Insider Selling: New Relic, Inc. (NYSE:NEWR) COO Sells 3,472 Shares of Stock

New Relic, Inc. (NYSE:NEWRGet Rating) COO Kristy Friedrichs sold 3,472 shares of New Relic stock in a transaction dated Wednesday, April 20th. The stock was sold at an average price of $70.47, for a total transaction of $244,671.84. Following the sale, the chief operating officer now directly owns 10,380 shares of the company’s stock, valued at approximately $731,478.60. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Kristy Friedrichs also recently made the following trade(s):

  • On Thursday, February 17th, Kristy Friedrichs sold 324 shares of New Relic stock. The shares were sold at an average price of $68.98, for a total transaction of $22,349.52.
  • On Tuesday, February 15th, Kristy Friedrichs sold 1,814 shares of New Relic stock. The shares were sold at an average price of $70.92, for a total transaction of $128,648.88.

Shares of NYSE:NEWR traded down $5.03 during trading on Thursday, reaching $65.97. The stock had a trading volume of 1,308,511 shares, compared to its average volume of 1,033,433. The firm’s fifty day moving average is $66.66 and its 200 day moving average is $87.70. The company has a debt-to-equity ratio of 1.47, a quick ratio of 2.49 and a current ratio of 2.49. New Relic, Inc. has a 52 week low of $51.52 and a 52 week high of $129.70. The stock has a market cap of $4.37 billion, a price-to-earnings ratio of -16.41 and a beta of 1.01.

New Relic (NYSE:NEWRGet Rating) last posted its quarterly earnings data on Tuesday, February 8th. The software maker reported ($0.96) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.79) by ($0.17). New Relic had a negative net margin of 34.10% and a negative return on equity of 68.08%. The firm had revenue of $203.59 million during the quarter, compared to the consensus estimate of $200.44 million. During the same period in the prior year, the company posted ($0.75) earnings per share. The company’s revenue for the quarter was up 22.4% compared to the same quarter last year. On average, research analysts forecast that New Relic, Inc. will post -3.63 earnings per share for the current fiscal year.

A number of analysts have issued reports on NEWR shares. Truist Financial cut their price objective on shares of New Relic from $120.00 to $110.00 and set a “buy” rating for the company in a report on Thursday, March 24th. StockNews.com started coverage on shares of New Relic in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Morgan Stanley lowered their price objective on shares of New Relic from $150.00 to $138.00 and set an “overweight” rating for the company in a research report on Wednesday, February 9th. Needham & Company LLC lowered their price objective on shares of New Relic from $100.00 to $78.00 and set a “buy” rating for the company in a research report on Wednesday, March 2nd. Finally, Zacks Investment Research cut shares of New Relic from a “hold” rating to a “sell” rating in a research report on Saturday, April 9th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $109.22.

Several large investors have recently bought and sold shares of NEWR. Amundi Pioneer Asset Management Inc. boosted its stake in shares of New Relic by 5.7% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 13,000 shares of the software maker’s stock valued at $1,283,000 after purchasing an additional 700 shares during the last quarter. Millennium Management LLC bought a new position in New Relic during the second quarter worth $618,000. Raymond James & Associates boosted its stake in New Relic by 2.3% during the third quarter. Raymond James & Associates now owns 35,505 shares of the software maker’s stock worth $2,548,000 after acquiring an additional 814 shares in the last quarter. Versor Investments LP bought a new position in New Relic during the third quarter worth $363,000. Finally, Swiss National Bank boosted its stake in New Relic by 1.4% during the third quarter. Swiss National Bank now owns 126,897 shares of the software maker’s stock worth $9,107,000 after acquiring an additional 1,800 shares in the last quarter. 86.17% of the stock is currently owned by institutional investors.

New Relic Company Profile (Get Rating)

New Relic, Inc, a software-as-a-service company, provides platform for engineers to plan, build, deploy, and operate software worldwide. It offers a suite of products on its open and extensible cloud-based platform, New Relic One Platform, which enables users to collect, store, and analyze telemetry data flowing through and about their software.

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