Continued Level of Significant Insider Selling at New Relic (NEWR)

Tuesday, November 07, 2017 10:15 PM ET

Continued Level of Significant Insider Selling at New Relic (NEWR)

A filing with the SEC today indicated a notable insider sale of New Relic shares as — Lewis Cirne, 10% Owner, Director and Officer — disposed of 33,000 shares in the company having a market value of approximately $1,687,839. There have been 4 insiders with buy/sell transactions in the past 90 days prior to this filing. All of these trades have been sales resulting in the disposition of 100,904 company shares. Adding the most recent activity to this 90-day history indicates insider trades have seen net sales of 133,904 shares and have averaged 26,781 shares per transaction over this time period.

Over the last 90 days, the number of insider buy/sell trades at New Relic is above the 31-company peer group average. Application Software peer group saw 103 buy/sell trades during this period for an average of 3.3 transactions per company. The number of shares per buy/sell trade for New Relic insiders was also higher. Within the peer group there were 3,424 shares purchased and 1,957,709 shares sold with company insiders having sold 18,974 shares on average.

The data used in evaluating and writing in this story eliminates all trading activity reported to the SEC that involves awards, options, exercise of derivative securities, company buy-backs, taxes, gifts, shares acquired via inheritance and tenders or exchange offers.

Using proprietary Natural Language Generation (NLG) technology, UpTick evaluates corporate insider filings reported to the SEC and creates real-time news and analysis to report the most significant insider transactions based on transaction type, size and historical trends.

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