New Relic, Inc. (NYSE:NEWR – Get Rating) Chairman Lewis Cirne sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, May 20th. The stock was sold at an average price of $46.48, for a total value of $92,960.00. Following the completion of the sale, the chairman now directly owns 5,463,151 shares of the company’s stock, valued at approximately $253,927,258.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Lewis Cirne also recently made the following trade(s):
- 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 transaction of $1,731,300.00.
- On Wednesday, April 6th, Lewis Cirne sold 30,000 shares of New Relic stock. The shares were sold at an average price of $66.12, for a total transaction of $1,983,600.00.
NEWR stock traded up $1.51 during midday trading on Monday, hitting $48.13. The stock had a trading volume of 1,188,796 shares, compared to its average volume of 1,151,000. The business has a 50-day moving average of $62.65 and a two-hundred day moving average of $84.45. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.15 and a quick ratio of 2.49. The firm has a market cap of $3.22 billion, a price-to-earnings ratio of -12.02 and a beta of 0.99. New Relic, Inc. has a 52-week low of $41.66 and a 52-week high of $129.70.
Several analysts have issued reports on the stock. Robert W. Baird cut their price target on shares of New Relic from $117.00 to $75.00 and set a “na” rating for the company in a research report on Friday, May 13th. Needham & Company LLC cut New Relic from a “buy” rating to a “hold” rating in a research note on Friday, May 13th. Truist Financial reduced their price target on New Relic from $110.00 to $95.00 in a report on Tuesday, May 10th. Royal Bank of Canada cut their price objective on New Relic from $90.00 to $45.00 in a research report on Friday, May 13th. Finally, Cowen reduced their target price on New Relic from $80.00 to $65.00 in a research note on Friday, May 13th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $88.09.
About New Relic (Get Rating)
New Relic, Inc, a software-as-a-service company, provides platform for engineers to plan, build, deploy, and operate software worldwide. It offers a suite of products on its open and extensible cloud-based platform, New Relic One Platform, which enables users to collect, store, and analyze telemetry data flowing through and about their software.
- Get a free copy of the StockNews.com research report on New Relic (NEWR)
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