Insider Buying: Newegg Commerce, Inc. (NASDAQ:NEGG) Major Shareholder Acquires 111,111 Shares of Stock

Newegg Commerce, Inc. (NASDAQ:NEGG - Get Free Report) major shareholder Vladimir Galkin bought 111,111 shares of the stock in a transaction on Tuesday, July 15th. The shares were bought at an average cost of $29.56 per share, for a total transaction of $3,284,441.16. Following the purchase, the insider 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 purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Large shareholders that own more than 10% of a company's stock are required to disclose their transactions with the SEC.

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

• On Monday, July 14th, Vladimir Galkin bought 222,222 shares of Newegg Commerce stock. The shares were purchased at an average cost of $41.14 per share, for a total transaction of $9,142,213.08.
• On Wednesday, July 9th, Vladimir Galkin purchased 57,920 shares of Newegg Commerce stock. The stock was acquired at an average price of $21.77 per share, for a total transaction of $1,260,918.40.
• On Tuesday, July 8th, Vladimir Galkin purchased 64,199 shares of Newegg Commerce stock. The stock was acquired at an average price of $18.10 per share, for a total transaction of $1,162,001.90.

Newegg Commerce Trading Up 17.2%

NASDAQ NEGG traded up $4.67 on Thursday, hitting $31.79. 1,782,491 shares of the stock were exchanged, compared to its average volume of 206,135. Newegg Commerce, Inc. has a 52-week low of $3.32 and a 52-week high of $56.00. 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 company's 50-day moving average price is $12.93 and its two-hundred day moving average price is $8.91.

Hedge Funds Weigh In On Newegg Commerce

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Renaissance Technologies LLC grew its holdings 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 bought a new position in shares of Newegg Commerce during the 4th quarter worth about $44,000. XTX Topco Ltd bought a new position in shares of Newegg Commerce during the 1st quarter worth about $55,000. Finally, Squarepoint Ops LLC bought a new position in shares of Newegg Commerce during the 4th quarter worth about $69,000. 0.45% of the stock is currently owned by hedge funds and other institutional investors.

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.