Insider Traded: New Relic Inc (NEWR) CFO Sold 3500 Shares of Shares

Erica Ruliffson Schultz promoted as New Relic's Chief Revenue Officer

Erica Ruliffson Schultz promoted as New Relic's Chief Revenue Officer

(NASDAQ:HOLX) shares were bought by Nawana Namal.

Other equities research analysts have also issued reports about the company. Reporting into Schultz, he will assume responsibility for Customer Success, Renewals and New Relic University, in addition to his existing responsibilities.

"Over the past several years, Erica and Roger have been instrumental in driving New Relic's growth and helping us become a trusted partner to numerous world's most important companies". Finally, ETRADE Capital Management LLC bought a new stake in shares of New Relic in the 4th quarter worth $270,000. Woodstock Corp acquired a new position in shares of New Relic in the 4th quarter valued at $212,000. The firm earned "Buy" rating on Wednesday, February 7 by Cowen & Co.

In total 13 analysts cover New Relic Inc (NYSE:NEWR).

In related news, CFO Mark Sachleben sold 10,000 shares of the stock in a transaction on Tuesday, April 10th. New Relic now has an average rating of "Buy" and an average price target of $66.57. Following the completion of the transaction, the insider now owns 333,476 shares of the company's stock, valued at approximately $19,444,985.56. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Robin Schulman sold 2,318 shares of New Relic stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $62.81, for a total value of $145,593.58. Teacher Retirement System of Texas now owns 3,429 shares of the company's stock worth $101,000 after buying an additional 737 shares during the period. The disclosure for this sale can be found here. During the same quarter in the prior year, the company earned ($0.09) EPS.

Several brokerages have commented on NEWR. In Friday, March 16 report Robert W. Baird maintained the stock with "Buy" rating. Needham & Company LLC lifted their price objective on New Relic from $73.00 to $84.00 and gave the company a "buy" rating in a research report on Monday, April 2nd. The stock outperformed the S&P500 by 92.50%. New Relic, based in San Francisco, United States. (NYSE:NEWR) with "Equal-Weight" rating. The analysts noted that the move was a valuation call. On Wednesday, February 7 the firm has "Hold" rating by BMO Capital Markets given. The rating was upgraded by DA Davidson on Wednesday, August 12 to "Buy".

Shares of NEWR stock traded down $1.85 during trading hours on Monday, hitting $73.13. About 924,295 shares traded or 81.62% up from the average. The company has a market capitalization of $4,156.99, a P/E ratio of -66.48 and a beta of 0.64. New Relic has a 12 month low of $38.19 and a 12 month high of $79.08.

New Relic (NYSE:NEWR) last issued its quarterly earnings results on Tuesday, February 7th. Analysts have expectation on stock's earnings per share of $-0.15. The firm had revenue of $91.83 million during the quarter, compared to analyst estimates of $89.31 million. That is 42.31 % up compareed to $-0.26 earnings per share for previous year.

TRADEMARK VIOLATION WARNING: This piece of content was reported by Week Herald and is the property of of Week Herald. If you are accessing this story on another publication, it was stolen and republished in violation of United States and worldwide trademark & copyright laws. The rating was maintained by JMP Securities with "Market Outperform" on Wednesday, November 8. The company??s cloud platform and suite of products include New Relic Digital Intelligence Platform, which enables organizations to collect, store, and analyze data.Last it reported negative earnings.

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