Insider Selling: Newegg Commerce (NASDAQ:NEGG) Director Sells $473,200.00 in Stock

Newegg Commerce, Inc. (NASDAQ:NEGG) Director Fred Faching Chang sold 20,000 shares of the business’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $23.66, for a total transaction of $473,200.00. Following the sale, the director directly owned 3,326,646 shares in the company, valued at approximately $78,708,444.36. The trade was a 0.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Fred Faching Chang also recently made the following trade(s):

• On Monday, May 18th, Fred Faching Chang sold 20,000 shares of Newegg Commerce stock. The stock was sold at an average price of $19.66, for a total transaction of $393,200.00.
• On Thursday, May 14th, Fred Faching Chang sold 20,000 shares of Newegg Commerce stock. The stock was sold at an average price of $22.52, for a total transaction of $450,400.00.
• On Monday, May 11th, Fred Faching Chang sold 6,944 shares of Newegg Commerce stock. The stock was sold at an average price of $25.41, for a total transaction of $176,447.04.
• On Friday, May 8th, Fred Faching Chang sold 20,000 shares of Newegg Commerce stock. The stock was sold at an average price of $26.25, for a total transaction of $525,000.00.
• On Thursday, May 7th, Fred Faching Chang sold 6,483 shares of Newegg Commerce stock. The stock was sold at an average price of $30.25, for a total transaction of $196,110.75.
• On Wednesday, May 6th, Fred Faching Chang sold 703 shares of Newegg Commerce stock. The stock was sold at an average price of $32.29, for a total transaction of $22,699.87.
• On Tuesday, May 5th, Fred Faching Chang sold 3,657 shares of Newegg Commerce stock. The stock was sold at an average price of $30.10, for a total transaction of $110,075.70.
• On Monday, May 4th, Fred Faching Chang sold 15,000 shares of Newegg Commerce stock. The stock was sold at an average price of $31.88, for a total transaction of $478,200.00.
• On Friday, May 1st, Fred Faching Chang sold 15,000 shares of Newegg Commerce stock. The stock was sold at an average price of $33.94, for a total transaction of $509,100.00.
• On Thursday, April 30th, Fred Faching Chang sold 20,000 shares of Newegg Commerce stock. The stock was sold at an average price of $34.53, for a total transaction of $690,600.00.

Newegg Commerce Trading Up 0.3%

NASDAQ NEGG opened at $20.27 on Friday. The firm’s fifty day moving average price is $35.06 and its two-hundred day moving average price is $50.32. Newegg Commerce, Inc. has a fifty-two week low of $4.70 and a fifty-two week high of $137.84. The company has a quick ratio of 0.76, a current ratio of 1.41 and a debt-to-equity ratio of 0.27.

Newegg Commerce (NASDAQ:NEGG) last posted its earnings results on Tuesday, April 28th. The company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.38. The company had revenue of $374.40 million for the quarter, compared to the consensus estimate of $439.20 million.

Hedge Funds Weigh In On Newegg Commerce

A number of hedge funds have recently modified their holdings of the business. Marshall Wace LLP acquired a new position in shares of Newegg Commerce during the second quarter worth $4,281,000. UBS Group AG boosted its holdings in Newegg Commerce by 242.0% in the third quarter. UBS Group AG now owns 75,482 shares of the company’s stock valued at $3,166,000 after acquiring an additional 53,411 shares during the last quarter. Hussman Strategic Advisors Inc. bought a new stake in Newegg Commerce in the third quarter valued at approximately $1,762,000. Jane Street Group LLC bought a new stake in Newegg Commerce in the fourth quarter valued at approximately $2,042,000. Finally, BNP Paribas Financial Markets bought a new stake in Newegg Commerce in the third quarter valued at approximately $1,603,000. Institutional investors and hedge funds own 0.45% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded shares of Newegg Commerce from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company has an average rating of “Sell”.

About Newegg Commerce

Newegg Commerce, Inc (NASDAQ: NEGG) is a leading online retailer and marketplace specializing in technology products, consumer electronics and computer hardware. Founded in 2001 and headquartered in City of Industry, California, the company operates the flagship Newegg.com platform, which offers an extensive selection of desktops, laptops, components, peripherals, software and related accessories. Newegg’s business model combines direct retail sales with a third-party marketplace, enabling both established brands and independent sellers to reach a technology-focused audience.

In addition to its core e-commerce offerings, Newegg provides a range of value-added services, including logistics support, warehousing and fulfillment solutions designed to streamline order processing for marketplace partners.