New Relic Inc (NYSE:NEWR) CRO Erica Schultz sold 3,679 shares of the company’s stock in a transaction on Friday, November 16th. The shares were sold at an average price of $82.59, for a total transaction of $303,848.61. Following the completion of the sale, the executive now directly owns 26,922 shares of the company’s stock, valued at approximately $2,223,487.98. The sale was disclosed in a filing with the SEC, which is accessible through this link.

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

  • On Monday, October 15th, Erica Schultz sold 1,800 shares of New Relic stock. The shares were sold at an average price of $84.15, for a total transaction of $151,470.00.
  • On Monday, September 17th, Erica Schultz sold 2,739 shares of New Relic stock. The shares were sold at an average price of $104.59, for a total transaction of $286,472.01.

NEWR traded down $8.12 during trading on Monday, hitting $76.63. 1,073,500 shares of the stock traded hands, compared to its average volume of 743,361. The stock has a market capitalization of $4.83 billion, a P/E ratio of -103.55 and a beta of 0.82. The company has a quick ratio of 3.81, a current ratio of 3.81 and a debt-to-equity ratio of 1.25. New Relic Inc has a 12-month low of $55.07 and a 12-month high of $114.78.

New Relic (NYSE:NEWR) last announced its quarterly earnings results on Tuesday, November 6th. The software maker reported ($0.11) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by ($0.03). The firm had revenue of $114.90 million for the quarter, compared to analysts’ expectations of $112.26 million. New Relic had a negative net margin of 6.93% and a negative return on equity of 7.97%. The company’s quarterly revenue was up 35.7% on a year-over-year basis. During the same period in the previous year, the company earned ($0.06) EPS. Sell-side analysts expect that New Relic Inc will post -0.37 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in NEWR. Dimensional Fund Advisors LP purchased a new stake in New Relic during the 1st quarter valued at $679,000. LPL Financial LLC purchased a new stake in shares of New Relic in the 1st quarter worth about $238,000. Xact Kapitalforvaltning AB lifted its position in shares of New Relic by 19.9% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 6,037 shares of the software maker’s stock worth $607,000 after purchasing an additional 1,000 shares during the period. Fox Run Management L.L.C. purchased a new stake in shares of New Relic in the 2nd quarter worth about $251,000. Finally, Amalgamated Bank lifted its position in shares of New Relic by 66.2% in the 2nd quarter. Amalgamated Bank now owns 6,778 shares of the software maker’s stock worth $682,000 after purchasing an additional 2,701 shares during the period. 76.17% of the stock is owned by institutional investors and hedge funds.

A number of brokerages have recently issued reports on NEWR. Zacks Investment Research cut shares of New Relic from a “buy” rating to a “hold” rating in a research note on Wednesday, November 14th. ValuEngine cut shares of New Relic from a “buy” rating to a “hold” rating in a research note on Monday, November 12th. First Analysis raised shares of New Relic from an “outperform” rating to a “strong-buy” rating and upped their price objective for the company from $114.00 to $116.00 in a research note on Wednesday, November 7th. Morgan Stanley upped their price objective on shares of New Relic from $80.00 to $102.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 8th. Finally, BMO Capital Markets cut their price objective on shares of New Relic from $117.00 to $110.00 and set an “outperform” rating for the company in a research note on Wednesday, November 7th. Seven research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. New Relic presently has a consensus rating of “Buy” and an average target price of $103.47.

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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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