New Relic Inc (NYSE:NEWR) VP Robin Schulman sold 298 shares of New Relic stock in a transaction that occurred on Thursday, March 16th. The stock was sold at an average price of $37.11, for a total transaction of $11,058.78. Following the completion of the sale, the vice president now directly owns 1,364 shares of the company’s stock, valued at $50,618.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

  • On Thursday, March 9th, Robin Schulman sold 3,649 shares of New Relic stock. The stock was sold at an average price of $36.96, for a total transaction of $134,867.04.
  • On Tuesday, February 21st, Robin Schulman sold 247 shares of New Relic stock. The stock was sold at an average price of $35.72, for a total transaction of $8,822.84.
  • On Thursday, February 16th, Robin Schulman sold 489 shares of New Relic stock. The stock was sold at an average price of $34.89, for a total transaction of $17,061.21.
  • On Wednesday, January 25th, Robin Schulman sold 3,131 shares of New Relic stock. The stock was sold at an average price of $40.00, for a total transaction of $125,240.00.
  • On Tuesday, December 20th, Robin Schulman sold 329 shares of New Relic stock. The stock was sold at an average price of $28.77, for a total transaction of $9,465.33.

Shares of New Relic Inc (NYSE:NEWR) traded up 1.23% during mid-day trading on Monday, hitting $36.96. 251,759 shares of the stock traded hands. New Relic Inc has a 52 week low of $23.45 and a 52 week high of $40.10. The stock has a 50-day moving average of $36.05 and a 200-day moving average of $34.38. The company’s market cap is $1.95 billion.

New Relic (NYSE:NEWR) last released its earnings results on Tuesday, February 7th. The company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.05. New Relic had a negative net margin of 26.90% and a negative return on equity of 32.99%. The business earned $68.10 million during the quarter, compared to analyst estimates of $66.32 million. During the same period in the prior year, the business earned ($0.22) earnings per share. The business’s quarterly revenue was up 42.6% on a year-over-year basis. Analysts anticipate that New Relic Inc will post ($0.53) EPS for the current year.

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

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Hedge funds have recently added to or reduced their stakes in the stock. Hamilton Lane Advisors LLC raised its stake in New Relic by 28.6% in the third quarter. Hamilton Lane Advisors LLC now owns 75,301 shares of the company’s stock valued at $2,886,000 after buying an additional 16,753 shares in the last quarter. Brighton Jones LLC raised its stake in New Relic by 41.2% in the third quarter. Brighton Jones LLC now owns 68,600 shares of the company’s stock valued at $2,629,000 after buying an additional 20,000 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD raised its stake in 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 in the last quarter. Bradley Foster & Sargent Inc. CT raised its stake in New Relic by 47.6% in the third quarter. Bradley Foster & Sargent Inc. CT now owns 59,870 shares of the company’s stock valued at $2,294,000 after buying an additional 19,310 shares in the last quarter. Finally, Tocqueville Asset Management L.P. raised its stake in New Relic by 101.4% in the third quarter. Tocqueville Asset Management L.P. now owns 87,575 shares of the company’s stock valued at $3,356,000 after buying an additional 44,100 shares in the last quarter. 63.71% of the stock is owned by institutional investors and hedge funds.

Several analysts have recently issued reports on the stock. Robert W. Baird raised shares of New Relic from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $38.00 to $40.00 in a research note on Tuesday, February 28th. DA Davidson set a $49.00 price objective on shares of New Relic and gave the company a “buy” rating in a research note on Tuesday, November 22nd. Pacific Crest reissued an “overweight” rating on shares of New Relic in a research note on Friday, January 27th. Oppenheimer Holdings Inc. set a $40.00 price objective on shares of New Relic and gave the company a “buy” rating in a research note on Monday, November 28th. Finally, Cowen and Company reissued an “outperform” rating and set a $44.00 price objective (up from $38.00) on shares of New Relic in a research note on Wednesday, February 8th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $43.43.

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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