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

Newegg Commerce, Inc. (NASDAQ:NEGG - Get Free Report) 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 changing hands.

Specifically, major shareholder Vladimir Galkin bought 111,111 shares of the stock in a transaction that occurred on Thursday, July 17th. The shares were acquired at an average cost of $29.41 per share, for a total transaction of $3,267,774.51. Following the purchase, the insider owned 2,777,777 shares of the company's stock, valued at $81,694,421.57. This represents a 4.17% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Vladimir Galkin acquired 111,111 shares of Newegg Commerce stock in a transaction dated Tuesday, July 15th. The stock was acquired at an average cost of $29.56 per share, with a total value of $3,284,441.16. Following the completion of the transaction, the insider directly owned 2,555,555 shares of the company's stock, 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 Newegg Commerce news, major shareholder Vladimir Galkin acquired 222,222 shares of Newegg Commerce stock in a transaction dated Monday, July 14th. The stock was bought at an average cost of $41.14 per share, with a total value of $9,142,213.08. Following the completion of the transaction, the insider owned 2,444,444 shares of the company's stock, valued at $100,564,426.16. The trade was a 10.00% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Newegg Commerce Trading Down 8.3%

The company has a quick ratio of 0.76, a current ratio of 1.16 and a debt-to-equity ratio of 0.50. The firm's 50-day simple moving average is $13.44 and its 200-day simple moving average is $9.06.

Institutional Trading of Newegg Commerce

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Renaissance Technologies LLC boosted its position in shares of Newegg Commerce by 69.1% during the 4th 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 in the last quarter. Jane Street Group LLC acquired a new position in Newegg Commerce in the fourth quarter valued at about $44,000. Squarepoint Ops LLC acquired a new position in Newegg Commerce in the fourth quarter valued at about $69,000. Finally, XTX Topco Ltd acquired a new position in Newegg Commerce in the first quarter valued at about $55,000. 0.45% of the stock is currently owned by institutional investors and hedge funds.

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.