Insider Selling: New Relic Inc (NEWR) CEO Sells 16,000 Shares of Stock

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New Relic Inc (NYSE:NEWR) CEO Lewis Cirne sold 16,000 shares of the company’s stock in a transaction on Monday, February 11th. The shares were sold at an average price of $104.09, for a total value of $1,665,440.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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

  • On Monday, February 4th, Lewis Cirne sold 4,000 shares of New Relic stock. The shares were sold at an average price of $106.31, for a total value of $425,240.00.
  • On Thursday, January 3rd, Lewis Cirne sold 89,000 shares of New Relic stock. The shares were sold at an average price of $76.40, for a total value of $6,799,600.00.
  • On Tuesday, December 4th, Lewis Cirne sold 89,000 shares of New Relic stock. The shares were sold at an average price of $84.76, for a total value of $7,543,640.00.

NYSE:NEWR traded down $0.11 during mid-day trading on Monday, hitting $103.10. The company had a trading volume of 701,100 shares, compared to its average volume of 739,886. New Relic Inc has a fifty-two week low of $63.52 and a fifty-two week high of $114.78. The company has a current ratio of 3.53, a quick ratio of 3.53 and a debt-to-equity ratio of 1.23. The firm has a market capitalization of $5.92 billion, a price-to-earnings ratio of -139.32 and a beta of 1.05.

New Relic (NYSE:NEWR) last released its earnings results on Wednesday, February 6th. The software maker reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.03. New Relic had a negative return on equity of 6.08% and a negative net margin of 6.96%. The firm had revenue of $124.00 million for the quarter, compared to analyst estimates of $120.18 million. During the same quarter in the prior year, the firm posted $0.05 earnings per share. The company’s quarterly revenue was up 35.1% on a year-over-year basis. Sell-side analysts predict that New Relic Inc will post -0.36 earnings per share for the current year.

Large investors have recently added to or reduced their stakes in the business. Winslow Evans & Crocker Inc. bought a new stake in shares of New Relic in the fourth quarter worth about $40,000. IFP Advisors Inc increased its holdings in shares of New Relic by 1,120.3% in the fourth quarter. IFP Advisors Inc now owns 720 shares of the software maker’s stock worth $58,000 after acquiring an additional 661 shares in the last quarter. Pearl River Capital LLC bought a new stake in shares of New Relic in the fourth quarter worth about $73,000. DekaBank Deutsche Girozentrale increased its holdings in shares of New Relic by 84.7% in the third quarter. DekaBank Deutsche Girozentrale now owns 1,293 shares of the software maker’s stock worth $133,000 after acquiring an additional 593 shares in the last quarter. Finally, First Quadrant L P CA bought a new stake in shares of New Relic in the third quarter worth about $139,000. 78.46% of the stock is currently owned by hedge funds and other institutional investors.

NEWR has been the topic of several research reports. Deutsche Bank upped their price target on New Relic to $120.00 and gave the company a “buy” rating in a research note on Thursday. DA Davidson reaffirmed a “buy” rating on shares of New Relic in a research note on Thursday. ValuEngine raised New Relic from a “hold” rating to a “buy” rating in a research note on Thursday, January 17th. Zacks Investment Research lowered New Relic from a “buy” rating to a “hold” rating in a research note on Wednesday, November 14th. Finally, JMP Securities reaffirmed a “hold” rating on shares of New Relic in a research note on Monday. Four investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $110.14.

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About New Relic

New Relic, Inc, a software-as-a-service company, provides various digital products worldwide. Its cloud-based platform and suite of products include New Relic Platform, which enable organizations to collect, store, and analyze data. The company offers New Relic Application Performance Management that provides visibility into the performance and usage of server-based applications, such as data pertaining to response time, transaction throughput, error rates, top transactions, and user satisfaction; New Relic Mobile, which provides code-level visibility into the performance and health of mobile applications running on the iOS and Android mobile operating systems; and New Relic Browser that monitors the page view experiences of actual end-users for desktop and mobile browser-based applications.

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

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