New Relic Inc (NYSE:NEWR) CEO Lewis Cirne sold 9,500 shares of New Relic stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $65.76, for a total transaction of $624,720.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Lewis Cirne also recently made the following trade(s):
- On Thursday, October 3rd, Lewis Cirne sold 8,500 shares of New Relic stock. The stock was sold at an average price of $62.28, for a total transaction of $529,380.00.
- On Wednesday, September 4th, Lewis Cirne sold 6,500 shares of New Relic stock. The shares were sold at an average price of $56.61, for a total transaction of $367,965.00.
Shares of NEWR stock opened at $65.51 on Friday. New Relic Inc has a 12 month low of $50.00 and a 12 month high of $109.00. The stock has a market cap of $3.88 billion, a P/E ratio of -211.32 and a beta of 0.97. The company has a current ratio of 2.88, a quick ratio of 2.88 and a debt-to-equity ratio of 1.32. The company has a 50 day simple moving average of $62.39 and a two-hundred day simple moving average of $79.62.
New Relic (NYSE:NEWR) last announced its earnings results on Tuesday, November 5th. The software maker reported $0.24 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.15) by $0.39. New Relic had a negative net margin of 11.26% and a negative return on equity of 9.07%. The business had revenue of $145.80 million during the quarter, compared to analysts’ expectations of $143.43 million. During the same period in the prior year, the company earned $0.20 earnings per share. The firm’s revenue was up 26.9% on a year-over-year basis. As a group, equities analysts forecast that New Relic Inc will post -0.74 earnings per share for the current year.
Hedge funds have recently made changes to their positions in the business. Farmers & Merchants Trust Co of Chambersburg PA purchased a new stake in New Relic during the third quarter valued at approximately $27,000. NEXT Financial Group Inc increased its holdings in New Relic by 905.3% during the third quarter. NEXT Financial Group Inc now owns 573 shares of the software maker’s stock valued at $35,000 after buying an additional 516 shares during the last quarter. Winslow Evans & Crocker Inc. increased its holdings in New Relic by 44.8% during the third quarter. Winslow Evans & Crocker Inc. now owns 666 shares of the software maker’s stock valued at $44,000 after buying an additional 206 shares during the last quarter. Point72 Hong Kong Ltd purchased a new stake in New Relic during the second quarter valued at approximately $55,000. Finally, Flinton Capital Management LLC increased its holdings in New Relic by 51.9% during the second quarter. Flinton Capital Management LLC now owns 656 shares of the software maker’s stock valued at $57,000 after buying an additional 224 shares during the last quarter. 78.38% of the stock is owned by institutional investors and hedge funds.
Several research firms have recently weighed in on NEWR. UBS Group decreased their price objective on shares of New Relic from $73.00 to $62.00 and set a “neutral” rating for the company in a report on Tuesday, September 17th. Morgan Stanley decreased their price objective on shares of New Relic from $84.00 to $80.00 and set an “overweight” rating for the company in a report on Tuesday, September 17th. KeyCorp reissued a “hold” rating on shares of New Relic in a report on Wednesday, August 7th. Goldman Sachs Group decreased their price objective on shares of New Relic from $65.00 to $52.00 and set a “sell” rating for the company in a report on Monday, September 16th. Finally, Raymond James reissued a “hold” rating on shares of New Relic in a report on Monday, September 23rd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $84.12.
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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