Hilarie A. Koplow Sells 1,485 Shares of New Relic Inc. (NEWR) Stock
New Relic Inc. (NYSE:NEWR) President Hilarie A. Koplow sold 1,485 shares of the firm’s stock in a transaction that occurred on Wednesday, November 16th. The stock was sold at an average price of $33.73, for a total transaction of $50,089.05. Following the sale, the president now owns 2,204 shares of the company’s stock, valued at $74,340.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
New Relic Inc. (NYSE:NEWR) opened at 33.84 on Monday. The company’s market capitalization is $1.76 billion. The company has a 50-day moving average of $35.48 and a 200-day moving average of $33.26. New Relic Inc. has a 52 week low of $20.39 and a 52 week high of $38.72.
New Relic (NYSE:NEWR) last issued its quarterly earnings data on Monday, November 7th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the Zacks’ 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 business earned $63.40 million during the quarter, compared to the consensus estimate of $61.93 million. During the same period in the prior year, the firm posted ($0.17) EPS. The firm’s quarterly revenue was up 47.8% compared to the same quarter last year. On average, equities research analysts anticipate that New Relic Inc. will post ($0.59) EPS for the current year.
NEWR has been the subject of several research reports. Guggenheim initiated coverage on shares of New Relic in a research report on Friday. They set a “buy” rating and a $50.00 price objective for the company. JMP Securities restated a “buy” rating on shares of New Relic in a research report on Thursday. Finally, Morgan Stanley set a $43.00 price objective on shares of New Relic and gave the stock a “buy” rating in a research report on Wednesday, September 28th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $38.11.
A number of large investors have recently modified their holdings of the company. Ashford Capital Management Inc. boosted its position in New Relic by 15.7% in the third quarter. Ashford Capital Management Inc. now owns 242,920 shares of the company’s stock worth $9,309,000 after buying an additional 32,920 shares during the last quarter. Credit Suisse AG boosted its position in New Relic by 965.5% in the third quarter. Credit Suisse AG now owns 331,639 shares of the company’s stock worth $12,708,000 after buying an additional 300,514 shares during the last quarter. Matrix Capital Management Company LP bought a new position in New Relic during the third quarter worth $185,779,000. Symmetry Peak Management LLC bought a new position in New Relic during the third quarter worth $2,391,000. Finally, Praesidium Investment Management Company LLC bought a new position in New Relic during the third quarter worth $26,303,000. 58.69% of the stock is owned by institutional investors and hedge funds.
New Relic Company Profile
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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