New Relic Inc (NYSE:NEWR) insider James R. Gochee sold 333 shares of New Relic stock in a transaction on Friday, March 16th. The stock was sold at an average price of $75.90, for a total transaction of $25,274.70. Following the sale, the insider now owns 329,275 shares in the company, valued at approximately $24,991,972.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Shares of New Relic Inc (NYSE NEWR) traded down $0.06 during trading hours on Friday, hitting $75.75. 505,097 shares of the stock traded hands, compared to its average volume of 491,282. New Relic Inc has a 52 week low of $34.61 and a 52 week high of $76.54. The firm has a market cap of $4,203.01, a P/E ratio of -76.51 and a beta of 0.67.
New Relic (NYSE:NEWR) last issued its earnings results on Tuesday, February 6th. The software maker reported $0.05 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.07) by $0.12. New Relic had a negative net margin of 16.17% and a negative return on equity of 25.22%. The company had revenue of $91.83 million for the quarter, compared to the consensus estimate of $89.31 million. During the same quarter in the previous year, the company earned ($0.09) EPS. The firm’s revenue for the quarter was up 34.8% compared to the same quarter last year. analysts predict that New Relic Inc will post -0.77 EPS for the current year.
NEWR has been the topic of a number of recent research reports. JPMorgan Chase & Co. downgraded shares of New Relic from an “overweight” rating to a “neutral” rating and set a $62.00 price target on the stock. in a research note on Tuesday, December 12th. BMO Capital Markets initiated coverage on shares of New Relic in a research note on Friday, January 12th. They set a “market perform” rating and a $68.00 price target on the stock. Stephens lifted their price target on shares of New Relic from $60.00 to $70.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 7th. Robert W. Baird lifted their price target on shares of New Relic from $65.00 to $68.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 7th. Finally, Needham & Company LLC lifted their price target on shares of New Relic from $69.00 to $73.00 and gave the stock a “buy” rating in a research note on Wednesday, February 7th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $63.71.
TRADEMARK VIOLATION NOTICE: This story was originally posted by Ticker Report and is the sole property of of Ticker Report. If you are accessing this story on another domain, it was illegally copied and reposted in violation of U.S. and international trademark & copyright law. The correct version of this story can be read at https://www.tickerreport.com/banking-finance/3272793/james-r-gochee-sells-333-shares-of-new-relic-inc-newr-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.