Lewis Cirne Sells 33,000 Shares of New Relic, Inc. (NEWR) Stock
New Relic, Inc. (NYSE:NEWR) CEO Lewis Cirne sold 33,000 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $46.12, for a total value of $1,521,960.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Lewis Cirne also recently made the following trade(s):
- On Monday, July 10th, Lewis Cirne sold 33,000 shares of New Relic stock. The shares were sold at an average price of $44.53, for a total value of $1,469,490.00.
- On Wednesday, June 7th, Lewis Cirne sold 33,000 shares of New Relic stock. The shares were sold at an average price of $43.68, for a total value of $1,441,440.00.
Shares of New Relic, Inc. (NYSE NEWR) opened at 45.15 on Tuesday. New Relic, Inc. has a 1-year low of $27.85 and a 1-year high of $49.19. The stock’s market cap is $2.42 billion. The stock’s 50 day moving average price is $45.07 and its 200 day moving average price is $40.13.
New Relic (NYSE:NEWR) last announced its quarterly earnings results on Thursday, August 3rd. The software maker reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.03. The business had revenue of $80.10 million for the quarter, compared to the consensus estimate of $78.09 million. New Relic had a negative return on equity of 29.36% and a negative net margin of 20.68%. The business’s revenue was up 36.7% on a year-over-year basis. During the same quarter last year, the business posted ($0.20) EPS. On average, equities research analysts anticipate that New Relic, Inc. will post ($0.25) EPS for the current fiscal year.
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A number of brokerages have weighed in on NEWR. First Analysis cut New Relic from an “overweight” rating to an “equal weight” rating in a research note on Friday. UBS AG boosted their price objective on New Relic from $42.00 to $47.00 and gave the company a “neutral” rating in a research note on Friday. BidaskClub cut New Relic from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Zacks Investment Research cut New Relic from a “buy” rating to a “hold” rating in a research note on Tuesday, May 16th. Finally, Stephens began coverage on New Relic in a research note on Thursday, May 25th. They issued an “overweight” rating and a $55.00 price objective for the company. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $47.10.
Several hedge funds have recently made changes to their positions in NEWR. Botty Investors LLC increased its stake in shares of New Relic by 23.5% in the second quarter. Botty Investors LLC now owns 2,809 shares of the software maker’s stock valued at $121,000 after buying an additional 535 shares during the period. BNP Paribas Arbitrage SA increased its stake in shares of New Relic by 507.2% in the second quarter. BNP Paribas Arbitrage SA now owns 3,813 shares of the software maker’s stock valued at $164,000 after buying an additional 3,185 shares during the period. Turner Investments LLC bought a new stake in shares of New Relic during the second quarter valued at about $194,000. Fortaleza Asset Management Inc. increased its stake in shares of New Relic by 73.8% in the first quarter. Fortaleza Asset Management Inc. now owns 4,910 shares of the software maker’s stock valued at $182,000 after buying an additional 2,085 shares during the period. Finally, Diversified Trust Co bought a new stake in shares of New Relic during the second quarter valued at about $219,000. 71.33% of the stock is currently 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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