New Relic Inc. (NYSE:NEWR) insider James R. Gochee sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 12th. The shares were sold at an average price of $36.15, for a total transaction of $144,600.00. Following the sale, the insider now directly owns 383,090 shares of the company’s stock, valued at $13,848,703.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
New Relic Inc. (NYSE:NEWR) opened at 35.55 on Monday. The company’s market cap is $1.81 billion. New Relic Inc. has a 12 month low of $20.39 and a 12 month high of $40.13. The company’s 50 day moving average is $37.07 and its 200-day moving average is $31.55.
New Relic (NYSE:NEWR) last released its earnings results on Tuesday, August 2nd. The company reported ($0.20) EPS for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.03. The company earned $58.60 million during the quarter, compared to analysts’ expectations of $56.96 million. New Relic had a negative net margin of 34.91% and a negative return on equity of 34.30%. New Relic’s revenue for the quarter was up 53.8% on a year-over-year basis. During the same period last year, the business earned ($0.21) EPS. On average, analysts expect that New Relic Inc. will post ($0.62) earnings per share for the current fiscal year.
A number of hedge funds have recently added to or reduced their stakes in NEWR. Polar Capital LLP bought a new stake in New Relic during the second quarter worth approximately $11,418,000. BlackRock Fund Advisors boosted its stake in shares of New Relic by 251.6% in the second quarter. BlackRock Fund Advisors now owns 527,586 shares of the company’s stock valued at $15,500,000 after buying an additional 377,522 shares during the last quarter. State Street Corp boosted its stake in shares of New Relic by 215.5% in the second quarter. State Street Corp now owns 336,324 shares of the company’s stock valued at $9,883,000 after buying an additional 229,727 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of New Relic by 13.6% in the second quarter. Vanguard Group Inc. now owns 1,862,972 shares of the company’s stock valued at $54,734,000 after buying an additional 223,679 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its stake in shares of New Relic by 59.1% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 541,253 shares of the company’s stock valued at $15,902,000 after buying an additional 200,994 shares during the last quarter. Institutional investors own 58.35% of the company’s stock.
A number of analysts have commented on the stock. Morgan Stanley set a $43.00 target price on shares of New Relic and gave the company a “buy” rating in a report on Wednesday, September 28th. Cowen and Company began coverage on shares of New Relic in a research note on Friday, June 24th. They issued an “outperform” rating and a $38.00 price objective for the company. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. New Relic has a consensus rating of “Buy” and an average price target of $38.50.
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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