New Relic Inc (NYSE:NEWR) CRO Erica Schultz sold 2,739 shares of New Relic stock in a transaction dated Monday, September 17th. The shares were sold at an average price of $104.59, for a total value of $286,472.01. Following the completion of the transaction, the executive now directly owns 21,155 shares of the company’s stock, valued at $2,212,601.45. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Erica Schultz also recently made the following trade(s):

  • On Monday, August 20th, Erica Schultz sold 2,765 shares of New Relic stock. The shares were sold at an average price of $99.66, for a total value of $275,559.90.
  • On Thursday, August 16th, Erica Schultz sold 3,623 shares of New Relic stock. The shares were sold at an average price of $103.03, for a total value of $373,277.69.
  • On Monday, July 16th, Erica Schultz sold 1,800 shares of New Relic stock. The shares were sold at an average price of $106.74, for a total value of $192,132.00.

Shares of New Relic stock traded down $6.47 on Monday, reaching $100.46. 816,700 shares of the company were exchanged, compared to its average volume of 684,650. New Relic Inc has a 1-year low of $46.24 and a 1-year high of $114.78. The company has a market cap of $6.20 billion, a PE ratio of -135.76 and a beta of 0.77. 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 (NYSE:NEWR) last announced its quarterly earnings data on Tuesday, August 7th. The software maker reported $0.15 EPS for the quarter, topping the Zacks’ 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 business had revenue of $108.22 million during the quarter, compared to the consensus estimate of $106.09 million. sell-side analysts predict that New Relic Inc will post -0.38 earnings per share for the current fiscal year.

Several equities analysts have weighed in on the company. Argus assumed coverage on New Relic in a research report on Tuesday, July 17th. They issued a “hold” rating for the company. 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. Morgan Stanley lifted their target price on New Relic from $67.00 to $73.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 6th. TheStreet raised New Relic from a “d” rating to a “c” rating in a research report on Thursday, August 23rd. Finally, Robert W. Baird boosted their price objective on New Relic from $88.00 to $115.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 5th. Eight research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $99.13.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Nomura Holdings Inc. acquired a new position in New Relic in the second quarter valued at approximately $64,051,000. Verition Fund Management LLC boosted its holdings in New Relic by 122.5% in the second quarter. Verition Fund Management LLC now owns 8,365 shares of the software maker’s stock valued at $841,000 after purchasing an additional 4,605 shares in the last quarter. California Public Employees Retirement System boosted its holdings in New Relic by 55.0% in the second quarter. California Public Employees Retirement System now owns 46,455 shares of the software maker’s stock valued at $4,673,000 after purchasing an additional 16,493 shares in the last quarter. Granahan Investment Management Inc. MA boosted its holdings in New Relic by 14.2% in the second quarter. Granahan Investment Management Inc. MA now owns 24,972 shares of the software maker’s stock valued at $2,512,000 after purchasing an additional 3,103 shares in the last quarter. Finally, Millennium Management LLC boosted its holdings in New Relic by 34.8% in the second quarter. Millennium Management LLC now owns 535,300 shares of the software maker’s stock valued at $53,846,000 after purchasing an additional 138,061 shares in the last quarter. 77.20% of the stock is owned by hedge funds and other institutional investors.

About New Relic

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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Insider Buying and Selling by Quarter for New Relic (NYSE:NEWR)

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