New Relic Inc. (NYSE:NEWR) insider James R. Gochee sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 14th. The shares were sold at an average price of $36.05, for a total value of $144,200.00. Following the transaction, the insider now directly owns 390,565 shares of the company’s stock, valued at $14,079,868.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Shares of New Relic Inc. (NYSE:NEWR) opened at 36.98 on Monday. The firm’s market capitalization is $1.88 billion. The firm has a 50-day moving average price of $35.69 and a 200-day moving average price of $29.80. New Relic Inc. has a 52-week low of $20.39 and a 52-week high of $40.13.

New Relic (NYSE:NEWR) last released its earnings results on Tuesday, August 2nd. The company reported ($0.20) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate 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 analysts’ expectations of $56.96 million. During the same quarter last year, the company earned ($0.21) earnings per share. The firm’s revenue was up 53.8% on a year-over-year basis. On average, equities research analysts anticipate that New Relic Inc. will post ($0.62) EPS for the current year.

Several large investors have recently added to or reduced their stakes in the stock. Teacher Retirement System of Texas boosted its stake in New Relic by 27.4% in the second quarter. Teacher Retirement System of Texas now owns 3,429 shares of the company’s stock valued at $101,000 after buying an additional 737 shares during the last quarter. Paradigm Asset Management Co. LLC boosted its stake in New Relic by 15.2% in the second quarter. Paradigm Asset Management Co. LLC now owns 3,800 shares of the company’s stock valued at $112,000 after buying an additional 500 shares during the last quarter. Clinton Group Inc. bought a new stake in New Relic during the second quarter valued at $239,000. UBS Asset Management Americas Inc. bought a new stake in New Relic during the second quarter valued at $247,000. Finally, Citigroup Inc. boosted its stake in New Relic by 62.6% in the second quarter. Citigroup Inc. now owns 9,775 shares of the company’s stock valued at $287,000 after buying an additional 3,763 shares during the last quarter. Institutional investors and hedge funds own 58.79% of the company’s stock.

Several research firms have recently commented on NEWR. Cowen and Company began coverage on New Relic in a report on Friday, June 24th. They set an “outperform” rating and a $38.00 target price for the company. Pacific Crest reaffirmed a “buy” rating on shares of New Relic in a report on Sunday, May 22nd. Finally, Oppenheimer Holdings Inc. reaffirmed a “buy” rating on shares of New Relic in a report on Saturday, June 4th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $38.00.

New Relic Company Profile

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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