A Director at New Relic Inc (NEWR) is Selling Shares
Yesterday, a Director at New Relic Inc (NYSE: NEWR), Peter Fenton, sold shares of NEWR for $5.69M.
This is Fenton’s first transaction since reporting a Buy transaction on HDP back in February 2016 In addition to Peter Fenton, 2 other NEWR executives reported Sell trades in the last month.
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Based on New Relic Inc’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $108 million and GAAP net loss of $5.62 million. In comparison, last year the company earned revenue of $80.1 million and had a GAAP net loss of $15.93 million. Currently, New Relic Inc has an average volume of 1.01M. The Company has a Price to Book ratio of 19.9837.
Based on 8 analyst ratings, the analyst consensus is Strong Buy with an average price target of $117.86, reflecting a 9.5% upside.
The insider sentiment on New Relic Inc has been negative according to 129 insider trades in the past three months. This sentiment is lower than the average sentiment of company insiders in this sector.
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New Relic, Inc. engages in the provision of software-as-a-services for digital intelligence products. It allows the users to monitor software and infrastructure performance and measure end user activities through desktop and mobile devices. The company was founded by Lewis Cirne in September 2007 and is headquartered in San Francisco, CA.