Insider Selling: Newegg Commerce (NASDAQ:NEGG) Director Sells $176,447.04 in Stock

Newegg Commerce, Inc. (NASDAQ:NEGG) Director Fred Faching Chang sold 6,944 shares of the business’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $25.41, for a total value of $176,447.04. Following the sale, the director directly owned 3,346,646 shares of the company’s stock, valued at $85,038,274.86. This represents a 0.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

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 shares were 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 Tuesday, May 12th, Fred Faching Chang sold 20,000 shares of Newegg Commerce stock. The shares were sold at an average price of $23.66, for a total transaction of $473,200.00.
• On Friday, May 8th, Fred Faching Chang sold 20,000 shares of Newegg Commerce stock. The shares were 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 shares were 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 shares were sold at an average price of $30.10, for a total value 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 value of $478,200.00.
• On Friday, May 1st, Fred Faching Chang sold 15,000 shares of Newegg Commerce stock. The shares were sold at an average price of $33.94, for a total value of $509,100.00.
• On Thursday, April 30th, Fred Faching Chang sold 20,000 shares of Newegg Commerce stock. The shares were sold at an average price of $34.53, for a total value of $690,600.00.

Newegg Commerce Trading Up 0.3%

Shares of NEGG opened at $20.27 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.76 and a current ratio of 1.41. Newegg Commerce, Inc. has a 1 year low of $4.70 and a 1 year high of $137.84. The stock’s 50-day moving average price is $35.06 and its two-hundred day moving average price is $50.32.

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

Institutional Trading of Newegg Commerce

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada boosted its holdings in shares of Newegg Commerce by 5,472.2% in the 4th quarter. Royal Bank of Canada now owns 1,003 shares of the company’s stock valued at $51,000 after buying an additional 985 shares in the last quarter. Squarepoint Ops LLC purchased a new stake in Newegg Commerce in the fourth quarter valued at $251,000. Jane Street Group LLC purchased a new stake in Newegg Commerce in the fourth quarter valued at $2,042,000. O Shaughnessy Asset Management LLC boosted its stake in Newegg Commerce by 234.7% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 29,342 shares of the company’s stock valued at $1,489,000 after acquiring an additional 20,575 shares in the last quarter. Finally, Goldman Sachs Group Inc. purchased a new position in shares of Newegg Commerce during the fourth quarter worth about $490,000. Institutional investors and hedge funds own 0.45% of the company’s stock.

Analysts Set New Price Targets

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