Insider Selling: New Relic, Inc. (NEWR) CEO Sells 33,000 Shares of Stock

New Relic, Inc. (NYSE:NEWR) CEO Lewis Cirne sold 33,000 shares of the stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $56.63, for a total value of $1,868,790.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

  • On Tuesday, November 7th, Lewis Cirne sold 33,000 shares of New Relic stock. The stock was sold at an average price of $51.15, for a total transaction of $1,687,950.00.
  • On Friday, October 6th, Lewis Cirne sold 33,000 shares of New Relic stock. The stock was sold at an average price of $50.72, for a total transaction of $1,673,760.00.

Shares of New Relic, Inc. (NYSE NEWR) traded up $0.64 during trading on Thursday, reaching $56.75. 205,200 shares of the company’s stock traded hands, compared to its average volume of 463,721. New Relic, Inc. has a twelve month low of $27.85 and a twelve month high of $59.90.

New Relic (NYSE:NEWR) last released its earnings results on Tuesday, November 7th. The software maker reported ($0.06) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.10) by $0.04. New Relic had a negative net margin of 19.43% and a negative return on equity of 29.19%. The firm had revenue of $84.68 million for the quarter, compared to the consensus estimate of $82.98 million. During the same period in the prior year, the firm earned ($0.09) EPS. The company’s revenue was up 33.5% compared to the same quarter last year. equities research analysts anticipate that New Relic, Inc. will post -0.98 EPS for the current year.

Several equities analysts have commented on NEWR shares. BidaskClub raised shares of New Relic from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 24th. Robert W. Baird set a $55.00 price target on shares of New Relic and gave the company a “buy” rating in a report on Monday, September 11th. KeyCorp began coverage on shares of New Relic in a research note on Tuesday, September 19th. They issued an “overweight” rating and a $52.00 target price for the company. Oppenheimer restated a “buy” rating and set a $50.00 price target on shares of New Relic in a research note on Tuesday, September 19th. Finally, Zacks Investment Research raised shares of New Relic from a “hold” rating to a “buy” rating and set a $56.00 price objective for the company in a report on Wednesday, October 4th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. New Relic has a consensus rating of “Buy” and a consensus price target of $53.58.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Ameritas Investment Partners Inc. lifted its holdings in New Relic by 50.4% in the second quarter. Ameritas Investment Partners Inc. now owns 2,573 shares of the software maker’s stock valued at $111,000 after acquiring an additional 862 shares during the period. ETF Managers Group LLC acquired a new position in New Relic in the second quarter valued at approximately $118,000. Botty Investors LLC lifted its holdings in New Relic by 23.5% in the second quarter. Botty Investors LLC now owns 2,809 shares of the software maker’s stock valued at $121,000 after acquiring an additional 535 shares during the period. BNP Paribas Arbitrage SA lifted its holdings in New Relic by 507.2% in the second quarter. BNP Paribas Arbitrage SA now owns 3,813 shares of the software maker’s stock valued at $164,000 after acquiring an additional 3,185 shares during the period. Finally, BT Investment Management Ltd purchased a new stake in shares of New Relic in the second quarter valued at approximately $186,000. Hedge funds and other institutional investors own 77.16% of the company’s stock.

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About New Relic

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.

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

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