New Relic Inc (NEWR) CFO Mark Sachleben Sells 5,000 Shares

New Relic Inc (NYSE:NEWR) CFO Mark Sachleben sold 5,000 shares of the firm’s stock in a transaction on Thursday, January 4th. The shares were sold at an average price of $59.35, for a total value of $296,750.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Mark Sachleben also recently made the following trade(s):

  • On Wednesday, December 20th, Mark Sachleben sold 6,042 shares of New Relic stock. The shares were sold at an average price of $59.30, for a total value of $358,290.60.
  • On Monday, December 18th, Mark Sachleben sold 1,161 shares of New Relic stock. The shares were sold at an average price of $59.21, for a total value of $68,742.81.
  • On Monday, December 11th, Mark Sachleben sold 10,000 shares of New Relic stock. The stock was sold at an average price of $59.07, for a total value of $590,700.00.
  • On Thursday, December 7th, Mark Sachleben sold 5,000 shares of New Relic stock. The stock was sold at an average price of $56.35, for a total value of $281,750.00.
  • On Monday, November 27th, Mark Sachleben sold 5,000 shares of New Relic stock. The stock was sold at an average price of $59.04, for a total value of $295,200.00.
  • On Monday, November 20th, Mark Sachleben sold 1,645 shares of New Relic stock. The stock was sold at an average price of $55.13, for a total value of $90,688.85.
  • On Thursday, November 16th, Mark Sachleben sold 2,238 shares of New Relic stock. The stock was sold at an average price of $55.53, for a total value of $124,276.14.
  • On Monday, November 13th, Mark Sachleben sold 10,000 shares of New Relic stock. The stock was sold at an average price of $52.55, for a total value of $525,500.00.
  • On Thursday, November 9th, Mark Sachleben sold 5,000 shares of New Relic stock. The stock was sold at an average price of $52.98, for a total value of $264,900.00.
  • On Monday, October 23rd, Mark Sachleben sold 5,000 shares of New Relic stock. The stock was sold at an average price of $52.40, for a total value of $262,000.00.

New Relic Inc (NYSE NEWR) traded up $0.55 during midday trading on Friday, hitting $59.90. The stock had a trading volume of 102,648 shares, compared to its average volume of 394,500. The firm has a market cap of $3,270.00, a price-to-earnings ratio of -53.96 and a beta of 1.03. New Relic Inc has a fifty-two week low of $30.01 and a fifty-two week high of $60.85.

New Relic (NYSE:NEWR) last released its quarterly earnings data on Tuesday, November 7th. The software maker reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.04. The business had revenue of $84.68 million for the quarter, compared to analyst estimates of $82.98 million. New Relic had a negative return on equity of 29.19% and a negative net margin of 19.43%. The company’s revenue was up 33.5% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.09) EPS. research analysts forecast that New Relic Inc will post -0.98 earnings per share for the current year.

A number of analysts recently commented on NEWR shares. Zacks Investment Research upgraded New Relic from a “hold” rating to a “buy” rating and set a $56.00 price objective for the company in a research report on Wednesday, October 4th. UBS Group started coverage on New Relic in a research report on Thursday, November 9th. They set a “neutral” rating and a $53.00 price objective for the company. KeyCorp reiterated an “overweight” rating and set a $57.00 price objective (up previously from $52.00) on shares of New Relic in a research report on Wednesday, November 8th. BidaskClub lowered New Relic from a “buy” rating to a “hold” rating in a research note on Tuesday, November 7th. Finally, Needham & Company LLC initiated coverage on New Relic in a research note on Monday, October 23rd. They issued a “buy” rating and a $69.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $55.21.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Crow Point Partners LLC acquired a new position in shares of New Relic in the 4th quarter valued at about $113,000. AXA lifted its stake in shares of New Relic by 8.2% in the 3rd quarter. AXA now owns 171,000 shares of the software maker’s stock valued at $8,516,000 after purchasing an additional 13,000 shares in the last quarter. Granahan Investment Management Inc. MA purchased a new stake in shares of New Relic during the 3rd quarter valued at about $269,000. PEAK6 Investments L.P. raised its holdings in shares of New Relic by 107.6% during the 3rd quarter. PEAK6 Investments L.P. now owns 17,403 shares of the software maker’s stock valued at $867,000 after buying an additional 9,019 shares during the period. Finally, Asset Management One Co. Ltd. raised its holdings in shares of New Relic by 48.6% during the 3rd quarter. Asset Management One Co. Ltd. now owns 14,858 shares of the software maker’s stock valued at $731,000 after buying an additional 4,859 shares during the period. 76.45% of the stock is currently owned by institutional investors and hedge funds.

ILLEGAL ACTIVITY NOTICE: This report was first published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are viewing this report on another website, it was illegally stolen and republished in violation of U.S. and international copyright and trademark laws. The legal version of this report can be accessed at https://ledgergazette.com/2018/01/12/new-relic-inc-newr-cfo-mark-sachleben-sells-5000-shares.html.

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.

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

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