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

New Relic, Inc. (NYSE:NEWR – Get 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:NEWR – Get 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.

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