New Relic Inc (NYSE:NEWR) CEO Lewis Cirne sold 89,000 shares of the stock in a transaction on Tuesday, July 3rd. The shares were sold at an average price of $101.65, for a total value of $9,046,850.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Lewis Cirne also recently made the following trade(s):
Get New Relic alerts: On Monday, June 4th, Lewis Cirne sold 89,000 shares of New Relic stock. The shares were sold at an average price of $104.65, for a total value of $9,313,850.00. On Wednesday, May 2nd, Lewis Cirne sold 89,000 shares of New Relic stock. The shares were sold at an average price of $71.11, for a total value of $6,328,790.00.New Relic traded down $1.60, reaching $101.01, during trading hours on Tuesday, MarketBeat Ratings reports. 444,300 shares of the company’s stock were exchanged, compared to its average volume of 675,691. New Relic Inc has a twelve month low of $42.69 and a twelve month high of $111.59. The company has a market cap of $5.58 billion, a P/E ratio of -136.50 and a beta of 0.84.
New Relic (NYSE:NEWR) last issued its quarterly earnings results on Tuesday, May 8th. The software maker reported $0.09 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.04. New Relic had a negative return on equity of 20.14% and a negative net margin of 12.76%. The firm had revenue of $98.40 million during the quarter, compared to the consensus estimate of $96.34 million. During the same period last year, the business posted ($0.11) EPS. The business’s revenue was up 34.2% compared to the same quarter last year. analysts forecast that New Relic Inc will post -0.59 earnings per share for the current fiscal year.
A number of analysts recently weighed in on the company. Robert W. Baird increased their price objective on New Relic from $88.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday, June 5th. Wedbush restated an “outperform” rating and issued a $86.00 price objective (down from $93.00) on shares of New Relic in a report on Wednesday, May 9th. Morgan Stanley increased their price objective on New Relic from $61.00 to $67.00 and gave the company an “equal weight” rating in a report on Wednesday, May 9th. Zacks Investment Research downgraded New Relic from a “buy” rating to a “hold” rating in a report on Friday, March 9th. Finally, Needham & Company LLC increased their price objective on New Relic from $73.00 to $84.00 and gave the company a “buy” rating in a report on Monday, April 2nd. Eight research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. New Relic presently has an average rating of “Buy” and a consensus price target of $90.50.
A number of institutional investors have recently modified their holdings of NEWR. Stratos Wealth Partners LTD. acquired a new stake in shares of New Relic in the 1st quarter valued at about $141,000. Stifel Financial Corp acquired a new stake in shares of New Relic in the 1st quarter valued at about $203,000. Quantum Capital Management acquired a new stake in shares of New Relic in the 1st quarter valued at about $210,000. Commonwealth Equity Services LLC acquired a new stake in shares of New Relic in the 1st quarter valued at about $212,000. Finally, Xact Kapitalforvaltning AB acquired a new stake in shares of New Relic in the 4th quarter valued at about $233,000. Hedge funds and other institutional investors own 74.08% of the company’s stock.
New Relic Company Profile
New Relic, Inc, a software-as-a-service company, provides various digital products worldwide. Its cloud-based platform and suite of products include New Relic Platform, which enable organizations to collect, store, and analyze data. The company offers New Relic Application Performance Management that provides visibility into the performance and usage of server-based applications, such as data pertaining to response time, transaction throughput, error rates, top transactions, and user satisfaction; New Relic Mobile, which provides code-level visibility into the performance and health of mobile applications running on the iOS and Android mobile operating systems; and New Relic Browser that monitors the page view experiences of actual end-users for desktop and mobile browser-based applications.
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