Mark Sachleben Sells 15,616 Shares of New Relic, Inc. (NYSE:NEWR) Stock

New Relic, Inc. (NYSE:NEWR – Get Rating) CFO Mark Sachleben sold 15,616 shares of the business’s stock in a transaction dated Wednesday, April 20th. The shares were sold at an average price of $70.52, for a total value of $1,101,240.32. Following the completion of the sale, the chief financial officer now owns 16,524 shares in the company, valued at $1,165,272.48. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Mark Sachleben also recently made the following trade(s):

• On Tuesday, February 15th, Mark Sachleben sold 2,007 shares of New Relic stock. The stock was sold at an average price of $70.91, for a total transaction of $142,316.37.

Shares of NEWR stock traded down $5.03 during trading on Thursday, hitting $65.97. The company had a trading volume of 1,308,511 shares, compared to its average volume of 1,033,433. The stock’s 50-day moving average is $66.66 and its two-hundred day moving average is $87.70. The stock has a market capitalization of $4.37 billion, a price-to-earnings ratio of -16.41 and a beta of 1.01. The company has a quick ratio of 2.49, a current ratio of 2.49 and a debt-to-equity ratio of 1.47. New Relic, Inc. has a 52 week low of $51.52 and a 52 week high of $129.70.

New Relic (NYSE:NEWR – Get Rating) last issued its quarterly earnings results 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 return on equity of 68.08% and a negative net margin of 34.10%. The company had revenue of $203.59 million during the quarter, compared to the consensus estimate of $200.44 million. During the same period in the previous year, the company earned ($0.75) EPS. New Relic’s quarterly revenue was up 22.4% on a year-over-year basis. On average, research analysts predict that New Relic, Inc. will post -3.63 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Quadrant Capital Group LLC grew its position in New Relic by 77.7% during the fourth quarter. Quadrant Capital Group LLC now owns 231 shares of the software maker’s stock valued at $25,000 after acquiring an additional 101 shares during the last quarter. CWM LLC purchased a new stake in New Relic during the fourth quarter valued at about $25,000. Private Ocean LLC bought a new position in shares of New Relic during the third quarter valued at about $41,000. Canada Pension Plan Investment Board increased its holdings in shares of New Relic by 132.0% in the fourth quarter. Canada Pension Plan Investment Board now owns 559 shares of the software maker’s stock worth $62,000 after buying an additional 318 shares during the period. Finally, Ensign Peak Advisors Inc bought a new stake in shares of New Relic in the 3rd quarter valued at about $87,000. 86.17% of the stock is currently owned by institutional investors.

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

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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