New Relic Inc (NYSE:NEWR) CFO Mark Sachleben sold 7,500 shares of the stock in a transaction that occurred on Thursday, December 6th. The stock was sold at an average price of $80.69, for a total transaction of $605,175.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Mark Sachleben also recently made the following trade(s):

  • On Friday, November 16th, Mark Sachleben sold 3,771 shares of New Relic stock. The stock was sold at an average price of $83.80, for a total transaction of $316,009.80.
  • On Monday, November 19th, Mark Sachleben sold 11,271 shares of New Relic stock. The stock was sold at an average price of $83.80, for a total transaction of $944,509.80.
  • On Monday, November 12th, Mark Sachleben sold 15,000 shares of New Relic stock. The stock was sold at an average price of $87.06, for a total transaction of $1,305,900.00.
  • On Thursday, November 8th, Mark Sachleben sold 7,500 shares of New Relic stock. The shares were sold at an average price of $96.49, for a total transaction of $723,675.00.
  • On Monday, October 15th, Mark Sachleben sold 22,500 shares of New Relic stock. The shares were sold at an average price of $84.10, for a total transaction of $1,892,250.00.
  • On Thursday, October 4th, Mark Sachleben sold 7,500 shares of New Relic stock. The shares were sold at an average price of $89.18, for a total transaction of $668,850.00.
  • On Thursday, September 20th, Mark Sachleben sold 1,052 shares of New Relic stock. The shares were sold at an average price of $98.63, for a total transaction of $103,758.76.
  • On Monday, September 17th, Mark Sachleben sold 23,651 shares of New Relic stock. The shares were sold at an average price of $105.97, for a total transaction of $2,506,296.47.

NEWR traded down $2.88 during trading hours on Friday, reaching $83.16. 523,763 shares of the stock traded hands, compared to its average volume of 742,945. The firm has a market cap of $4.90 billion, a price-to-earnings ratio of -112.38 and a beta of 0.80. New Relic Inc has a fifty-two week low of $56.01 and a fifty-two week high of $114.78. The company has a current ratio of 3.81, a quick ratio of 3.81 and a debt-to-equity ratio of 1.25.

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

A number of brokerages have recently commented on NEWR. Zacks Investment Research downgraded shares of New Relic from a “buy” rating to a “hold” rating in a research note on Wednesday, November 14th. ValuEngine downgraded shares of New Relic from a “buy” rating to a “hold” rating in a research note on Monday, November 12th. BMO Capital Markets cut their target price on shares of New Relic from $117.00 to $110.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 7th. First Analysis raised shares of New Relic from an “outperform” rating to a “strong-buy” rating and raised their target price for the company from $114.00 to $116.00 in a research note on Wednesday, November 7th. Finally, DA Davidson raised shares of New Relic from a “neutral” rating to a “buy” rating and set a $105.00 target price on the stock in a research note on Tuesday, October 23rd. They noted that the move was a valuation call. Seven research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $103.47.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NEWR. Vanguard Group Inc. grew its holdings in New Relic by 11.5% during the 3rd quarter. Vanguard Group Inc. now owns 4,552,159 shares of the software maker’s stock worth $428,950,000 after acquiring an additional 468,506 shares in the last quarter. BlackRock Inc. grew its holdings in New Relic by 11.8% during the 3rd quarter. BlackRock Inc. now owns 3,676,730 shares of the software maker’s stock worth $346,458,000 after acquiring an additional 388,420 shares in the last quarter. Alliancebernstein L.P. grew its holdings in New Relic by 20.6% during the 3rd quarter. Alliancebernstein L.P. now owns 1,831,207 shares of the software maker’s stock worth $172,555,000 after acquiring an additional 312,460 shares in the last quarter. First Trust Advisors LP grew its holdings in New Relic by 8.5% during the 3rd quarter. First Trust Advisors LP now owns 1,453,714 shares of the software maker’s stock worth $136,983,000 after acquiring an additional 113,834 shares in the last quarter. Finally, Clearbridge Investments LLC grew its holdings in New Relic by 7.7% during the 3rd quarter. Clearbridge Investments LLC now owns 1,426,105 shares of the software maker’s stock worth $134,382,000 after acquiring an additional 101,991 shares in the last quarter. 77.28% of the stock is owned by institutional investors and hedge funds.

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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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