New Relic Inc. (NYSE:NEWR) insider James R. Gochee sold 4,000 shares of the stock in a transaction that occurred on Wednesday, October 12th. The shares were sold at an average price of $36.15, for a total transaction of $144,600.00. Following the completion of the transaction, the insider now owns 383,090 shares in the company, valued at $13,848,703.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of New Relic Inc. (NYSE:NEWR) opened at 35.24 on Friday. The firm’s market capitalization is $1.79 billion. The company’s 50 day moving average price is $37.09 and its 200 day moving average price is $31.47. New Relic Inc. has a one year low of $20.39 and a one year high of $40.13.
New Relic (NYSE:NEWR) last released its quarterly earnings results on Tuesday, August 2nd. The company reported ($0.20) EPS for the quarter, topping the consensus estimate of ($0.23) by $0.03. The firm had revenue of $58.60 million for the quarter, compared to analyst estimates of $56.96 million. New Relic had a negative return on equity of 34.30% and a negative net margin of 34.91%. New Relic’s revenue for the quarter was up 53.8% on a year-over-year basis. During the same period in the previous year, the company posted ($0.21) EPS. On average, analysts expect that New Relic Inc. will post ($0.62) EPS for the current fiscal year.
A number of institutional investors have recently added to or reduced their stakes in the company. Teacher Retirement System of Texas raised its position in New Relic by 27.4% in the second quarter. Teacher Retirement System of Texas now owns 3,429 shares of the company’s stock valued at $101,000 after buying an additional 737 shares during the period. Paradigm Asset Management Co. LLC increased its stake in New Relic by 15.2% in the second quarter. Paradigm Asset Management Co. LLC now owns 3,800 shares of the company’s stock valued at $112,000 after buying an additional 500 shares in the last quarter. Clinton Group Inc. acquired a new stake in New Relic during the second quarter valued at about $239,000. UBS Asset Management Americas Inc. acquired a new stake in New Relic during the second quarter valued at about $247,000. Finally, Citigroup Inc. increased its stake in New Relic by 62.6% in the second quarter. Citigroup Inc. now owns 9,775 shares of the company’s stock valued at $287,000 after buying an additional 3,763 shares in the last quarter. 58.44% of the stock is currently owned by hedge funds and other institutional investors.
NEWR has been the topic of several recent analyst reports. Cowen and Company initiated coverage on shares of New Relic in a research note on Friday, June 24th. They issued an “outperform” rating and a $38.00 price target on the stock. Morgan Stanley set a $43.00 price objective on New Relic and gave the company a “buy” rating in a report on Wednesday, September 28th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. New Relic presently has an average rating of “Buy” and an average target price of $38.50.
New Relic Company Profile