New Relic, Inc. (NYSE:NEWR) Chairman Sells $1,731,300.00 in Stock

New Relic, Inc. (NYSE:NEWRGet Rating) Chairman Lewis Cirne sold 30,000 shares of the business’s stock in a transaction on Friday, May 6th. The stock was sold at an average price of $57.71, for a total value of $1,731,300.00. Following the transaction, the chairman now directly owns 42,918 shares of the company’s stock, valued at $2,476,797.78. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Lewis Cirne also recently made the following trade(s):

  • On Wednesday, April 6th, Lewis Cirne sold 30,000 shares of New Relic stock. The stock was sold at an average price of $66.12, for a total value of $1,983,600.00.
  • On Tuesday, February 15th, Lewis Cirne sold 1,024 shares of New Relic stock. The stock was sold at an average price of $70.91, for a total value of $72,611.84.
  • On Friday, February 11th, Lewis Cirne sold 30,000 shares of New Relic stock. The stock was sold at an average price of $74.34, for a total value of $2,230,200.00.

Shares of New Relic stock traded down $6.05 on Monday, hitting $51.30. The stock had a trading volume of 1,520,183 shares, compared to its average volume of 1,019,909. New Relic, Inc. has a 52-week low of $50.94 and a 52-week high of $129.70. The company has a current ratio of 2.49, a quick ratio of 2.49 and a debt-to-equity ratio of 1.47. The stock has a market cap of $3.39 billion, a price-to-earnings ratio of -13.10 and a beta of 0.99. The company’s 50 day moving average price is $65.62 and its 200 day moving average price is $86.82.

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 consensus estimate of ($0.79) by ($0.17). The company had revenue of $203.59 million for the quarter, compared to analysts’ expectations of $200.44 million. New Relic had a negative net margin of 34.10% and a negative return on equity of 68.08%. The firm’s revenue was up 22.4% on a year-over-year basis. During the same period in the prior year, the company earned ($0.75) earnings per share. Analysts predict that New Relic, Inc. will post -3.63 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Engaged Capital LLC raised its stake in New Relic by 36.0% during the 3rd quarter. Engaged Capital LLC now owns 1,599,746 shares of the software maker’s stock valued at $114,814,000 after acquiring an additional 423,054 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in New Relic by 9.3% during the 4th quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,434,621 shares of the software maker’s stock valued at $157,751,000 after acquiring an additional 121,545 shares during the last quarter. Marshall Wace LLP raised its stake in New Relic by 2,123.1% during the 4th quarter. Marshall Wace LLP now owns 1,208,144 shares of the software maker’s stock valued at $132,847,000 after acquiring an additional 1,153,798 shares during the last quarter. Rockefeller Capital Management L.P. raised its stake in New Relic by 1.4% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 733,673 shares of the software maker’s stock valued at $52,654,000 after acquiring an additional 10,352 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in New Relic by 4.4% during the 4th quarter. Geode Capital Management LLC now owns 688,176 shares of the software maker’s stock valued at $75,671,000 after acquiring an additional 28,805 shares during the last quarter. 88.24% of the stock is owned by hedge funds and other institutional investors.

A number of analysts have issued reports on NEWR shares. Needham & Company LLC decreased their price target on New Relic from $100.00 to $78.00 and set a “buy” rating for the company in a report on Wednesday, March 2nd. StockNews.com started coverage on New Relic in a report on Thursday, March 31st. They set a “hold” rating for the company. Zacks Investment Research downgraded New Relic from a “hold” rating to a “sell” rating in a report on Saturday, April 9th. Truist Financial decreased their price target on New Relic from $120.00 to $110.00 and set a “buy” rating for the company in a report on Thursday, March 24th. Finally, Morgan Stanley decreased their price target on New Relic from $150.00 to $138.00 and set an “overweight” rating for the company in a report 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. According to MarketBeat.com, the company presently 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.

Featured Stories

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

Receive News & Ratings for New Relic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for New Relic and related companies with MarketBeat.com's FREE daily email newsletter.