New Relic Inc (NYSE:NEWR) Director Peter H. Fenton sold 51,971 shares of the business’s stock in a transaction on Wednesday, September 12th. The shares were sold at an average price of $109.45, for a total value of $5,688,225.95. Following the transaction, the director now owns 154 shares of the company’s stock, valued at approximately $16,855.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Shares of NYSE NEWR traded down $3.21 during mid-day trading on Monday, reaching $86.00. 1,048,400 shares of the company were exchanged, compared to its average volume of 717,652. New Relic Inc has a 1 year low of $49.56 and a 1 year high of $114.78. The stock has a market capitalization of $5.32 billion, a P/E ratio of -116.22 and a beta of 0.79. The company has a debt-to-equity ratio of 1.28, a current ratio of 3.83 and a quick ratio of 3.83.
New Relic (NYSE:NEWR) last announced its earnings results on Tuesday, August 7th. The software maker reported $0.15 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.04. New Relic had a negative return on equity of 12.19% and a negative net margin of 9.13%. The company had revenue of $108.22 million for the quarter, compared to analyst estimates of $106.09 million. As a group, equities research analysts anticipate that New Relic Inc will post -0.38 earnings per share for the current fiscal year.
A number of equities analysts recently issued reports on the company. BMO Capital Markets boosted their price objective on New Relic from $110.00 to $117.00 and gave the company an “outperform” rating in a report on Wednesday, August 8th. Morgan Stanley boosted their price objective on New Relic from $80.00 to $102.00 and gave the company an “equal weight” rating in a report on Wednesday, August 8th. ValuEngine cut New Relic from a “strong-buy” rating to a “buy” rating in a report on Monday, July 30th. DA Davidson started coverage on New Relic in a report on Wednesday, July 11th. They issued a “neutral” rating and a $105.00 target price for the company. Finally, Deutsche Bank started coverage on New Relic in a report on Monday, June 25th. They issued a “buy” rating and a $125.00 target price for the company. Eight investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. New Relic has a consensus rating of “Buy” and a consensus target price of $99.13.
Large investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC increased its position in New Relic by 95.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,198 shares of the software maker’s stock valued at $121,000 after buying an additional 584 shares in the last quarter. Cerebellum GP LLC acquired a new stake in New Relic during the second quarter worth about $172,000. Stratos Wealth Partners LTD. acquired a new stake in New Relic during the first quarter worth about $141,000. CIBC Asset Management Inc purchased a new position in New Relic during the second quarter worth approximately $200,000. Finally, Congress Park Capital LLC purchased a new position in shares of New Relic in the second quarter valued at approximately $231,000. 77.20% of the stock is currently owned by institutional investors.
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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