New Relic, Inc. (NYSE:NEWR) Chairman Lewis Cirne Sells 30,000 Shares

New Relic, Inc. (NYSE:NEWRGet Rating) Chairman Lewis Cirne sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 7th. The shares were sold at an average price of $50.60, for a total value of $1,518,000.00. Following the sale, the chairman now owns 45,438 shares of the company’s stock, valued at approximately $2,299,162.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Lewis Cirne also recently made the following trade(s):

  • On Friday, May 20th, Lewis Cirne sold 2,000 shares of New Relic stock. The stock was sold at an average price of $46.48, for a total value of $92,960.00.
  • On Friday, May 6th, Lewis Cirne sold 30,000 shares of New Relic stock. The stock was sold at an average price of $57.71, for a total value of $1,731,300.00.
  • On Wednesday, April 6th, Lewis Cirne sold 30,000 shares of New Relic stock. The stock was sold at an average price of $66.12, for a total value of $1,983,600.00.

New Relic stock traded up $0.85 during mid-day trading on Wednesday, hitting $52.06. 1,099,803 shares of the company’s stock traded hands, compared to its average volume of 1,116,780. The firm has a 50 day moving average price of $58.12 and a 200 day moving average price of $78.84. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 1.54. The company has a market cap of $3.48 billion, a PE ratio of -13.42 and a beta of 1.01. New Relic, Inc. has a one year low of $41.66 and a one year high of $129.70.

A number of institutional investors have recently made changes to their positions in the business. Quadrant Capital Group LLC raised its stake in shares of New Relic by 77.7% in the 4th quarter. Quadrant Capital Group LLC now owns 231 shares of the software maker’s stock worth $25,000 after buying an additional 101 shares in the last quarter. CWM LLC bought a new stake in shares of New Relic in the 4th quarter worth $25,000. Tcwp LLC bought a new stake in shares of New Relic in the 1st quarter worth $52,000. Canada Pension Plan Investment Board raised its stake in shares of New Relic by 132.0% in the 4th quarter. Canada Pension Plan Investment Board now owns 559 shares of the software maker’s stock worth $62,000 after buying an additional 318 shares in the last quarter. Finally, Private Ocean LLC raised its stake in shares of New Relic by 18.0% in the 1st quarter. Private Ocean LLC now owns 1,050 shares of the software maker’s stock worth $70,000 after buying an additional 160 shares in the last quarter. 88.24% of the stock is currently owned by hedge funds and other institutional investors.

NEWR has been the subject of several research reports. Truist Financial decreased their target price on New Relic from $110.00 to $95.00 in a research report on Tuesday, May 10th. Cowen decreased their target price on New Relic from $80.00 to $65.00 in a research report on Friday, May 13th. Needham & Company LLC lowered New Relic from a “buy” rating to a “hold” rating in a research report on Friday, May 13th. Robert W. Baird reduced their price objective on New Relic from $117.00 to $75.00 and set a “na” rating for the company in a research report on Friday, May 13th. Finally, Royal Bank of Canada reduced their price objective on New Relic from $90.00 to $45.00 in a research report on Friday, May 13th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, New Relic has an average rating of “Hold” and an average target price of $88.09.

About New Relic (Get Rating)

New Relic, Inc, a software-as-a-service company, delivers a software platform for customers to collect telemetry data and derive insights from that data in a unified front-end application. It offers a suite of products on its open and extensible cloud-based platform, which enables users to collect, store, and analyze telemetry data.

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