New Relic Inc. (NEWR) President Hilarie A. Koplow Sells 5,312 Shares
New Relic Inc. (NYSE:NEWR) President Hilarie A. Koplow sold 5,312 shares of New Relic stock in a transaction that occurred on Monday, October 10th. The shares were sold at an average price of $36.84, for a total value of $195,694.08. Following the transaction, the president now owns 7,048 shares of the company’s stock, valued at $259,648.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Shares of New Relic Inc. (NYSE:NEWR) opened at 35.82 on Thursday. The stock has a 50 day moving average price of $37.10 and a 200-day moving average price of $31.44. The stock’s market capitalization is $1.82 billion. New Relic Inc. has a 52-week low of $20.39 and a 52-week high of $40.13.
New Relic (NYSE:NEWR) last issued its earnings results on Tuesday, August 2nd. The company reported ($0.20) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.03. The business earned $58.60 million during the quarter, compared to the consensus estimate of $56.96 million. New Relic had a negative return on equity of 34.30% and a negative net margin of 34.91%. The company’s revenue for the quarter was up 53.8% on a year-over-year basis. During the same period in the prior year, the business posted ($0.21) EPS. On average, equities research analysts anticipate that New Relic Inc. will post ($0.62) EPS for the current fiscal year.
Several brokerages recently weighed in on NEWR. Morgan Stanley set a $43.00 price target 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 research report on Friday, June 24th. They set an “outperform” rating and a $38.00 price target for the company. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $38.50.
Institutional investors have recently modified their holdings of the company. State Board of Administration of Florida Retirement System increased its position in shares of New Relic by 0.8% in the second quarter. State Board of Administration of Florida Retirement System now owns 15,182 shares of the company’s stock worth $446,000 after buying an additional 120 shares during the period. Parametric Portfolio Associates LLC increased its position in shares of New Relic by 1.3% in the second quarter. Parametric Portfolio Associates LLC now owns 14,155 shares of the company’s stock worth $416,000 after buying an additional 176 shares during the period. TD Asset Management Inc. increased its position in shares of New Relic by 0.7% in the second quarter. TD Asset Management Inc. now owns 55,380 shares of the company’s stock worth $1,627,000 after buying an additional 400 shares during the period. Paradigm Asset Management Co. LLC increased its position 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 worth $112,000 after buying an additional 500 shares during the period. Finally, 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 worth $101,000 after buying an additional 737 shares during the period. 58.44% of the stock is owned by institutional investors and hedge funds.
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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