New Relic, Inc. (NYSE:NEWR) CFO Mark Sachleben Sells 2,950 Shares

New Relic, Inc. (NYSE:NEWR – Get Rating) CFO Mark Sachleben sold 2,950 shares of the business’s stock in a transaction dated Monday, May 16th. The stock was sold at an average price of $43.32, for a total transaction of $127,794.00. Following the transaction, the chief financial officer now owns 2,572 shares in the company, valued at $111,419.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Wednesday, April 20th, Mark Sachleben sold 15,616 shares of New Relic stock. The stock was sold at an average price of $70.52, for a total transaction of $1,101,240.32.

Shares of NEWR opened at $45.14 on Wednesday. New Relic, Inc. has a fifty-two week low of $41.66 and a fifty-two week high of $129.70. The firm’s 50 day moving average price is $63.49 and its 200 day moving average price is $85.26. The company has a quick ratio of 2.49, a current ratio of 2.49 and a debt-to-equity ratio of 1.47.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Eminence Capital LP increased its stake in New Relic by 9.7% during the 1st quarter. Eminence Capital LP now owns 5,153,069 shares of the software maker’s stock worth $344,637,000 after buying an additional 456,617 shares during the period. Vanguard Group Inc. raised its holdings in shares of New Relic by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 4,973,747 shares of the software maker’s stock valued at $332,645,000 after purchasing an additional 49,388 shares in the last quarter. Clearbridge Investments LLC lifted its position in shares of New Relic by 0.5% during the 1st quarter. Clearbridge Investments LLC now owns 1,889,144 shares of the software maker’s stock worth $126,346,000 after purchasing an additional 9,341 shares during the last quarter. Engaged Capital LLC lifted its position in shares of New Relic by 36.0% during the 3rd quarter. Engaged Capital LLC now owns 1,599,746 shares of the software maker’s stock worth $114,814,000 after purchasing an additional 423,054 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in shares of New Relic by 8.9% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,562,561 shares of the software maker’s stock worth $104,504,000 after purchasing an additional 127,940 shares in the last quarter. 88.24% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities analysts recently weighed in on the stock. Cowen lowered their price target on shares of New Relic from $80.00 to $65.00 in a research report on Friday, May 13th. Royal Bank of Canada decreased their target price on shares of New Relic from $90.00 to $45.00 in a report on Friday, May 13th. Needham & Company LLC lowered shares of New Relic from a “buy” rating to a “hold” rating in a report on Friday, May 13th. Truist Financial reduced their price target on shares of New Relic from $110.00 to $95.00 in a research note on Tuesday, May 10th. Finally, Robert W. Baird reduced their price target on shares of New Relic from $117.00 to $75.00 and set a “na” rating on the stock in a research note on Friday, May 13th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $88.09.

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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