James R. Gochee Sells 4,780 Shares of New Relic Inc. (NEWR) Stock
New Relic Inc. (NYSE:NEWR) insider James R. Gochee sold 4,780 shares of New Relic stock in a transaction on Wednesday, November 16th. The shares were sold at an average price of $33.39, for a total value of $159,604.20. Following the completion of the transaction, the insider now directly owns 383,487 shares of the company’s stock, valued at $12,804,630.93. The sale was disclosed in a legal filing with the SEC, which is available through this link.
New Relic Inc. (NYSE:NEWR) opened at 33.84 on Monday. New Relic Inc. has a one year low of $20.39 and a one year high of $38.72. The firm’s market capitalization is $1.76 billion. The firm’s 50-day moving average price is $35.48 and its 200 day moving average price is $33.26.
New Relic (NYSE:NEWR) last posted its earnings results on Monday, November 7th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.17) by $0.08. The firm had revenue of $63.40 million for the quarter, compared to the consensus estimate of $61.93 million. New Relic had a negative return on equity of 34.47% and a negative net margin of 31.38%. The business’s quarterly revenue was up 47.8% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.17) earnings per share. On average, equities analysts anticipate that New Relic Inc. will post ($0.59) earnings per share for the current fiscal year.
Several large investors have recently bought and sold shares of NEWR. State Board of Administration of Florida Retirement System increased its stake in New Relic by 0.8% in the second quarter. State Board of Administration of Florida Retirement System now owns 15,182 shares of the company’s stock valued at $446,000 after buying an additional 120 shares in the last quarter. Parametric Portfolio Associates LLC increased its stake in shares of New Relic by 1.3% in the second quarter. Parametric Portfolio Associates LLC now owns 14,155 shares of the company’s stock worth $416,000 after buying an additional 176 shares during the period. BlackRock Group LTD increased its stake in shares of New Relic by 5.3% in the third quarter. BlackRock Group LTD now owns 7,493 shares of the company’s stock worth $286,000 after buying an additional 378 shares during the period. TD Asset Management Inc. increased its stake in shares of New Relic by 0.7% in the second quarter. TD Asset Management Inc. now owns 55,380 shares of the company’s stock worth $1,627,000 after buying an additional 400 shares during the period. Finally, Paradigm Asset Management Co. LLC increased its stake in shares of New Relic by 15.2% in the second quarter. Paradigm Asset Management Co. LLC now owns 3,800 shares of the company’s stock worth $112,000 after buying an additional 500 shares during the period. Hedge funds and other institutional investors own 58.69% of the company’s stock.
Several equities analysts have recently issued reports on the company. Morgan Stanley set a $43.00 price target on New Relic and gave the company a “buy” rating in a research note on Wednesday, September 28th. JMP Securities reiterated a “buy” rating on shares of New Relic in a research note on Thursday. Finally, Guggenheim assumed coverage on New Relic in a research note on Friday. They issued a “buy” rating and a $50.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $38.11.
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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