Insider Selling: New Relic Inc (NYSE:NEWR) CRO Sells 4,340 Shares of Stock

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New Relic Inc (NYSE:NEWR) CRO Erica Schultz sold 4,340 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $58.21, for a total transaction of $252,631.40. Following the sale, the executive now directly owns 22,002 shares of the company’s stock, valued at approximately $1,280,736.42. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Erica Schultz also recently made the following trade(s):

  • On Friday, August 16th, Erica Schultz sold 2,154 shares of New Relic stock. The shares were sold at an average price of $58.97, for a total transaction of $127,021.38.
  • On Wednesday, May 22nd, Erica Schultz sold 2,500 shares of New Relic stock. The shares were sold at an average price of $96.92, for a total transaction of $242,300.00.

NYSE:NEWR opened at $57.40 on Thursday. The company has a 50-day moving average price of $81.84 and a 200-day moving average price of $95.74. New Relic Inc has a 12 month low of $55.60 and a 12 month high of $113.34. The company has a current ratio of 2.88, a quick ratio of 2.88 and a debt-to-equity ratio of 1.32. The stock has a market cap of $3.36 billion, a price-to-earnings ratio of -185.16 and a beta of 0.83.

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

Several equities research analysts have weighed in on NEWR shares. Raymond James cut shares of New Relic from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 7th. Needham & Company LLC set a $120.00 price target on shares of New Relic and gave the company a “buy” rating in a research report on Wednesday, August 7th. First Analysis cut shares of New Relic from a “strong-buy” rating to a “neutral” rating and set a $80.00 price target for the company. in a research report on Wednesday, August 7th. Goldman Sachs Group initiated coverage on shares of New Relic in a research report on Friday, June 7th. They set a “sell” rating and a $83.00 price target for the company. Finally, Oppenheimer dropped their target price on shares of New Relic from $125.00 to $109.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and ten have issued a buy rating to the company’s stock. New Relic presently has an average rating of “Buy” and a consensus price target of $99.07.

Several institutional investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD increased its stake in shares of New Relic by 7,220.5% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 4,834,359 shares of the software maker’s stock worth $418,220,000 after acquiring an additional 4,768,320 shares in the last quarter. BlackRock Inc. increased its stake in shares of New Relic by 2.3% in the 1st quarter. BlackRock Inc. now owns 3,880,134 shares of the software maker’s stock worth $382,970,000 after acquiring an additional 87,904 shares in the last quarter. First Trust Advisors LP increased its stake in shares of New Relic by 24.7% in the 2nd quarter. First Trust Advisors LP now owns 1,516,324 shares of the software maker’s stock worth $131,177,000 after acquiring an additional 300,484 shares in the last quarter. Clearbridge Investments LLC increased its stake in shares of New Relic by 1.6% in the 1st quarter. Clearbridge Investments LLC now owns 1,495,239 shares of the software maker’s stock worth $147,580,000 after acquiring an additional 23,079 shares in the last quarter. Finally, Baillie Gifford & Co. increased its stake in shares of New Relic by 23.7% in the 2nd quarter. Baillie Gifford & Co. now owns 1,259,823 shares of the software maker’s stock worth $108,987,000 after acquiring an additional 241,662 shares in the last quarter. Institutional investors own 74.72% of the company’s stock.

New Relic Company Profile

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.

Further Reading: What is a Reverse Stock Split?

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

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