New Relic Inc (NYSE:NEWR) insider James R. Gochee sold 2,381 shares of the business’s stock in a transaction dated Friday, November 16th. The stock was sold at an average price of $83.75, for a total value of $199,408.75. Following the sale, the insider now owns 303,358 shares in the company, valued at $25,406,232.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

New Relic stock opened at $76.16 on Thursday. New Relic Inc has a one year low of $55.91 and a one year high of $114.78. 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 (NYSE:NEWR) last issued its quarterly earnings results on Tuesday, November 6th. The software maker reported ($0.11) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by ($0.03). New Relic had a negative net margin of 6.93% and a negative return on equity of 7.97%. The business had revenue of $114.90 million during the quarter, compared to analyst estimates of $112.26 million. During the same period last year, the firm posted ($0.06) earnings per share. New Relic’s quarterly revenue was up 35.7% compared to the same quarter last year. On average, analysts predict that New Relic Inc will post -0.37 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of NEWR. BlackRock Inc. lifted its stake in New Relic by 28.6% in the second quarter. BlackRock Inc. now owns 3,288,310 shares of the software maker’s stock valued at $330,772,000 after buying an additional 731,705 shares during the period. Renaissance Technologies LLC lifted its stake in New Relic by 158.5% in the second quarter. Renaissance Technologies LLC now owns 1,091,000 shares of the software maker’s stock valued at $109,744,000 after buying an additional 669,000 shares during the period. Nomura Holdings Inc. acquired a new position in New Relic in the second quarter valued at approximately $64,051,000. Deutsche Bank AG lifted its stake in New Relic by 49.2% in the third quarter. Deutsche Bank AG now owns 1,207,036 shares of the software maker’s stock valued at $113,736,000 after buying an additional 398,250 shares during the period. Finally, Alliancebernstein L.P. lifted its stake in New Relic by 20.6% in the third quarter. Alliancebernstein L.P. now owns 1,831,207 shares of the software maker’s stock valued at $172,555,000 after buying an additional 312,460 shares during the period. 76.17% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities analysts recently commented on NEWR shares. BMO Capital Markets lifted their price objective on New Relic from $110.00 to $117.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 8th. Zacks Investment Research lowered New Relic from a “buy” rating to a “hold” rating in a research note on Wednesday, November 14th. DA Davidson raised New Relic from a “neutral” rating to a “buy” rating and set a $105.00 price objective on the stock in a research note on Tuesday, October 23rd. They noted that the move was a valuation call. ValuEngine lowered New Relic from a “buy” rating to a “hold” rating in a research note on Tuesday, November 6th. Finally, Morgan Stanley lifted their price objective on New Relic from $80.00 to $102.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 8th. Seven research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. New Relic presently has an average 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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Insider Buying and Selling by Quarter for New Relic (NYSE:NEWR)

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