Newegg Commerce, Inc. (NASDAQ:NEGG) Major Shareholder Vladimir Galkin Acquires 64,199 Shares of Stock

Newegg Commerce, Inc. (NASDAQ:NEGG) major shareholder Vladimir Galkin purchased 64,199 shares of Newegg Commerce stock in a transaction dated Tuesday, July 8th. The stock was bought at an average cost of $18.10 per share, with a total value of $1,162,001.90. Following the completion of the transaction, the insider directly owned 2,164,302 shares of the company’s stock, valued at $39,173,866.20. This represents a 3.06% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Vladimir Galkin also recently made the following trade(s):

• On Wednesday, July 9th, Vladimir Galkin purchased 57,920 shares of Newegg Commerce stock. The stock was bought at an average cost of $21.77 per share, with a total value of $1,260,918.40.

Newegg Commerce Price Performance

NASDAQ NEGG opened at $36.22 on Tuesday. The company has a 50 day simple moving average of $10.74 and a 200-day simple moving average of $8.30. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.16 and a quick ratio of 0.76. Newegg Commerce, Inc. has a 52-week low of $3.32 and a 52-week high of $56.00.

Hedge Funds Weigh In On Newegg Commerce

A number of hedge funds have recently added to or reduced their stakes in NEGG. Renaissance Technologies LLC increased its holdings in Newegg Commerce by 69.1% in the fourth quarter. Renaissance Technologies LLC now owns 85,422 shares of the company’s stock worth $34,000 after buying an additional 34,900 shares during the last quarter. Jane Street Group LLC acquired a new position in Newegg Commerce in the fourth quarter worth approximately $44,000. Squarepoint Ops LLC acquired a new position in Newegg Commerce in the fourth quarter worth approximately $69,000. Finally, XTX Topco Ltd acquired a new position in Newegg Commerce in the first quarter worth approximately $55,000. Institutional investors and hedge funds own 0.45% of the company’s stock.

About Newegg Commerce

Newegg Commerce, Inc operates as an electronics-focused e-retailer in North America. The company offers desktops, laptops, gaming laptops, peripherals, and accessories; CPU/processors, graphic cards, motherboards, storage devices, and computer accessories; home video and audio, headphones, pro audio/video, cellphones, wearables, and digital cameras; display and printing, office technology furniture, office supplies, and mailing and inventory supplies; and software, digital downloads, warranty and services, 3rd party gift cards, and entertainment products.