James R. Gochee Sells 428 Shares of New Relic, Inc. (NEWR) Stock

New Relic, Inc. (NYSE:NEWR) insider James R. Gochee sold 428 shares of the company’s stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $59.10, for a total transaction of $25,294.80. Following the sale, the insider now directly owns 337,904 shares in the company, valued at $19,970,126.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Shares of New Relic, Inc. (NYSE NEWR) traded down $0.55 during trading hours on Tuesday, hitting $59.31. 388,938 shares of the company’s stock were exchanged, compared to its average volume of 478,604. New Relic, Inc. has a 52 week low of $27.85 and a 52 week high of $60.85.

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

Several large investors have recently made changes to their positions in the business. AXA increased its position 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 during the last quarter. Granahan Investment Management Inc. MA purchased a new stake in shares of New Relic in the 3rd quarter valued at approximately $269,000. PEAK6 Investments L.P. increased its position in shares of New Relic by 107.6% in the 3rd quarter. PEAK6 Investments L.P. now owns 17,403 shares of the software maker’s stock valued at $867,000 after purchasing an additional 9,019 shares during the last quarter. Asset Management One Co. Ltd. increased its position in shares of New Relic by 48.6% in the 3rd quarter. Asset Management One Co. Ltd. now owns 14,858 shares of the software maker’s stock valued at $731,000 after purchasing an additional 4,859 shares during the last quarter. Finally, Westfield Capital Management Co. LP purchased a new stake in shares of New Relic in the 3rd quarter valued at approximately $23,221,000. 76.45% of the stock is currently owned by institutional investors.

NEWR has been the topic of several recent research reports. JMP Securities upped their target price on shares of New Relic from $54.00 to $56.00 and gave the stock a “market outperform” rating in a research note on Wednesday, November 8th. BidaskClub raised shares of New Relic from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 24th. Needham & Company LLC initiated coverage on shares of New Relic in a research note on Monday, October 23rd. They set a “buy” rating and a $69.00 target price on the stock. Oppenheimer reaffirmed a “buy” rating and set a $50.00 target price on shares of New Relic in a research note on Tuesday, September 19th. Finally, Zacks Investment Research downgraded shares of New Relic from a “buy” rating to a “hold” rating in a research note on Thursday, October 5th. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $54.23.

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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.

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

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