New Relic Inc (NEWR) VP Robin Schulman Sells 298 Shares of Stock

New Relic Inc (NYSE:NEWR) VP Robin Schulman sold 298 shares of the stock in a transaction that occurred on Thursday, March 16th. The shares were sold at an average price of $37.11, for a total transaction of $11,058.78. Following the sale, the vice president now directly owns 1,364 shares of the company’s stock, valued at $50,618.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Robin Schulman also recently made the following trade(s):

  • On Thursday, March 9th, Robin Schulman sold 3,649 shares of New Relic stock. The shares were sold at an average price of $36.96, for a total transaction of $134,867.04.
  • On Tuesday, February 21st, Robin Schulman sold 247 shares of New Relic stock. The shares were sold at an average price of $35.72, for a total transaction of $8,822.84.
  • On Thursday, February 16th, Robin Schulman sold 489 shares of New Relic stock. The shares were sold at an average price of $34.89, for a total transaction of $17,061.21.
  • On Wednesday, January 25th, Robin Schulman sold 3,131 shares of New Relic stock. The shares were sold at an average price of $40.00, for a total transaction of $125,240.00.
  • On Tuesday, December 20th, Robin Schulman sold 329 shares of New Relic stock. The shares were sold at an average price of $28.77, for a total transaction of $9,465.33.

Shares of New Relic Inc (NYSE:NEWR) traded up 1.23% during midday trading on Monday, hitting $36.96. 251,759 shares of the company traded hands. New Relic Inc has a 12-month low of $23.45 and a 12-month high of $40.10. The stock’s 50-day moving average is $36.05 and its 200 day moving average is $34.38. The stock’s market capitalization is $1.95 billion.

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

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

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Large investors have recently modified their holdings of the company. Focused Wealth Management Inc boosted its stake in shares of New Relic by 7.5% in the fourth quarter. Focused Wealth Management Inc now owns 4,290 shares of the company’s stock valued at $121,000 after buying an additional 300 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in shares of New Relic during the fourth quarter valued at approximately $212,000. Wrapmanager Inc. acquired a new stake in shares of New Relic during the fourth quarter valued at approximately $239,000. Sei Investments Co. boosted its stake in shares of New Relic by 116.0% in the third quarter. Sei Investments Co. now owns 6,431 shares of the company’s stock valued at $246,000 after buying an additional 3,454 shares in the last quarter. Finally, Ancora Advisors LLC acquired a new stake in shares of New Relic during the fourth quarter valued at approximately $248,000. Institutional investors own 63.71% of the company’s stock.

NEWR has been the subject of several research analyst reports. DA Davidson set a $49.00 price target on shares of New Relic and gave the company a “buy” rating in a research report on Tuesday, November 22nd. Oppenheimer Holdings Inc. set a $40.00 price target on shares of New Relic and gave the company a “buy” rating in a research report on Monday, November 28th. Robert W. Baird restated a “hold” rating on shares of New Relic in a research report on Wednesday, January 25th. Cowen and Company restated an “outperform” rating and issued a $38.00 price target on shares of New Relic in a research report on Wednesday, January 25th. Finally, Pacific Crest restated an “overweight” rating on shares of New Relic in a research report on Friday, January 27th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $43.43.

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.

5 Day Chart for NYSE:NEWR

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