New Relic Inc (NYSE:NEWR) CFO Mark Sachleben Sells 4,627 Shares

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New Relic Inc (NYSE:NEWR) CFO Mark Sachleben sold 4,627 shares of the business’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $58.50, for a total transaction of $270,679.50. Following the completion of the sale, the chief financial officer now owns 1,834 shares in the company, valued at approximately $107,289. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

  • On Friday, August 16th, Mark Sachleben sold 2,295 shares of New Relic stock. The stock was sold at an average price of $58.95, for a total transaction of $135,290.25.
  • On Tuesday, August 13th, Mark Sachleben sold 10,000 shares of New Relic stock. The stock was sold at an average price of $63.21, for a total transaction of $632,100.00.
  • On Monday, July 15th, Mark Sachleben sold 15,000 shares of New Relic stock. The stock was sold at an average price of $93.65, for a total transaction of $1,404,750.00.
  • On Tuesday, June 18th, Mark Sachleben sold 15,000 shares of New Relic stock. The stock was sold at an average price of $96.98, for a total transaction of $1,454,700.00.

NYSE NEWR opened at $57.40 on Thursday. The company has a quick ratio of 2.88, a current ratio of 2.88 and a debt-to-equity ratio of 1.32. The company has a fifty day moving average of $81.84 and a two-hundred day moving average of $95.74. The firm has a market capitalization of $3.36 billion, a price-to-earnings ratio of -185.16 and a beta of 0.83. New Relic Inc has a 52 week low of $55.60 and a 52 week high of $113.34.

New Relic (NYSE:NEWR) last posted its quarterly earnings data on Tuesday, August 6th. The software maker reported ($0.16) EPS for the quarter, topping the consensus estimate of ($0.18) by $0.02. The company had revenue of $141.01 million during the quarter, compared to analyst estimates of $139.73 million. New Relic had a negative net margin of 9.93% and a negative return on equity of 8.55%. New Relic’s quarterly revenue was up 30.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.15 earnings per share. Equities research analysts anticipate that New Relic Inc will post -0.68 EPS for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of NEWR. Ladenburg Thalmann Financial Services Inc. lifted its stake in New Relic by 17.7% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,037 shares of the software maker’s stock worth $353,000 after acquiring an additional 608 shares during the period. Eaton Vance Management lifted its stake in New Relic by 10.4% in the second quarter. Eaton Vance Management now owns 26,500 shares of the software maker’s stock worth $2,293,000 after acquiring an additional 2,500 shares during the period. Ashford Capital Management Inc. lifted its stake in New Relic by 10.3% in the second quarter. Ashford Capital Management Inc. now owns 136,380 shares of the software maker’s stock worth $11,798,000 after acquiring an additional 12,700 shares during the period. Vista Equity Partners Management LLC lifted its stake in New Relic by 59.4% in the second quarter. Vista Equity Partners Management LLC now owns 348,395 shares of the software maker’s stock worth $30,140,000 after acquiring an additional 129,822 shares during the period. Finally, Nuveen Asset Management LLC lifted its stake in New Relic by 1,297.4% in the second quarter. Nuveen Asset Management LLC now owns 397,195 shares of the software maker’s stock worth $34,361,000 after acquiring an additional 368,771 shares during the period. 74.72% of the stock is owned by institutional investors.

Several brokerages recently weighed in on NEWR. Goldman Sachs Group began coverage on shares of New Relic in a research report on Friday, June 7th. They issued a “sell” rating and a $83.00 price target on the stock. Needham & Company LLC set a $120.00 price target on shares of New Relic and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Raymond James cut shares of New Relic from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 7th. Zacks Investment Research upgraded shares of New Relic from a “sell” rating to a “hold” rating in a research report on Tuesday. Finally, Oppenheimer reduced their price target on shares of New Relic from $125.00 to $109.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $99.07.

About New Relic

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

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