New Relic Inc (NYSE:NEWR) was the recipient of unusually large options trading activity on Thursday. Stock traders bought 900 call options on the company. This is an increase of approximately 1,507% compared to the typical volume of 56 call options.

Several equities analysts have recently issued reports on the stock. Robert W. Baird boosted their price target on shares of New Relic from $65.00 to $68.00 and gave the company an “outperform” rating in a report on Wednesday, February 7th. JMP Securities boosted their price target on shares of New Relic from $54.00 to $56.00 and gave the company a “market outperform” rating in a report on Wednesday, November 8th. BMO Capital Markets boosted their price target on shares of New Relic from $68.00 to $71.00 and gave the company a “market perform” rating in a report on Wednesday, February 7th. Needham & Company LLC boosted their price target on shares of New Relic from $69.00 to $73.00 and gave the company a “buy” rating in a report on Wednesday, February 7th. Finally, Oppenheimer boosted their price target on shares of New Relic from $57.00 to $66.00 and gave the company an “outperform” rating in a report on Wednesday, February 7th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. New Relic currently has a consensus rating of “Buy” and an average price target of $60.00.

Shares of New Relic (NYSE:NEWR) opened at $63.91 on Tuesday. New Relic has a one year low of $33.10 and a one year high of $66.10. The firm has a market cap of $3,520.00, a PE ratio of -64.56 and a beta of 0.98.

New Relic (NYSE:NEWR) last issued its quarterly earnings data on Tuesday, February 6th. The software maker reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.12. New Relic had a negative net margin of 16.17% and a negative return on equity of 25.22%. The business had revenue of $91.83 million for the quarter, compared to analysts’ expectations of $89.31 million. During the same period in the previous year, the business earned ($0.09) earnings per share. The company’s revenue was up 34.8% on a year-over-year basis. sell-side analysts forecast that New Relic will post -0.81 EPS for the current fiscal year.

In other New Relic news, CFO Mark Sachleben sold 10,000 shares of New Relic stock in a transaction on Monday, February 12th. The shares were sold at an average price of $64.71, for a total value of $647,100.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Robin Schulman sold 1,797 shares of New Relic stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $54.44, for a total transaction of $97,828.68. Following the completion of the transaction, the vice president now directly owns 1,107 shares of the company’s stock, valued at approximately $60,265.08. The disclosure for this sale can be found here. In the last ninety days, insiders sold 172,458 shares of company stock valued at $10,201,191. 23.10% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of NEWR. Schwab Charles Investment Management Inc. raised its stake in shares of New Relic by 21.2% during the second quarter. Schwab Charles Investment Management Inc. now owns 131,923 shares of the software maker’s stock valued at $5,675,000 after purchasing an additional 23,082 shares in the last quarter. Teachers Advisors LLC raised its stake in shares of New Relic by 28.2% during the second quarter. Teachers Advisors LLC now owns 74,517 shares of the software maker’s stock valued at $3,205,000 after purchasing an additional 16,392 shares in the last quarter. Ameriprise Financial Inc. bought a new stake in shares of New Relic during the second quarter valued at about $1,294,000. Nationwide Fund Advisors raised its stake in shares of New Relic by 31.1% during the second quarter. Nationwide Fund Advisors now owns 16,626 shares of the software maker’s stock valued at $715,000 after purchasing an additional 3,945 shares in the last quarter. Finally, New York State Common Retirement Fund raised its stake in shares of New Relic by 15.6% during the second quarter. New York State Common Retirement Fund now owns 64,605 shares of the software maker’s stock valued at $2,779,000 after purchasing an additional 8,699 shares in the last quarter. Institutional investors and hedge funds own 75.49% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: “New Relic Target of Unusually High Options Trading (NEWR)” was first published by TheOlympiaReport and is owned by of TheOlympiaReport. If you are reading this news story on another domain, it was copied illegally and republished in violation of US and international copyright law. The legal version of this news story can be accessed at https://theolympiareport.com/2018/02/13/new-relic-target-of-unusually-high-options-trading-newr.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.

Receive News & Ratings for New Relic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for New Relic and related companies with MarketBeat.com's FREE daily email newsletter.