New Relic Inc. (NYSE:NEWR) VP Robin Schulman sold 2,601 shares of the business’s stock in a transaction that occurred on Wednesday, November 9th. The stock was sold at an average price of $33.55, for a total value of $87,263.55. Following the completion of the transaction, the vice president now owns 2,601 shares in the company, valued at approximately $87,263.55. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Robin Schulman also recently made the following trade(s):

  • On Tuesday, September 20th, Robin Schulman sold 326 shares of New Relic stock. The shares were sold at an average price of $37.70, for a total value of $12,290.20.
  • On Monday, September 19th, Robin Schulman sold 1,599 shares of New Relic stock. The shares were sold at an average price of $37.84, for a total value of $60,506.16.
  • On Friday, September 9th, Robin Schulman sold 4,900 shares of New Relic stock. The shares were sold at an average price of $37.98, for a total value of $186,102.00.
  • On Friday, August 19th, Robin Schulman sold 812 shares of New Relic stock. The shares were sold at an average price of $35.02, for a total value of $28,436.24.
  • On Tuesday, August 16th, Robin Schulman sold 502 shares of New Relic stock. The shares were sold at an average price of $35.40, for a total value of $17,770.80.
  • On Wednesday, August 17th, Robin Schulman sold 1,334 shares of New Relic stock. The shares were sold at an average price of $35.39, for a total value of $47,210.26.

New Relic Inc. (NYSE:NEWR) opened at 35.72 on Monday. The company’s market cap is $1.86 billion. New Relic Inc. has a 12-month low of $20.39 and a 12-month high of $38.72. The stock has a 50 day moving average of $36.07 and a 200 day moving average of $32.99.

New Relic (NYSE:NEWR) last issued its earnings results on Monday, November 7th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.17) by $0.08. New Relic had a negative net margin of 31.38% and a negative return on equity of 34.47%. The company had revenue of $63.40 million for the quarter, compared to analysts’ expectations of $61.93 million. During the same quarter last year, the company posted ($0.17) earnings per share. The firm’s quarterly revenue was up 47.8% on a year-over-year basis. Equities analysts expect that New Relic Inc. will post ($0.59) earnings per share for the current year.

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

Separately, Morgan Stanley set a $43.00 price objective on New Relic and gave the company a “buy” rating in a research note on Wednesday, September 28th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $38.11.

A number of large investors have recently modified their holdings of NEWR. Polar Capital LLP acquired a new position in shares of New Relic during the second quarter valued at $11,418,000. BlackRock Fund Advisors increased its stake in shares of New Relic by 251.6% in the second quarter. BlackRock Fund Advisors now owns 527,586 shares of the company’s stock valued at $15,500,000 after buying an additional 377,522 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD increased its stake in shares of New Relic by 1,330.9% in the third quarter. Sumitomo Mitsui Asset Management Company LTD now owns 364,875 shares of the company’s stock valued at $13,982,000 after buying an additional 339,375 shares during the last quarter. State Street Corp increased its stake in shares of New Relic by 215.5% in the second quarter. State Street Corp now owns 336,324 shares of the company’s stock valued at $9,883,000 after buying an additional 229,727 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of New Relic by 13.6% in the second quarter. Vanguard Group Inc. now owns 1,862,972 shares of the company’s stock valued at $54,734,000 after buying an additional 223,679 shares during the last quarter. Institutional investors own 59.42% of the company’s stock.

About New Relic

New Relic, Inc (New Relic) is a provider of enterprise software. The Company’s cloud-based platform and range of products enable organizations to collect, store and analyze software data in real time. The Company’s New Relic Software Analytics Cloud consists of an integrated suite of products, a data database and an open platform.

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