Insider Selling: Newegg Commerce (NASDAQ:NEGG) Director Sells 703 Shares of Stock

Key Points

• Newegg Commerce director Fred Faching Chang sold 703 shares on May 6 at an average price of $32.29, worth about $22,700. After the sale, he still held more than 3.38 million shares.
• Chang has been actively selling shares throughout early May, with several additional transactions totaling tens of thousands of shares at prices ranging from about $19.66 to $34.53. The repeated sales may pressure investor sentiment.
• Newegg’s latest earnings were mixed: the company beat EPS expectations with a loss of $0.02 per share, but revenue of $374.4 million fell short of estimates. The stock also traded well below its 50-day and 200-day moving averages.

Newegg Commerce, Inc. (NASDAQ:NEGG - Get Free Report) Director Fred Faching Chang sold 703 shares of the firm's stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $32.29, for a total transaction of $22,699.87. Following the completion of the transaction, the director directly owned 3,380,073 shares in the company, valued at $109,142,557.17. This represents a 0.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through 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 Tuesday, May 12th, Fred Faching Chang sold 20,000 shares of Newegg Commerce stock. The stock was sold at an average price of $23.66, for a total transaction of $473,200.00.
• 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 shares were sold at an average price of $30.25, for a total value of $196,110.75.
• 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 shares were 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 Stock Performance

Shares of NEGG traded up $1.07 during mid-day trading on Wednesday, reaching $20.57. 131,778 shares of the company's stock traded hands, compared to its average volume of 76,664. The business's 50-day moving average price is $36.49 and its 200-day moving average price is $51.41. 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 12 month low of $4.70 and a 12 month high of $137.84.

Newegg Commerce (NASDAQ:NEGG - Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The company reported ($0.02) earnings per share for the quarter, beating analysts' consensus estimates of ($0.40) by $0.38. The business had revenue of $374.40 million for the quarter, compared to the consensus estimate of $439.20 million.

Trending Headlines about Newegg Commerce

Here are the key news stories impacting Newegg Commerce this week:

• Neutral Sentiment: Newegg Commerce reported a smaller-than-expected revenue figure in its latest quarterly results, even though it beat EPS estimates, leaving mixed signals for traders.
• Negative Sentiment: Director Fred Faching Chang disclosed several stock sales in early May, including a combined reduction of tens of thousands of shares, which may weigh on investor sentiment. SEC filing
• Negative Sentiment: The most recent filing showed Chang sold 20,000 shares at $19.66, adding to the perception of ongoing insider distribution. SEC filing

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Royal Bank of Canada grew its position in Newegg Commerce by 5,472.2% in the fourth quarter. Royal Bank of Canada now owns 1,003 shares of the company's stock worth $51,000 after buying an additional 985 shares during the last quarter. Squarepoint Ops LLC acquired a new position in Newegg Commerce in the fourth quarter worth approximately $251,000. Jane Street Group LLC acquired a new position in Newegg Commerce in the fourth quarter worth approximately $2,042,000. O Shaughnessy Asset Management LLC grew its position 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 worth $1,489,000 after buying an additional 20,575 shares during the last quarter. Finally, Goldman Sachs Group Inc. acquired a new position in Newegg Commerce in the fourth quarter worth approximately $490,000. Institutional investors and hedge funds own 0.45% of the company's stock.

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.

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