Insider Selling: Newegg Commerce (NASDAQ:NEGG) Director Sells 20,000 Shares of Stock

Newegg Commerce, Inc. (NASDAQ:NEGG) Director Fred Faching Chang sold 20,000 shares of the company’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $23.66, for a total value of $473,200.00. Following the completion of the transaction, the director directly owned 3,326,646 shares in the company, valued at $78,708,444.36. This trade represents a 0.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through 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 value 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 value 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 value 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 value 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 value 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 value 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 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 stock was 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 stock was sold at an average price of $34.53, for a total value of $690,600.00.

Newegg Commerce Stock Performance

Shares of NEGG traded up $1.07 during midday trading on Wednesday, reaching $20.57. 131,778 shares of the stock were exchanged, compared to its average volume of 76,664. Newegg Commerce, Inc. has a 52 week low of $4.70 and a 52 week high of $137.84. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.41 and a quick ratio of 0.76. The company’s 50 day moving average is $36.49 and its two-hundred day moving average is $51.41.

Newegg Commerce (NASDAQ:NEGG) last issued its quarterly earnings data 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 analysts’ expectations of $439.20 million.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of NEGG. NewEdge Advisors LLC purchased a new position in shares of Newegg Commerce in the third quarter worth about $30,000. Royal Bank of Canada boosted its position in Newegg Commerce by 5,472.2% in the 4th quarter. Royal Bank of Canada now owns 1,003 shares of the company’s stock worth $51,000 after purchasing an additional 985 shares in the last quarter. Bank of America Corp DE boosted its position in Newegg Commerce by 10,675.0% in the 2nd quarter. Bank of America Corp DE now owns 10,775 shares of the company’s stock worth $175,000 after purchasing an additional 10,675 shares in the last quarter. Qube Research & Technologies Ltd purchased a new stake in Newegg Commerce in the 3rd quarter worth approximately $207,000. Finally, Quantum Private Wealth LLC purchased a new stake in Newegg Commerce in the 3rd quarter worth approximately $210,000. 0.45% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded Newegg Commerce from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has a consensus rating of “Sell”.

Newegg Commerce Company Profile

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.