Insider Selling: New Relic, Inc. (NYSE:NEWR) CEO Sells 1,000 Shares of Stock

Wednesday, April 7, 2021 | MarketBeat

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

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