New Relic Inc (NYSE:NEWR) CTO James R. Gochee Sells 4,000 Shares

New Relic Inc (NYSE:NEWR) CTO James R. Gochee sold 4,000 shares of the business’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $60.75, for a total transaction of $243,000.00. Following the sale, the chief technology officer now directly owns 126,926 shares in the company, valued at approximately $7,710,754.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

James R. Gochee also recently made the following trade(s):

  • On Wednesday, June 12th, James R. Gochee sold 4,000 shares of New Relic stock. The stock was sold at an average price of $95.50, for a total transaction of $382,000.00.

Shares of NYSE NEWR traded down $0.44 during midday trading on Thursday, hitting $59.16. The stock had a trading volume of 6,755 shares, compared to its average volume of 1,634,600. The firm’s 50 day moving average is $86.00. The stock has a market cap of $3.70 billion, a P/E ratio of -191.10 and a beta of 0.83. New Relic Inc has a 52 week low of $55.60 and a 52 week high of $113.34. The company has a current ratio of 2.90, a quick ratio of 2.90 and a debt-to-equity ratio of 1.16.



New Relic (NYSE:NEWR) last issued its earnings results on Tuesday, August 6th. The software maker reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.18) by $0.02. The firm had revenue of $141.01 million for the quarter, compared to the consensus estimate of $139.73 million. New Relic had a negative net margin of 9.93% and a negative return on equity of 8.74%. The business’s revenue was up 30.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.15 earnings per share. Sell-side analysts expect that New Relic Inc will post -0.68 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in NEWR. Dimensional Fund Advisors LP raised its holdings in shares of New Relic by 9.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 94,864 shares of the software maker’s stock worth $7,681,000 after buying an additional 7,914 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of New Relic by 16.9% in the 4th quarter. Legal & General Group Plc now owns 18,246 shares of the software maker’s stock worth $1,478,000 after buying an additional 2,634 shares in the last quarter. Norges Bank acquired a new position in shares of New Relic in the 4th quarter worth approximately $32,845,000. Geode Capital Management LLC raised its holdings in shares of New Relic by 9.4% in the 4th quarter. Geode Capital Management LLC now owns 470,182 shares of the software maker’s stock worth $38,070,000 after buying an additional 40,494 shares in the last quarter. Finally, Sciencast Management LP raised its holdings in shares of New Relic by 40.5% in the 1st quarter. Sciencast Management LP now owns 5,900 shares of the software maker’s stock worth $571,000 after buying an additional 1,700 shares in the last quarter. 79.30% of the stock is owned by hedge funds and other institutional investors.

Several equities research analysts recently commented on the stock. UBS Group set a $73.00 price objective on shares of New Relic and gave the stock a “hold” rating in a research note on Wednesday, August 7th. Needham & Company LLC set a $120.00 price objective on shares of New Relic and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Wedbush reissued an “outperform” rating and set a $99.00 price objective (down previously from $124.00) on shares of New Relic in a research note on Wednesday, August 7th. ValuEngine lowered shares of New Relic from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th. Finally, Morgan Stanley dropped their target price on shares of New Relic from $115.00 to $104.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the company. New Relic has an average rating of “Hold” and an average price target of $100.50.

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.

Further Reading: Are sell-side analysts objective?

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

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