Insider Selling: New Relic (NEWR) CFO Sells $567,150.00 in Stock

New Relic (NYSE:NEWR) CFO Mark Sachleben sold 7,500 shares of the business’s stock in a transaction on Thursday, April 5th. The stock was sold at an average price of $75.62, for a total transaction of $567,150.00. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Mark Sachleben also recently made the following trade(s):

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  • On Monday, March 19th, Mark Sachleben sold 7,500 shares of New Relic stock. The stock was sold at an average price of $75.51, for a total transaction of $566,325.00.
  • On Friday, March 16th, Mark Sachleben sold 763 shares of New Relic stock. The stock was sold at an average price of $75.90, for a total transaction of $57,911.70.
  • On Monday, March 12th, Mark Sachleben sold 10,000 shares of New Relic stock. The stock was sold at an average price of $74.80, for a total transaction of $748,000.00.
  • On Thursday, March 8th, Mark Sachleben sold 7,500 shares of New Relic stock. The stock was sold at an average price of $75.37, for a total transaction of $565,275.00.
  • On Tuesday, February 20th, Mark Sachleben sold 11,627 shares of New Relic stock. The stock was sold at an average price of $66.97, for a total transaction of $778,660.19.
  • On Monday, February 12th, Mark Sachleben sold 10,000 shares of New Relic stock. The stock was sold at an average price of $64.71, for a total transaction of $647,100.00.
  • On Thursday, February 8th, Mark Sachleben sold 5,000 shares of New Relic stock. The stock was sold at an average price of $64.58, for a total transaction of $322,900.00.
  • On Monday, January 22nd, Mark Sachleben sold 5,000 shares of New Relic stock. The stock was sold at an average price of $57.86, for a total transaction of $289,300.00.
  • On Friday, January 12th, Mark Sachleben sold 10,000 shares of New Relic stock. The stock was sold at an average price of $59.12, for a total transaction of $591,200.00.

NEWR opened at $73.84 on Friday. The firm has a market capitalization of $4,188.04, a P/E ratio of -67.13 and a beta of 0.64. New Relic has a 12-month low of $37.31 and a 12-month high of $79.08.

New Relic (NYSE:NEWR) last posted its quarterly earnings results on Tuesday, February 6th. The software maker reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.12. The firm had revenue of $91.83 million for the quarter, compared to analysts’ expectations of $89.31 million. New Relic had a negative net margin of 16.17% and a negative return on equity of 25.22%. The firm’s quarterly revenue was up 34.8% on a year-over-year basis. During the same period in the prior year, the company posted ($0.09) earnings per share. equities analysts predict that New Relic will post -0.77 EPS for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the business. Crow Point Partners LLC bought a new stake in New Relic during the fourth quarter valued at $113,000. Woodstock Corp bought a new stake in New Relic during the fourth quarter valued at $212,000. Xact Kapitalforvaltning AB bought a new stake in New Relic during the fourth quarter valued at $233,000. Amalgamated Bank bought a new stake in New Relic during the fourth quarter valued at $240,000. Finally, Prudential Financial Inc. bought a new stake in New Relic during the third quarter valued at $269,000. Hedge funds and other institutional investors own 75.77% of the company’s stock.

NEWR has been the topic of a number of recent research reports. ValuEngine raised shares of New Relic from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Needham & Company LLC boosted their target price on shares of New Relic from $73.00 to $84.00 and gave the stock a “buy” rating in a research report on Monday, April 2nd. Zacks Investment Research raised shares of New Relic from a “hold” rating to a “buy” rating and set a $82.00 target price on the stock in a research report on Thursday, March 8th. BMO Capital Markets boosted their target price on shares of New Relic from $68.00 to $71.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 7th. Finally, JPMorgan Chase cut shares of New Relic from an “overweight” rating to a “neutral” rating and set a $62.00 price target on the stock. in a report on Tuesday, December 12th. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $66.57.

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About New Relic

New Relic, Inc, a software-as-a-service company, provides digital intelligence products worldwide. The company's cloud-based platform and suite of products include New Relic Digital Intelligence Platform, which enables organizations to collect, store, and analyze data. It provides New Relic Application Performance Management that offers visibility into the performance and usage of server-based applications, such as data pertaining to response time, transaction throughput, error rates, transactions, and user satisfaction; New Relic Mobile, which provides code-level visibility into the performance of mobile applications running on the iOS and Android mobile operating systems; and New Relic Browser, a product that monitors the page view experiences of actual end-users for desktop and mobile browser-based applications.

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

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