New Relic Inc (NYSE:NEWR) CRO Erica Schultz sold 3,623 shares of New Relic stock in a transaction dated Thursday, August 16th. The stock was sold at an average price of $103.03, for a total value of $373,277.69. Following the sale, the executive now owns 22,066 shares of the company’s stock, valued at approximately $2,273,459.98. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Erica Schultz also recently made the following trade(s):

  • On Monday, July 16th, Erica Schultz sold 1,800 shares of New Relic stock. The stock was sold at an average price of $106.74, for a total value of $192,132.00.
  • On Friday, June 15th, Erica Schultz sold 1,800 shares of New Relic stock. The stock was sold at an average price of $108.40, for a total value of $195,120.00.
  • On Monday, June 18th, Erica Schultz sold 2,689 shares of New Relic stock. The stock was sold at an average price of $108.64, for a total value of $292,132.96.

Shares of NYSE:NEWR opened at $100.49 on Friday. 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 12-month low of $45.32 and a 12-month high of $114.78. The stock has a market capitalization of $5.98 billion, a price-to-earnings ratio of -135.80 and a beta of 0.77.

New Relic (NYSE:NEWR) last released its quarterly earnings data on Tuesday, August 7th. The software maker reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.04. The business had revenue of $108.22 million for the quarter, compared to analyst estimates of $106.09 million. New Relic had a negative return on equity of 12.19% and a negative net margin of 9.13%. sell-side analysts expect that New Relic Inc will post -0.38 earnings per share for the current year.

A number of analysts recently commented on the company. Zacks Investment Research upgraded New Relic from a “hold” rating to a “buy” rating and set a $118.00 price objective for the company in a research report on Tuesday, August 14th. Morgan Stanley raised their price target on New Relic from $80.00 to $102.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 8th. Needham & Company LLC raised their price target on New Relic from $121.00 to $129.00 and gave the stock a “buy” rating in a research note on Wednesday, August 8th. BMO Capital Markets raised their price target on New Relic from $110.00 to $117.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 8th. Finally, Wedbush raised their price target on New Relic from $116.00 to $126.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 8th. Eight analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $99.13.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC lifted its stake in shares of New Relic by 95.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,198 shares of the software maker’s stock valued at $121,000 after purchasing an additional 584 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of New Relic by 43.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,553 shares of the software maker’s stock valued at $257,000 after purchasing an additional 768 shares in the last quarter. Xact Kapitalforvaltning AB lifted its stake in shares of New Relic by 24.8% in the 1st quarter. Xact Kapitalforvaltning AB now owns 5,037 shares of the software maker’s stock valued at $373,000 after purchasing an additional 1,000 shares in the last quarter. Gagnon Advisors LLC lifted its stake in shares of New Relic by 1.4% in the 2nd quarter. Gagnon Advisors LLC now owns 80,392 shares of the software maker’s stock valued at $8,087,000 after purchasing an additional 1,071 shares in the last quarter. Finally, Teacher Retirement System of Texas lifted its stake in shares of New Relic by 15.3% in the 2nd quarter. Teacher Retirement System of Texas now owns 8,431 shares of the software maker’s stock valued at $848,000 after purchasing an additional 1,120 shares in the last quarter. 71.87% of the stock is currently owned by institutional investors and hedge funds.

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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