New Relic Inc (NEWR) Insider James R. Gochee Sells 4,304 Shares of Stock

New Relic Inc (NYSE:NEWR) insider James R. Gochee sold 4,304 shares of the company’s stock in a transaction dated Thursday, March 16th. The shares were sold at an average price of $37.06, for a total transaction of $159,506.24. Following the sale, the insider now directly owns 367,019 shares of the company’s stock, valued at approximately $13,601,724.14. The sale was disclosed in a filing with the SEC, which is available at this link.

New Relic Inc (NYSE:NEWR) traded up 0.890% during trading on Monday, reaching $36.835. 171,726 shares of the company’s stock traded hands. New Relic Inc has a 1-year low of $23.45 and a 1-year high of $40.10. The firm has a 50 day moving average of $36.05 and a 200 day moving average of $34.38. The firm’s market capitalization is $1.94 billion.

New Relic (NYSE:NEWR) last released its earnings results on Tuesday, February 7th. The company reported ($0.09) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.14) by $0.05. New Relic had a negative net margin of 26.90% and a negative return on equity of 32.99%. The company earned $68.10 million during the quarter, compared to analysts’ expectations of $66.32 million. During the same quarter last year, the business earned ($0.22) EPS. The business’s revenue was up 42.6% on a year-over-year basis. Equities analysts forecast that New Relic Inc will post ($0.53) EPS for the current year.

Insider Buying and Selling by Quarter for New Relic (NYSE:NEWR)

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Several hedge funds have recently added to or reduced their stakes in NEWR. Matrix Capital Management Company LP bought a new stake in shares of New Relic during the third quarter valued at approximately $185,779,000. Champlain Investment Partners LLC bought a new stake in shares of New Relic during the fourth quarter valued at approximately $39,206,000. Praesidium Investment Management Company LLC bought a new stake in shares of New Relic during the third quarter valued at approximately $26,303,000. Arrowpoint Asset Management LLC boosted its stake in shares of New Relic by 53.9% in the fourth quarter. Arrowpoint Asset Management LLC now owns 1,463,224 shares of the company’s stock valued at $41,336,000 after buying an additional 512,292 shares during the period. Finally, Allianz Asset Management AG boosted its stake in shares of New Relic by 139.7% in the fourth quarter. Allianz Asset Management AG now owns 800,815 shares of the company’s stock valued at $22,623,000 after buying an additional 466,740 shares during the period. Institutional investors own 63.71% of the company’s stock.

Several analysts recently issued reports on NEWR shares. Cowen and Company reaffirmed an “outperform” rating and set a $38.00 price objective on shares of New Relic in a research note on Wednesday, January 25th. Robert W. Baird reaffirmed a “hold” rating on shares of New Relic in a research note on Wednesday, January 25th. Oppenheimer Holdings Inc. set a $40.00 price objective on shares of New Relic and gave the company a “buy” rating in a research note on Saturday, March 11th. Pacific Crest reaffirmed an “overweight” rating on shares of New Relic in a research note on Friday, January 27th. Finally, DA Davidson set a $49.00 price objective on shares of New Relic and gave the company a “buy” rating in a research note on Tuesday, November 22nd. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. New Relic currently has an average rating of “Buy” and a consensus price target of $43.43.

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.

5 Day Chart for NYSE:NEWR

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