Shares of the company are trading at $51.33 a bit higher than $48.79, the 50 day moving average and which is impressively higher than the 200 day moving average of $44.37. The 50 day moving average moved up $2.54 and the 200 day average was up $6.96. Trading volume for New Relic, Inc. was 1,911 by the end of trading on Tuesday. Overall, volume was down 99.50% under the stocks normal daily volume.
Investors are feeling more bearish on New Relic, Inc. of late if you pay attention to the motion in short interest. The stock saw a rise in short interest of 27.09% between August 15, 2017 and August 31, 2017. Short interest grew 532,628 over that period. The days to cover increased to 6.0 and the percentage of shorted shares was 0.05% on August 31.
There has been some selling insider activity on New Relic, Inc. (NYSE:NEWR) recently. Robin Schulman, VP sold $65,575 worth of shares at a price of $48.61 on Mon the 18th. That brings Schulman’s holdings to $51,770 as reported to the SEC. Mark Sachleben, CFO let go of $238,450 worth of shares at an average price of $47.69 on Mon the 25th. That brings the CFO’s holdings to $4,983,605 per an SEC filing yesterday.
CFO Mark Sachleben let go of 5,000 shares at an average price of $50.40 on October 5th. The CFO now owns $5,014,800 of the stock as recorded in a recent Form 4 SEC filing.
These firms have modified their investment in NEWR. Engineers Gate Manager Lp bolstered its position by buying 20,865 shares an increase of 47.2% from 03/31/2017 to 06/30/2017. Engineers Gate Manager Lp currently owns 65,052 shares with a value of $2,798,000. The value of the position overall is up by 70.8%. As of the end of the quarter Gagnon Advisors, LLC had bought 264 shares growing its position 0.2%. The value of the total investment in New Relic, Inc. increased from $4,161,000 to $4,839,000 increasing 16.3% since the last quarter.
As of quarter end Raine Capital LLC had disposed of a total of 125,000 shares trimming its stake by 41.7%. The value of the investment in (NEWR) went from $11,121,000 to $7,527,000 a change of 32.3% for the reporting period. As of quarter end Point72 Asset Management, L.p. had bought 7,800 shares growing its holdings by 4.6%. The value in dollars increased from $6,228,000 to $7,561,000 a change of $1,333,000 quarter over quarter.
Equity analyst Morgan Stanley raised the price target and downgraded the stock on July 20 changing the price target from $45.00 to $48.00 and moving the rating from “Overweight” to “Equal-Weight”. On July 20 the company was downgraded to “Equal-Weight” from “Overweight” with a current price target of $48.00 by Morgan Stanley.
In the latest earnings report the EPS was $-1.12 and is expected to be $-0.25 for the current year with 54,516,000 shares now outstanding. Analysts expect next quarter’s EPS will be $-0.07 and the next full year EPS is anticipated to be $0.21.
New Relic, Inc. (New Relic), launched on October 5, 2007, is a provider of enterprise software. The Business’s cloud-based platform and range of products (known as New Relic Software Analytics Cloud) enable organizations to collect, store and analyze software data in real time. The Business’s New Relic Software Analytics Cloud consists of an integrated suite of products, a data database and an open platform. Its products for technology users focus on software performance management and monitoring. New Relic offers an integrated suite of products, which include New Relic APM for application performance management; New Relic Mobile for mobile application performance management; New Relic Servers for server monitoring for cloud and data centers; New Relic Browser for end user experience monitoring and performance monitoring; New Relic Synthetics for software testing through simulated usage; New Relic Plugins, which are plugins to extend its functionality into other applications; New Relic Alerts for policy management and delivering alerts across entire suite of products, and New Relic Insights for real-time big data analytics for business managers..