New Relic Inc. (NYSE:NEWR) insider James R. Gochee sold 4,000 shares of the stock in a transaction on Wednesday, October 12th. The shares were sold at an average price of $36.15, for a total value of $144,600.00. Following the completion of the sale, the insider now owns 383,090 shares of the company’s stock, valued at approximately $13,848,703.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
New Relic Inc. (NYSE:NEWR) opened at 35.82 on Thursday. The firm’s 50-day moving average is $37.10 and its 200 day moving average is $31.44. The firm’s market capitalization is $1.82 billion. New Relic Inc. has a 52-week low of $20.39 and a 52-week high of $40.13.
New Relic (NYSE:NEWR) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported ($0.20) EPS for the quarter, topping the consensus estimate of ($0.23) by $0.03. New Relic had a negative net margin of 34.91% and a negative return on equity of 34.30%. The firm had revenue of $58.60 million for the quarter, compared to analysts’ expectations of $56.96 million. During the same period in the previous year, the firm posted ($0.21) EPS. The company’s revenue for the quarter was up 53.8% on a year-over-year basis. Equities analysts anticipate that New Relic Inc. will post ($0.62) EPS for the current year.
Large investors have recently modified their holdings of the company. Frontier Capital Management Co. LLC boosted its stake in shares of New Relic by 47.5% in the second quarter. Frontier Capital Management Co. LLC now owns 152,241 shares of the company’s stock valued at $4,473,000 after buying an additional 49,060 shares during the period. Charles Stewart Mott Foundation acquired a new stake in shares of New Relic during the second quarter valued at approximately $1,309,000. California State Teachers Retirement System boosted its stake in shares of New Relic by 275.5% in the second quarter. California State Teachers Retirement System now owns 46,051 shares of the company’s stock valued at $1,353,000 after buying an additional 33,788 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of New Relic by 31.9% in the second quarter. Bank of New York Mellon Corp now owns 126,142 shares of the company’s stock valued at $3,706,000 after buying an additional 30,519 shares during the period. Finally, Gilder Gagnon Howe & Co. LLC boosted its stake in shares of New Relic by 50.8% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 133,254 shares of the company’s stock valued at $3,915,000 after buying an additional 44,918 shares during the period. 58.44% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts recently issued reports on NEWR shares. Morgan Stanley set a $43.00 price objective on New Relic and gave the stock a “buy” rating in a report on Wednesday, September 28th. Cowen and Company started coverage on New Relic in a report on Friday, June 24th. They set an “outperform” rating and a $38.00 price objective for the company. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $38.50.
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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