New Relic Inc. (NYSE:NEWR) insider James R. Gochee sold 304 shares of the firm’s stock in a transaction dated Friday, September 16th. The stock was sold at an average price of $36.83, for a total value of $11,196.32. Following the transaction, the insider now owns 387,394 shares in the company, valued at approximately $14,267,721.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of New Relic Inc. (NYSE:NEWR) opened at 38.14 on Friday. The firm’s market cap is $1.94 billion. New Relic Inc. has a 12 month low of $20.39 and a 12 month high of $40.13. The company has a 50-day moving average price of $36.29 and a 200-day moving average price of $30.26.
New Relic (NYSE:NEWR) last issued its earnings results on Tuesday, August 2nd. The company reported ($0.20) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.03. New Relic had a negative return on equity of 34.30% and a negative net margin of 34.91%. The business earned $58.60 million during the quarter, compared to analysts’ expectations of $56.96 million. During the same quarter in the prior year, the firm earned ($0.21) EPS. The business’s revenue for the quarter was up 53.8% compared to the same quarter last year. Analysts forecast that New Relic Inc. will post ($0.62) earnings per share for the current fiscal year.
Several large investors have recently added to or reduced their stakes in the stock. Teacher Retirement System of Texas raised its stake in New Relic by 27.4% in the second quarter. Teacher Retirement System of Texas now owns 3,429 shares of the company’s stock worth $101,000 after buying an additional 737 shares during the period. Paradigm Asset Management Co. LLC raised its stake in New Relic by 15.2% in the second quarter. Paradigm Asset Management Co. LLC now owns 3,800 shares of the company’s stock worth $112,000 after buying an additional 500 shares during the period. Clinton Group Inc. bought a new stake in New Relic during the second quarter worth approximately $239,000. UBS Asset Management Americas Inc. bought a new stake in New Relic during the second quarter worth approximately $247,000. Finally, Citigroup Inc. raised its stake in New Relic by 62.6% in the second quarter. Citigroup Inc. now owns 9,775 shares of the company’s stock worth $287,000 after buying an additional 3,763 shares during the period. Hedge funds and other institutional investors own 58.44% of the company’s stock.
A number of research firms have recently commented on NEWR. Cowen and Company began coverage on New Relic in a research report on Friday, June 24th. They set an “outperform” rating and a $38.00 price target on the stock. Oppenheimer Holdings Inc. reaffirmed a “buy” rating on shares of New Relic in a research report on Saturday, June 4th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $38.00.
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.
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