New Relic Inc (NYSE:NEWR) insider James R. Gochee sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 12th. The stock was sold at an average price of $109.38, for a total value of $437,520.00. Following the transaction, the insider now directly owns 310,459 shares in the company, valued at approximately $33,958,005.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

NYSE NEWR opened at $107.65 on Friday. The company has a debt-to-equity ratio of 1.28, a quick ratio of 3.83 and a current ratio of 3.83. New Relic Inc has a fifty-two week low of $46.24 and a fifty-two week high of $114.78.

New Relic (NYSE:NEWR) last released its earnings results on Tuesday, August 7th. The software maker reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.04. New Relic had a negative return on equity of 12.19% and a negative net margin of 9.13%. The firm had revenue of $108.22 million during the quarter, compared to analysts’ expectations of $106.09 million. sell-side analysts forecast that New Relic Inc will post -0.38 EPS for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC lifted its stake in New Relic by 95.1% during the second quarter. Tower Research Capital LLC TRC now owns 1,198 shares of the software maker’s stock worth $121,000 after purchasing an additional 584 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in New Relic by 43.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,553 shares of the software maker’s stock worth $257,000 after purchasing an additional 768 shares during the last quarter. Xact Kapitalforvaltning AB lifted its stake in shares of New Relic by 24.8% in the 1st quarter. Xact Kapitalforvaltning AB now owns 5,037 shares of the software maker’s stock valued at $373,000 after acquiring an additional 1,000 shares during the last quarter. Gagnon Advisors LLC lifted its stake in shares of New Relic by 1.4% in the 2nd quarter. Gagnon Advisors LLC now owns 80,392 shares of the software maker’s stock valued at $8,087,000 after acquiring an additional 1,071 shares during the last quarter. Finally, Teacher Retirement System of Texas lifted its stake in shares of New Relic by 15.3% in the 2nd quarter. Teacher Retirement System of Texas now owns 8,431 shares of the software maker’s stock valued at $848,000 after acquiring an additional 1,120 shares during the last quarter. Hedge funds and other institutional investors own 77.20% of the company’s stock.

Several research firms have recently commented on NEWR. Needham & Company LLC reaffirmed a “buy” rating and issued a $121.00 target price on shares of New Relic in a research report on Tuesday, June 5th. Deutsche Bank began coverage on New Relic in a research report on Monday, June 25th. They issued a “buy” rating and a $125.00 target price on the stock. ValuEngine downgraded New Relic from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 30th. Zacks Investment Research raised New Relic from a “hold” rating to a “buy” rating and set a $118.00 target price on the stock in a research report on Tuesday, August 14th. Finally, TheStreet raised New Relic from a “d” rating to a “c” rating in a research report on Thursday, August 23rd. Eight equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $99.13.

New Relic Company Profile

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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