New Relic Inc. (NYSE:NEWR) insider James R. Gochee sold 4,000 shares of the firm’s stock in a transaction on Wednesday, September 14th. The stock was sold at an average price of $36.05, for a total value of $144,200.00. Following the completion of the transaction, the insider now owns 390,565 shares in the company, valued at $14,079,868.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Shares of New Relic Inc. (NYSE:NEWR) opened at 37.76 on Tuesday. The firm has a 50 day moving average price of $35.96 and a 200 day moving average price of $30.08. The firm’s market cap is $1.92 billion. New Relic Inc. has a 1-year low of $20.39 and a 1-year high of $40.13.

New Relic (NYSE:NEWR) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported ($0.20) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.23) by $0.03. The company earned $58.60 million during the quarter, compared to the consensus estimate of $56.96 million. New Relic had a negative net margin of 34.91% and a negative return on equity of 34.30%. The company’s revenue for the quarter was up 53.8% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.21) earnings per share. Analysts anticipate that New Relic Inc. will post ($0.62) EPS for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Teacher Retirement System of Texas increased its position in shares of New Relic by 27.4% in the second quarter. Teacher Retirement System of Texas now owns 3,429 shares of the company’s stock valued at $101,000 after buying an additional 737 shares during the period. Paradigm Asset Management Co. LLC boosted its stake in shares of New Relic by 15.2% in the second quarter. Paradigm Asset Management Co. LLC now owns 3,800 shares of the company’s stock valued at $112,000 after buying an additional 500 shares in the last quarter. Clinton Group Inc. acquired a new stake in shares of New Relic during the second quarter valued at $239,000. UBS Asset Management Americas Inc. acquired a new stake in shares of New Relic during the second quarter valued at $247,000. Finally, Citigroup Inc. boosted its stake in shares of New Relic by 62.6% in the second quarter. Citigroup Inc. now owns 9,775 shares of the company’s stock valued at $287,000 after buying an additional 3,763 shares in the last quarter. Institutional investors own 58.79% of the company’s stock.

NEWR has been the topic of several research analyst reports. Oppenheimer Holdings Inc. reaffirmed a “buy” rating on shares of New Relic in a research note on Saturday, June 4th. Cowen and Company initiated coverage on New Relic in a research note on Friday, June 24th. They set an “outperform” rating and a $38.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $38.00.

New Relic Company Profile

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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