Lewis Cirne Sells 16,000 Shares of New Relic Inc (NEWR) Stock

New Relic Inc (NYSE:NEWR) CEO Lewis Cirne sold 16,000 shares of New Relic stock in a transaction that occurred on Monday, February 11th. The stock was sold at an average price of $104.09, for a total value of $1,665,440.00. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Lewis Cirne also recently made the following trade(s):

  • On Monday, February 4th, Lewis Cirne sold 4,000 shares of New Relic stock. The stock was sold at an average price of $106.31, for a total value of $425,240.00.
  • On Thursday, January 3rd, Lewis Cirne sold 89,000 shares of New Relic stock. The stock was sold at an average price of $76.40, for a total value of $6,799,600.00.
  • On Tuesday, December 4th, Lewis Cirne sold 89,000 shares of New Relic stock. The stock was sold at an average price of $84.76, for a total value of $7,543,640.00.

Shares of NEWR traded down $0.11 during midday trading on Monday, hitting $103.10. The company’s stock had a trading volume of 701,100 shares, compared to its average volume of 739,886. New Relic Inc has a one year low of $63.52 and a one year high of $114.78. The company has a debt-to-equity ratio of 1.23, a quick ratio of 3.53 and a current ratio of 3.53. The firm has a market cap of $5.92 billion, a price-to-earnings ratio of -139.32 and a beta of 1.05.

New Relic (NYSE:NEWR) last issued its quarterly earnings results on Wednesday, February 6th. The software maker reported ($0.07) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.10) by $0.03. New Relic had a negative return on equity of 6.08% and a negative net margin of 6.96%. The company had revenue of $124.00 million for the quarter, compared to analyst estimates of $120.18 million. During the same quarter last year, the company posted $0.05 EPS. The company’s revenue for the quarter was up 35.1% compared to the same quarter last year. As a group, research analysts forecast that New Relic Inc will post -0.36 EPS for the current fiscal year.

A number of equities analysts have commented on NEWR shares. DA Davidson upgraded New Relic from a “neutral” rating to a “buy” rating and set a $105.00 price objective on the stock in a research note on Tuesday, October 23rd. They noted that the move was a valuation call. Zacks Investment Research upgraded New Relic from a “hold” rating to a “strong-buy” rating and set a $94.00 price objective on the stock in a research note on Friday, October 26th. ValuEngine lowered New Relic from a “buy” rating to a “hold” rating in a research note on Tuesday, November 6th. First Analysis upgraded New Relic from an “outperform” rating to a “strong-buy” rating and raised their price objective for the stock from $114.00 to $116.00 in a research note on Wednesday, November 7th. Finally, BMO Capital Markets lowered their price objective on New Relic from $117.00 to $110.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 7th. Four analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $110.14.

Several institutional investors and hedge funds have recently modified their holdings of NEWR. Dimensional Fund Advisors LP increased its stake in shares of New Relic by 723.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 75,364 shares of the software maker’s stock valued at $7,581,000 after purchasing an additional 66,208 shares during the last quarter. Raymond James & Associates grew its position in New Relic by 75.2% during the 2nd quarter. Raymond James & Associates now owns 6,339 shares of the software maker’s stock worth $638,000 after acquiring an additional 2,721 shares during the last quarter. California Public Employees Retirement System grew its position in New Relic by 55.0% during the 2nd quarter. California Public Employees Retirement System now owns 46,455 shares of the software maker’s stock worth $4,673,000 after acquiring an additional 16,493 shares during the last quarter. United Services Automobile Association grew its position in New Relic by 10.9% during the 2nd quarter. United Services Automobile Association now owns 31,603 shares of the software maker’s stock worth $3,179,000 after acquiring an additional 3,100 shares during the last quarter. Finally, NJ State Employees Deferred Compensation Plan bought a new stake in New Relic during the 3rd quarter worth $471,000. Institutional investors own 78.46% of the company’s stock.

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New Relic Company Profile

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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