Newegg Commerce (NASDAQ:NEGG) Shares Gap Up After Insider Buying Activity

Newegg Commerce, Inc. (NASDAQ:NEGG)’s share price gapped up before the market opened on Friday following insider buying activity. The stock had previously closed at $31.79, but opened at $33.70. Newegg Commerce shares last traded at $33.80, with a volume of 274,963 shares traded.

Specifically, major shareholder Vladimir Galkin bought 111,111 shares of the company’s stock in a transaction on Thursday, July 17th. The shares were bought at an average price of $29.41 per share, for a total transaction of $3,267,774.51. Following the transaction, the insider owned 2,777,777 shares of the company’s stock, valued at approximately $81,694,421.57. This trade represents a 4.17% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Vladimir Galkin bought 111,111 shares of the company’s stock in a transaction on Tuesday, July 15th. The shares were acquired at an average price of $29.56 per share, for a total transaction of $3,284,441.16. Following the transaction, the insider directly owned 2,555,555 shares in the company, valued at $75,542,205.80. This trade represents a 4.55% increase in their position. The disclosure for this purchase can be found here. In other news, major shareholder Vladimir Galkin purchased 222,222 shares of the stock in a transaction that occurred on Monday, July 14th. The shares were acquired at an average price of $41.14 per share, for a total transaction of $9,142,213.08. Following the acquisition, the insider directly owned 2,444,444 shares in the company, valued at approximately $100,564,426.16. The trade was a 10.00% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Newegg Commerce Price Performance

The company has a current ratio of 1.16, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50. The business has a fifty day moving average price of $13.44 and a 200 day moving average price of $9.06.

Hedge Funds Weigh In On Newegg Commerce

Large investors have recently modified their holdings of the stock. XTX Topco Ltd acquired a new position in shares of Newegg Commerce during the first quarter valued at approximately $55,000. Squarepoint Ops LLC acquired a new position in shares of Newegg Commerce during the fourth quarter valued at approximately $69,000. Jane Street Group LLC acquired a new position in shares of Newegg Commerce during the fourth quarter valued at approximately $44,000. Finally, Renaissance Technologies LLC increased its stake in shares of Newegg Commerce by 69.1% during the fourth quarter. Renaissance Technologies LLC now owns 85,422 shares of the company’s stock valued at $34,000 after acquiring an additional 34,900 shares during the period. Institutional investors own 0.45% of the company’s stock.

Newegg Commerce Company Profile

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.