New Relic, Inc. (NYSE:NEWR) reached a new 52-week high during trading on Monday . The stock traded as high as $60.18 and last traded at $57.23, with a volume of 183000 shares changing hands. The stock had previously closed at $56.82.

Several equities research analysts recently commented on NEWR shares. BidaskClub raised New Relic from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 24th. Robert W. Baird set a $55.00 price objective on New Relic and gave the stock a “buy” rating in a research report on Monday, September 11th. KeyCorp started coverage on New Relic in a research report on Tuesday, September 19th. They issued an “overweight” rating and a $52.00 price objective for the company. Oppenheimer reiterated a “buy” rating and issued a $50.00 price objective on shares of New Relic in a research report on Tuesday, September 19th. Finally, Zacks Investment Research upgraded New Relic from a “hold” rating to a “buy” rating and set a $56.00 price objective for the company in a research report on Wednesday, October 4th. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $54.23.

New Relic (NYSE:NEWR) last issued its quarterly earnings data on Tuesday, November 7th. The software maker reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.04. New Relic had a negative return on equity of 29.19% and a negative net margin of 19.43%. The company had revenue of $84.68 million during the quarter, compared to analyst estimates of $82.98 million. During the same period in the prior year, the business posted ($0.09) earnings per share. The firm’s revenue for the quarter was up 33.5% compared to the same quarter last year. analysts anticipate that New Relic, Inc. will post -0.98 earnings per share for the current fiscal year.

In other news, VP Robin Schulman sold 1,349 shares of the firm’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of $48.78, for a total transaction of $65,804.22. Following the completion of the transaction, the vice president now directly owns 1,364 shares in the company, valued at $66,535.92. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Mark Sachleben sold 10,000 shares of the firm’s stock in a transaction on Monday, December 11th. The stock was sold at an average price of $59.07, for a total value of $590,700.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 181,591 shares of company stock valued at $9,633,512. Company insiders own 23.10% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Essex Investment Management Co. LLC boosted its holdings in New Relic by 11.4% in the third quarter. Essex Investment Management Co. LLC now owns 10,031 shares of the software maker’s stock valued at $500,000 after purchasing an additional 1,025 shares during the period. Voya Investment Management LLC boosted its holdings in New Relic by 58.2% in the second quarter. Voya Investment Management LLC now owns 13,072 shares of the software maker’s stock valued at $562,000 after purchasing an additional 4,807 shares during the period. AXA boosted its holdings in New Relic by 9.0% in the second quarter. AXA now owns 158,000 shares of the software maker’s stock valued at $6,796,000 after purchasing an additional 13,000 shares during the period. JPMorgan Chase & Co. boosted its holdings in New Relic by 31.3% in the second quarter. JPMorgan Chase & Co. now owns 94,229 shares of the software maker’s stock valued at $4,052,000 after purchasing an additional 22,460 shares during the period. Finally, Arrowstreet Capital Limited Partnership purchased a new position in New Relic in the second quarter valued at $1,734,000. Institutional investors and hedge funds own 77.16% of the company’s stock.

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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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