Robin Schulman Sells 298 Shares of New Relic, Inc. (NEWR) Stock

New Relic, Inc. (NYSE:NEWR) VP Robin Schulman sold 298 shares of New Relic stock in a transaction dated Friday, June 16th. The stock was sold at an average price of $41.33, for a total value of $12,316.34. Following the completion of the sale, the vice president now directly owns 1,365 shares of the company’s stock, valued at approximately $56,415.45. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Robin Schulman also recently made the following trade(s):

  • On Friday, May 19th, Robin Schulman sold 569 shares of New Relic stock. The stock was sold at an average price of $41.95, for a total value of $23,869.55.
  • On Thursday, May 18th, Robin Schulman sold 246 shares of New Relic stock. The stock was sold at an average price of $41.05, for a total value of $10,098.30.
  • On Tuesday, May 16th, Robin Schulman sold 2,599 shares of New Relic stock. The stock was sold at an average price of $43.72, for a total value of $113,628.28.
  • On Tuesday, May 9th, Robin Schulman sold 2,083 shares of New Relic stock. The stock was sold at an average price of $40.42, for a total value of $84,194.86.
  • On Monday, May 1st, Robin Schulman sold 667 shares of New Relic stock. The stock was sold at an average price of $40.00, for a total value of $26,680.00.
  • On Wednesday, April 19th, Robin Schulman sold 668 shares of New Relic stock. The stock was sold at an average price of $39.98, for a total value of $26,706.64.
  • On Monday, March 20th, Robin Schulman sold 489 shares of New Relic stock. The stock was sold at an average price of $36.50, for a total value of $17,848.50.

New Relic, Inc. (NEWR) traded up 0.39% on Friday, reaching $41.09. The company’s stock had a trading volume of 591,219 shares. The stock has a 50-day moving average of $42.51 and a 200-day moving average of $36.45. The stock’s market cap is $2.20 billion. New Relic, Inc. has a one year low of $27.20 and a one year high of $45.32.

New Relic (NYSE:NEWR) last released its earnings results on Tuesday, May 9th. The software maker reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.04. New Relic had a negative return on equity of 30.80% and a negative net margin of 23.18%. The firm had revenue of $73.30 million during the quarter, compared to analysts’ expectations of $73.04 million. During the same quarter last year, the business posted ($0.24) earnings per share. The firm’s revenue was up 39.6% on a year-over-year basis. On average, analysts predict that New Relic, Inc. will post ($0.27) EPS for the current fiscal 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 the company. Capstone Investment Advisors LLC acquired a new stake in New Relic during the fourth quarter valued at about $889,000. Arrowpoint Asset Management LLC boosted its stake in New Relic by 53.9% in the fourth quarter. Arrowpoint Asset Management LLC now owns 1,463,224 shares of the software maker’s stock valued at $41,336,000 after buying an additional 512,292 shares in the last quarter. Champlain Investment Partners LLC acquired a new stake in New Relic during the fourth quarter valued at about $39,206,000. Renaissance Technologies LLC acquired a new stake in New Relic during the fourth quarter valued at about $2,270,000. Finally, Advisory Research Inc. acquired a new stake in New Relic during the fourth quarter valued at about $2,873,000. Hedge funds and other institutional investors own 72.31% of the company’s stock.

Several equities research analysts recently weighed in on the company. Stephens assumed coverage on New Relic in a report on Thursday, May 25th. They issued an “overweight” rating and a $55.00 price objective for the company. Zacks Investment Research lowered New Relic from a “buy” rating to a “hold” rating in a report on Tuesday, May 16th. CIBC lifted their price objective on New Relic from $40.00 to $46.00 and gave the stock an “outperform” rating in a report on Monday, May 15th. Oppenheimer Holdings, Inc. reissued an “outperform” rating and issued a $46.00 price objective (up previously from $40.00) on shares of New Relic in a report on Friday, May 12th. Finally, Robert W. Baird lifted their price objective on New Relic from $40.00 to $42.00 and gave the stock an “outperform” rating in a report on Thursday, April 6th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $46.56.

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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