New Relic Inc (NYSE:NEWR) CTO James R. Gochee sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $60.34, for a total transaction of $241,360.00. Following the completion of the transaction, the chief technology officer now owns 124,823 shares in the company, valued at $7,531,819.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of NYSE NEWR opened at $58.41 on Friday. New Relic Inc has a one year low of $54.83 and a one year high of $109.51. The company has a current ratio of 2.88, a quick ratio of 2.88 and a debt-to-equity ratio of 1.32. The firm’s 50 day simple moving average is $66.98 and its two-hundred day simple moving average is $90.51.
New Relic (NYSE:NEWR) last issued its quarterly earnings results on Tuesday, August 6th. The software maker reported ($0.16) EPS for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.02. New Relic had a negative net margin of 9.93% and a negative return on equity of 8.55%. The business had revenue of $141.01 million for the quarter, compared to analysts’ expectations of $139.73 million. During the same period last year, the business earned $0.15 earnings per share. The business’s quarterly revenue was up 30.3% on a year-over-year basis. On average, equities analysts anticipate that New Relic Inc will post -0.68 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently modified their holdings of the business. Cornerstone Advisors Inc. grew its position in New Relic by 58.4% during the first quarter. Cornerstone Advisors Inc. now owns 358 shares of the software maker’s stock valued at $35,000 after acquiring an additional 132 shares during the last quarter. Evolution Wealth Advisors LLC bought a new position in New Relic during the first quarter valued at approximately $42,000. Point72 Hong Kong Ltd bought a new position in shares of New Relic in the second quarter worth approximately $55,000. Flinton Capital Management LLC grew its holdings in shares of New Relic by 51.9% in the second quarter. Flinton Capital Management LLC now owns 656 shares of the software maker’s stock worth $57,000 after purchasing an additional 224 shares during the last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of New Relic by 255.8% in the first quarter. Victory Capital Management Inc. now owns 587 shares of the software maker’s stock worth $58,000 after purchasing an additional 422 shares during the last quarter. Institutional investors and hedge funds own 80.08% of the company’s stock.
NEWR has been the topic of several research analyst reports. Barclays initiated coverage on shares of New Relic in a research report on Monday, August 26th. They issued an “equal weight” rating and a $63.00 price objective on the stock. Morgan Stanley decreased their price objective on shares of New Relic from $104.00 to $84.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 21st. UBS Group set a $73.00 price objective on shares of New Relic and gave the stock a “hold” rating in a research report on Wednesday, August 7th. Raymond James cut shares of New Relic from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 7th. Finally, BMO Capital Markets decreased their price objective on shares of New Relic to $73.00 and set a “positive” rating on the stock in a research report on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the stock. New Relic presently has a consensus rating of “Hold” and an average price target of $96.67.
About New Relic
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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