New Relic Inc (NYSE:NEWR) Director Sells $5,688,225.95 in Stock

New Relic Inc (NYSE:NEWR) Director Peter H. Fenton sold 51,971 shares of the company’s stock in a transaction on Wednesday, September 12th. The stock was sold at an average price of $109.45, for a total transaction of $5,688,225.95. Following the sale, the director now directly owns 154 shares in the company, valued at $16,855.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Shares of NEWR stock traded up $0.12 on Friday, reaching $89.21. The company had a trading volume of 1,448,944 shares, compared to its average volume of 715,938. The stock has a market capitalization of $5.32 billion, a P/E ratio of -120.55 and a beta of 0.79. The company has a current ratio of 3.83, a quick ratio of 3.83 and a debt-to-equity ratio of 1.28. New Relic Inc has a one year low of $49.56 and a one year high of $114.78.

New Relic (NYSE:NEWR) last posted its earnings results on Tuesday, August 7th. The software maker reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.04. The firm had revenue of $108.22 million during the quarter, compared to analysts’ expectations of $106.09 million. New Relic had a negative net margin of 9.13% and a negative return on equity of 12.19%. As a group, equities analysts predict that New Relic Inc will post -0.38 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Centre Asset Management LLC bought a new position in New Relic during the 3rd quarter worth approximately $277,000. United Services Automobile Association raised its holdings 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 purchasing an additional 3,100 shares during the last quarter. Northern Trust Corp raised its holdings in New Relic by 31.9% during the 2nd quarter. Northern Trust Corp now owns 545,278 shares of the software maker’s stock worth $54,849,000 after purchasing an additional 131,821 shares during the last quarter. Nomura Holdings Inc. bought a new position in New Relic during the 2nd quarter worth approximately $64,051,000. Finally, Verition Fund Management LLC raised its holdings in New Relic by 122.5% during the 2nd quarter. Verition Fund Management LLC now owns 8,365 shares of the software maker’s stock worth $841,000 after purchasing an additional 4,605 shares during the last quarter. Institutional investors and hedge funds own 77.20% of the company’s stock.

NEWR has been the topic of several research analyst reports. ValuEngine lowered shares of New Relic from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 30th. TheStreet upgraded shares of New Relic from a “d” rating to a “c” rating in a research note on Thursday, August 23rd. Needham & Company LLC upped their price target on shares of New Relic from $121.00 to $129.00 and gave the company a “buy” rating in a research note on Wednesday, August 8th. Wedbush upped their price target on shares of New Relic from $116.00 to $126.00 and gave the company an “outperform” rating in a research note on Wednesday, August 8th. Finally, Argus started coverage on shares of New Relic in a research note on Tuesday, July 17th. They issued a “hold” rating on the stock. Eight research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $99.13.

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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