 100 shares during the period. Cornerstone Advisors Inc. grew its stake in New Relic by 58.4% during the first quarter. Cornerstone Advisors Inc. now owns 358 shares of the software maker’s stock worth $35,000 after buying an additional 132 shares during the period. Evolution Wealth Advisors LLC purchased a new stake in New Relic during the first quarter worth approximately $42,000. Finally, Victory Capital Management Inc. grew its stake in New Relic by 255.8% during the first quarter. Victory Capital Management Inc. now owns 587 shares of the software maker’s stock worth $58,000 after buying an additional 422 shares during the period. Hedge funds and other institutional investors own 78.69% of the company’s stock.

A number of brokerages have recently commented on NEWR. Needham & Company LLC reiterated a “buy” rating and set a $87.00 price target on shares of LivaNova in a report on Wednesday, May 15th. Wedbush reiterated an “outperform” rating and set a $124.00 price target on shares of New Relic in a report on Wednesday, May 15th. Goldman Sachs Group began coverage on shares of HubSpot in a report on Friday, June 7th. They set a “buy” rating and a $223.00 price target for the company. ValuEngine upgraded shares of Valmont Industries from a “sell” rating to a “hold” rating in a report on Friday. Finally, Zacks Investment Research downgraded shares of HENGAN INTL GRP/ADR from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 21st. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $115.17.

New Relic Company Profile

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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Insider Buying and Selling by Quarter for New Relic (NYSE:NEWR)

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