New Relic, Inc. (NYSE:NEWR) CEO Lewis Cirne sold 1,000 shares of New Relic stock in a transaction dated Tuesday, April 6th. The shares were sold at an average price of $64.03, for a total value of $64,030.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.
Lewis Cirne also recently made the following trade(s):
- On Thursday, April 1st, Lewis Cirne sold 30,000 shares of New Relic stock. The shares were sold at an average price of $62.50, for a total value of $1,875,000.00.
- On Tuesday, February 16th, Lewis Cirne sold 30,000 shares of New Relic stock. The shares were sold at an average price of $63.23, for a total value of $1,896,900.00.
Shares of NYSE:NEWR traded down $1.39 during trading on Wednesday, hitting $63.25. 390,933 shares of the company were exchanged, compared to its average volume of 849,246. The stock has a market cap of $3.99 billion, a price-to-earnings ratio of -29.12 and a beta of 1.01. New Relic, Inc. has a fifty-two week low of $45.81 and a fifty-two week high of $81.10. The firm has a fifty day moving average price of $60.80 and a two-hundred day moving average price of $63.62. The company has a current ratio of 2.87, a quick ratio of 2.87 and a debt-to-equity ratio of 1.13.
New Relic (NYSE:NEWR) last posted its quarterly earnings results on Thursday, February 4th. The software maker reported ($0.14) earnings per share for the quarter, topping the Thomson Reuters' consensus estimate of ($0.72) by $0.58. The firm had revenue of $166.34 million for the quarter, compared to analyst estimates of $164.81 million. New Relic had a negative return on equity of 26.93% and a negative net margin of 20.65%. As a group, research analysts predict that New Relic, Inc. will post -2.32 EPS for the current year.
Several equities analysts have recently weighed in on the company. UBS Group cut New Relic from a "buy" rating to a "neutral" rating and cut their price objective for the company from $89.00 to $76.00 in a report on Friday, February 5th. Raymond James cut New Relic from a "strong-buy" rating to a "market perform" rating in a report on Friday, February 5th. Oppenheimer cut New Relic from an "outperform" rating to a "market perform" rating in a research note on Friday, February 5th. BMO Capital Markets boosted their target price on New Relic from $64.00 to $71.00 and gave the company a "market perform" rating in a research note on Friday, February 5th. Finally, Needham & Company LLC cut their target price on New Relic from $82.00 to $78.00 and set a "buy" rating on the stock in a research note on Friday, February 5th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company. New Relic has an average rating of "Hold" and an average price target of $70.06.
Several hedge funds have recently bought and sold shares of the stock. Jana Partners LLC acquired a new position in shares of New Relic during the 3rd quarter worth approximately $30,790,000. Norges Bank acquired a new position in shares of New Relic during the 4th quarter worth approximately $30,946,000. Nuveen Asset Management LLC increased its holdings in shares of New Relic by 22.5% during the 4th quarter. Nuveen Asset Management LLC now owns 443,529 shares of the software maker's stock worth $29,007,000 after acquiring an additional 81,550 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of New Relic by 2.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 371,069 shares of the software maker's stock worth $24,268,000 after acquiring an additional 8,243 shares during the last quarter. Finally, State of Wisconsin Investment Board increased its holdings in shares of New Relic by 8.8% during the 4th quarter. State of Wisconsin Investment Board now owns 228,826 shares of the software maker's stock worth $14,965,000 after acquiring an additional 18,598 shares during the last quarter. 86.04% of the stock is currently owned by institutional investors and hedge funds.
About New Relic
New Relic, Inc, a software-as-a-service company, provides platform that companies use to build, develop, and operate their digital businesses 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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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]7 Stocks to Buy As Americans Receive Stimulus Checks
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