December 4, 2021

Notable New Relic Insider Trades $3.9M In Company Stock

2 min read
Spread the love

Lewis Cirne, Director at New Relic (NYSE:NEWR), made a large buy and sell of company shares on October 1, according to a new SEC filing.

What Happened: A Form 4 filing from the U.S. Securities and Exchange Commission states that Lewis Cirne exercised options to purchase 30,000 New Relic shares at a price of $16.93 per share for a total of $507,900 on October 1. They then sold their shares on succeeding transactions in the open market. They sold at prices ranging from ($0.00) to $73.05 to raise a total of $3,372,993 from the stock sale.

Cirne still owns a total of 274,000 shares of New Relic worth, $19,637,580.

New Relic shares are trading up 1.54% at $71.67 at the time of this writing on Tuesday morning.

Now trade stocks online commission free with Charles Schwab, a trusted and complete investment firm.

The Importance of Insider Transactions

Insider transactions shouldn’t be used primarily to make an investing decision, however an insider transaction can be an important factor in the investing decision.

In legal terms, an “insider” refers to any shareholder who owns at least 10% of a company. This can include executives in the c-suite and large hedge funds. These insiders are required to let the public know of their transactions via a Form 4 filing, which must be filed within two business days of the transaction.

When a company insider makes a new purchase, that is an indication that they expect the stock to rise.

Insider sells, on the other hand, can be made for a variety of reasons, and may not necessarily mean that the seller thinks the stock will go down.

See also  Digital World Acquisition Corp., the SPAC buying Trump Media, jumps again

Important Transaction Codes

Investors prefer focusing on transactions that take place in the open market, indicated in Table I of the Form 4 filing. A P in Box 3 indicates a purchase, while S indicates a sale. Transaction code C indicates the conversion of an option, and transaction code A indicates the insider may have been forced to sell shares in order to receive compensation that had been promised upon being hired by the company.

Check Out The Full List Of New Relic’s Insider Trades.

See more from Benzinga

© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Leave a Reply

Your email address will not be published. Required fields are marked *

CommentLuv badge
2021 Copyright © All rights reserved. | Newsphere by AF themes.
Subscribe
SUBSCRIBE NOW

Join Our Newsletter Today On The Writers Cookbook

Stay updated with all latest updates,upcoming events & much more.
close-link
x
//benoopto.com/4/4630612