New Relic Inc (NYSE:NEWR) CRO Erica Schultz sold 3,623 shares of the firm’s stock in a transaction on Thursday, August 16th. The stock was sold at an average price of $103.03, for a total value of $373,277.69. Following the completion of the sale, the executive now directly owns 22,066 shares of the company’s stock, valued at approximately $2,273,459.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Erica Schultz also recently made the following trade(s):
- On Monday, July 16th, Erica Schultz sold 1,800 shares of New Relic stock. The stock was sold at an average price of $106.74, for a total value of $192,132.00.
- On Friday, June 15th, Erica Schultz sold 1,800 shares of New Relic stock. The stock was sold at an average price of $108.40, for a total value of $195,120.00.
- On Monday, June 18th, Erica Schultz sold 2,689 shares of New Relic stock. The stock was sold at an average price of $108.64, for a total value of $292,132.96.
NEWR opened at $100.49 on Monday. The firm has a market cap of $5.98 billion, a P/E ratio of -135.80 and a beta of 0.77. New Relic Inc has a 1 year low of $45.32 and a 1 year high of $114.78. The company has a quick ratio of 3.83, a current ratio of 3.83 and a debt-to-equity ratio of 1.28.
New Relic (NYSE:NEWR) last released its quarterly earnings data on Tuesday, August 7th. The software maker reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.04. The firm had revenue of $108.22 million during the quarter, compared to analysts’ expectations of $106.09 million. New Relic had a negative return on equity of 12.19% and a negative net margin of 9.13%. analysts predict that New Relic Inc will post -0.38 earnings per share for the current year.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN raised its holdings in New Relic by 103.8% during the first quarter. Wells Fargo & Company MN now owns 205,706 shares of the software maker’s stock valued at $15,247,000 after buying an additional 104,765 shares in the last quarter. Dupont Capital Management Corp bought a new position in New Relic during the first quarter valued at about $1,036,000. SFE Investment Counsel bought a new position in New Relic during the first quarter valued at about $233,000. SG Americas Securities LLC bought a new position in New Relic during the first quarter valued at about $265,000. Finally, Mackay Shields LLC bought a new position in New Relic during the first quarter valued at about $800,000. 71.87% of the stock is owned by hedge funds and other institutional investors.
Several brokerages have recently commented on NEWR. Zacks Investment Research raised New Relic from a “hold” rating to a “buy” rating and set a $118.00 target price for the company in a research report on Tuesday, August 14th. Deutsche Bank assumed coverage on New Relic in a research report on Monday, June 25th. They issued a “buy” rating and a $125.00 target price for the company. Morgan Stanley lifted their price objective on New Relic from $80.00 to $102.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 8th. Robert W. Baird lifted their price objective on New Relic from $88.00 to $115.00 and gave the company an “outperform” rating in a research report on Tuesday, June 5th. Finally, Needham & Company LLC reissued a “buy” rating and set a $121.00 price objective on shares of New Relic in a research report on Tuesday, June 5th. Eight investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $99.13.
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.
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