Lewis Cirne Sells 39,000 Shares of New Relic Inc. (NEWR) Stock
New Relic Inc. (NYSE:NEWR) CEO Lewis Cirne sold 39,000 shares of the stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $37.95, for a total value of $1,480,050.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.
Lewis Cirne also recently made the following trade(s):
- On Thursday, September 1st, Lewis Cirne sold 39,000 shares of New Relic stock. The shares were sold at an average price of $36.65, for a total value of $1,429,350.00.
- On Monday, August 1st, Lewis Cirne sold 39,000 shares of New Relic stock. The shares were sold at an average price of $33.87, for a total value of $1,320,930.00.
New Relic Inc. (NYSE:NEWR) opened at 37.08 on Thursday. New Relic Inc. has a 12-month low of $20.39 and a 12-month high of $40.13. The stock’s market cap is $1.89 billion. The stock’s 50 day moving average price is $36.93 and its 200 day moving average price is $31.05.
New Relic (NYSE:NEWR) last posted its earnings results on Tuesday, August 2nd. The company reported ($0.20) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.23) by $0.03. The company had revenue of $58.60 million for the quarter, compared to analyst estimates of $56.96 million. New Relic had a negative return on equity of 34.30% and a negative net margin of 34.91%. New Relic’s revenue was up 53.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.21) earnings per share. Analysts forecast that New Relic Inc. will post ($0.62) EPS for the current fiscal year.
A number of hedge funds have recently bought and sold shares of NEWR. Charles Stewart Mott Foundation purchased a new stake in New Relic during the second quarter valued at $1,309,000. California State Teachers Retirement System increased its stake in shares of New Relic by 275.5% in the second quarter. California State Teachers Retirement System now owns 46,051 shares of the company’s stock valued at $1,353,000 after buying an additional 33,788 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of New Relic by 31.9% in the second quarter. Bank of New York Mellon Corp now owns 126,142 shares of the company’s stock valued at $3,706,000 after buying an additional 30,519 shares in the last quarter. Gilder Gagnon Howe & Co. LLC increased its stake in shares of New Relic by 50.8% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 133,254 shares of the company’s stock valued at $3,915,000 after buying an additional 44,918 shares in the last quarter. Finally, Tocqueville Asset Management L.P. bought a new stake in shares of New Relic during the second quarter valued at about $1,277,000. 58.44% of the stock is currently owned by institutional investors.
A number of research analysts have recently issued reports on the company. Morgan Stanley set a $43.00 target price on New Relic and gave the company a “buy” rating in a research report on Wednesday, September 28th. Cowen and Company began coverage on New Relic in a report on Friday, June 24th. They issued an “outperform” rating and a $38.00 price objective on the stock. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. New Relic presently has a consensus rating of “Buy” and a consensus price target of $38.50.
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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