New Relic Inc. (NYSE:NEWR) insider James R. Gochee sold 304 shares of the stock in a transaction on Friday, September 16th. The stock was sold at an average price of $36.83, for a total value of $11,196.32. Following the sale, the insider now owns 387,394 shares in the company, valued at approximately $14,267,721.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

New Relic Inc. (NYSE:NEWR) opened at 38.00 on Thursday. The company has a 50-day moving average price of $36.17 and a 200-day moving average price of $30.20. New Relic Inc. has a 1-year low of $20.39 and a 1-year high of $40.13. The company’s market cap is $1.93 billion.

New Relic (NYSE:NEWR) last posted its earnings results on Tuesday, August 2nd. The company reported ($0.20) EPS for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.03. New Relic had a negative net margin of 34.91% and a negative return on equity of 34.30%. The business earned $58.60 million during the quarter, compared to the consensus estimate of $56.96 million. During the same quarter in the previous year, the firm posted ($0.21) EPS. The firm’s revenue was up 53.8% on a year-over-year basis. On average, analysts expect that New Relic Inc. will post ($0.62) EPS for the current fiscal year.

A number of large investors have recently bought and sold shares of the company. Polar Capital LLP bought a new stake in New Relic during the second quarter worth approximately $11,418,000. BlackRock Fund Advisors increased its stake in New Relic by 251.6% in the second quarter. BlackRock Fund Advisors now owns 527,586 shares of the company’s stock worth $15,500,000 after buying an additional 377,522 shares during the period. State Street Corp increased its stake in New Relic by 215.5% in the second quarter. State Street Corp now owns 336,324 shares of the company’s stock worth $9,883,000 after buying an additional 229,727 shares during the period. Vanguard Group Inc. increased its stake in New Relic by 13.6% in the second quarter. Vanguard Group Inc. now owns 1,862,972 shares of the company’s stock worth $54,734,000 after buying an additional 223,679 shares during the period. Finally, BlackRock Institutional Trust Company N.A. increased its stake in New Relic by 59.1% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 541,253 shares of the company’s stock worth $15,902,000 after buying an additional 200,994 shares during the period. 58.44% of the stock is owned by institutional investors and hedge funds.

Several research firms have issued reports on NEWR. Oppenheimer Holdings Inc. restated a “buy” rating on shares of New Relic in a research report on Saturday, June 4th. Cowen and Company began coverage on New Relic in a research report on Friday, June 24th. They set an “outperform” rating and a $38.00 target price on the stock. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $38.00.

About New Relic

New Relic, Inc (New Relic) is a provider of enterprise software. The Company’s cloud-based platform and range of products enable organizations to collect, store and analyze software data in real time. The Company’s New Relic Software Analytics Cloud consists of an integrated suite of products, a data database and an open platform.

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