New Relic Inc (NEWR) CFO Mark Sachleben Sells 835 Shares

New Relic Inc (NYSE:NEWR) CFO Mark Sachleben sold 835 shares of the firm’s stock in a transaction on Thursday, March 16th. The stock was sold at an average price of $37.07, for a total value of $30,953.45. Following the transaction, the chief financial officer now owns 2,203 shares of the company’s stock, valued at $81,665.21. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

  • On Monday, March 6th, Mark Sachleben sold 3,500 shares of New Relic stock. The stock was sold at an average price of $36.81, for a total value of $128,835.00.
  • On Monday, February 27th, Mark Sachleben sold 3,500 shares of New Relic stock. The stock was sold at an average price of $33.67, for a total value of $117,845.00.
  • On Friday, February 17th, Mark Sachleben sold 706 shares of New Relic stock. The stock was sold at an average price of $34.65, for a total value of $24,462.90.
  • On Thursday, February 16th, Mark Sachleben sold 1,059 shares of New Relic stock. The stock was sold at an average price of $34.87, for a total value of $36,927.33.
  • On Monday, February 6th, Mark Sachleben sold 3,500 shares of New Relic stock. The stock was sold at an average price of $37.00, for a total value of $129,500.00.
  • On Monday, January 23rd, Mark Sachleben sold 3,500 shares of New Relic stock. The stock was sold at an average price of $32.58, for a total value of $114,030.00.
  • On Tuesday, January 17th, Mark Sachleben sold 8,000 shares of New Relic stock. The stock was sold at an average price of $31.54, for a total value of $252,320.00.
  • On Monday, January 9th, Mark Sachleben sold 3,500 shares of New Relic stock. The stock was sold at an average price of $30.55, for a total value of $106,925.00.
  • On Tuesday, December 27th, Mark Sachleben sold 3,500 shares of New Relic stock. The stock was sold at an average price of $28.24, for a total value of $98,840.00.
  • On Tuesday, December 20th, Mark Sachleben sold 1,382 shares of New Relic stock. The stock was sold at an average price of $28.77, for a total value of $39,760.14.

New Relic Inc (NYSE:NEWR) traded up 1.23% on Monday, reaching $36.96. The company had a trading volume of 251,759 shares. The firm’s market capitalization is $1.95 billion. New Relic Inc has a 52-week low of $23.45 and a 52-week high of $40.10. The stock’s 50-day moving average price is $36.05 and its 200 day moving average price is $34.38.

New Relic (NYSE:NEWR) last issued its quarterly earnings results on Tuesday, February 7th. The company reported ($0.09) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.14) by $0.05. The company earned $68.10 million during the quarter, compared to the consensus estimate of $66.32 million. New Relic had a negative return on equity of 32.99% and a negative net margin of 26.90%. New Relic’s revenue was up 42.6% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.22) EPS. On average, equities analysts anticipate that New Relic Inc will post ($0.53) earnings per share for the current fiscal year.

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

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A number of research analysts recently issued reports on the company. Oppenheimer Holdings Inc. set a $40.00 target price on New Relic and gave the company a “buy” rating in a report on Saturday, March 11th. Cowen and Company reiterated an “outperform” rating and issued a $44.00 target price (up from $38.00) on shares of New Relic in a report on Wednesday, February 8th. Pacific Crest reiterated an “overweight” rating on shares of New Relic in a report on Friday, January 27th. Robert W. Baird upgraded New Relic from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $38.00 to $40.00 in a report on Tuesday, February 28th. Finally, DA Davidson set a $49.00 target price on New Relic and gave the company a “buy” rating in a report on Tuesday, November 22nd. One analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. New Relic presently has a consensus rating of “Buy” and a consensus price target of $43.43.

A number of hedge funds and other institutional investors have recently modified their holdings of NEWR. Hamilton Lane Advisors LLC increased its position in shares of New Relic by 28.6% in the third quarter. Hamilton Lane Advisors LLC now owns 75,301 shares of the company’s stock valued at $2,886,000 after buying an additional 16,753 shares during the period. Brighton Jones LLC increased its position in shares of New Relic by 41.2% in the third quarter. Brighton Jones LLC now owns 68,600 shares of the company’s stock valued at $2,629,000 after buying an additional 20,000 shares during the period. Sumitomo Mitsui Asset Management Company LTD increased its position in shares of New Relic by 1,330.9% in the third quarter. Sumitomo Mitsui Asset Management Company LTD now owns 364,875 shares of the company’s stock valued at $13,982,000 after buying an additional 339,375 shares during the period. Bradley Foster & Sargent Inc. CT increased its position in shares of New Relic by 47.6% in the third quarter. Bradley Foster & Sargent Inc. CT now owns 59,870 shares of the company’s stock valued at $2,294,000 after buying an additional 19,310 shares during the period. Finally, Tocqueville Asset Management L.P. increased its position in shares of New Relic by 101.4% in the third quarter. Tocqueville Asset Management L.P. now owns 87,575 shares of the company’s stock valued at $3,356,000 after buying an additional 44,100 shares during the period. Institutional investors own 63.71% of the company’s stock.

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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