New Relic Inc (NYSE:NEWR) insider James R. Gochee sold 4,000 shares of the stock in a transaction on Wednesday, March 14th. The shares were sold at an average price of $73.34, for a total transaction of $293,360.00. Following the transaction, the insider now owns 328,280 shares of the company’s stock, valued at approximately $24,076,055.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
New Relic Inc (NYSE NEWR) traded up $2.50 during trading on Wednesday, hitting $75.35. 502,560 shares of the stock traded hands, compared to its average volume of 584,806. The company has a market cap of $4,180.00, a price-to-earnings ratio of -76.11 and a beta of 0.67. New Relic Inc has a 12-month low of $34.61 and a 12-month high of $76.54.
New Relic (NYSE:NEWR) last released its earnings results on Tuesday, February 6th. The software maker reported $0.05 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.07) by $0.12. The firm had revenue of $91.83 million during the quarter, compared to analyst estimates of $89.31 million. New Relic had a negative net margin of 16.17% and a negative return on equity of 25.22%. The business’s revenue was up 34.8% on a year-over-year basis. During the same quarter last year, the business earned ($0.09) EPS. analysts anticipate that New Relic Inc will post -0.77 earnings per share for the current fiscal year.
Several research firms have commented on NEWR. Zacks Investment Research lowered shares of New Relic from a “buy” rating to a “hold” rating in a research report on Friday, March 9th. Robert W. Baird increased their price objective on shares of New Relic from $65.00 to $68.00 and gave the company an “outperform” rating in a research report on Wednesday, February 7th. BMO Capital Markets increased their price objective on shares of New Relic from $68.00 to $71.00 and gave the company a “market perform” rating in a research report on Wednesday, February 7th. Needham & Company LLC increased their price objective on shares of New Relic from $69.00 to $73.00 and gave the company a “buy” rating in a research report on Wednesday, February 7th. Finally, Oppenheimer increased their price objective on shares of New Relic from $57.00 to $66.00 and gave the company an “outperform” rating in a research report on Wednesday, February 7th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $63.71.
ILLEGAL ACTIVITY NOTICE: “New Relic Inc (NEWR) Insider Sells $293,360.00 in Stock” was first published by Ticker Report and is the sole property of of Ticker Report. If you are reading this news story on another website, it was stolen and reposted in violation of US and international copyright & trademark laws. The correct version of this news story can be accessed at https://www.tickerreport.com/banking-finance/3262315/new-relic-inc-newr-insider-sells-293360-00-in-stock.html.
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.
Receive News & Ratings for New Relic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for New Relic and related companies with MarketBeat.com's FREE daily email newsletter.