Newegg Commerce, Inc. (NASDAQ:NEGG) Major Shareholder Vladimir Galkin Buys 138,757 Shares

Key Points

• Vladimir Galkin, a major shareholder of Newegg Commerce, acquired 138,757 shares at an average cost of $42.33 per share, totaling about $5.87 million, increasing his ownership stake by 4.34%.
• Newegg Commerce's stock price soared 43.8% during trading, reaching $56.19, with significant trading volume of 2,679,584 shares compared to the average of 397,728.
• Several institutional investors have recently expanded their stakes in Newegg Commerce, including Renaissance Technologies LLC increasing its holdings by 69.1% in the fourth quarter.

Newegg Commerce, Inc. (NASDAQ:NEGG - Get Free Report) major shareholder Vladimir Galkin bought 138,757 shares of the stock in a transaction that occurred on Tuesday, July 29th. The stock was bought at an average price of $42.33 per share, with a total value of $5,873,583.81. Following the completion of the acquisition, the insider owned 3,333,333 shares of the company's stock, valued at $141,099,985.89. This trade represents a 4.34% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own 10% or more of a company's stock are required to disclose their transactions with the SEC.

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

• On Thursday, July 17th, Vladimir Galkin purchased 416,799 shares of Newegg Commerce stock. The shares were bought at an average cost of $29.68 per share, for a total transaction of $12,370,594.32.
• On Thursday, July 17th, Vladimir Galkin purchased 111,111 shares of Newegg Commerce stock. The shares were purchased at an average cost of $29.41 per share, for a total transaction of $3,267,774.51.
• On Tuesday, July 15th, Vladimir Galkin bought 111,111 shares of Newegg Commerce stock. The shares were acquired at an average cost of $29.56 per share, for a total transaction of $3,284,441.16.
• On Monday, July 14th, Vladimir Galkin bought 222,222 shares of Newegg Commerce stock. The stock was bought at an average cost of $41.14 per share, with a total value of $9,142,213.08.
• On Wednesday, July 9th, Vladimir Galkin bought 57,920 shares of Newegg Commerce stock. The shares were acquired at an average cost of $21.77 per share, for a total transaction of $1,260,918.40.
• On Tuesday, July 8th, Vladimir Galkin acquired 64,199 shares of Newegg Commerce stock. The shares were bought at an average price of $18.10 per share, with a total value of $1,162,001.90.

Newegg Commerce Price Performance

Newegg Commerce stock traded down $10.26 during trading hours on Friday, hitting $53.53. 1,211,772 shares of the company traded hands, compared to its average volume of 1,247,685. Newegg Commerce, Inc. has a 1-year low of $3.32 and a 1-year high of $69.50. The firm's 50-day simple moving average is $20.46 and its two-hundred day simple moving average is $11.24. The company has a quick ratio of 0.76, a current ratio of 1.16 and a debt-to-equity ratio of 0.50.

Institutional Investors Weigh In On Newegg Commerce

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FNY Investment Advisers LLC purchased a new position in Newegg Commerce in the 2nd quarter worth about $64,000. Renaissance Technologies LLC lifted its position in shares of Newegg Commerce by 69.1% in the fourth quarter. Renaissance Technologies LLC now owns 85,422 shares of the company's stock worth $34,000 after purchasing an additional 34,900 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of Newegg Commerce during the fourth quarter worth approximately $44,000. Squarepoint Ops LLC purchased a new position in Newegg Commerce during the fourth quarter valued at approximately $69,000. Finally, XTX Topco Ltd acquired a new position in Newegg Commerce in the 1st quarter valued at approximately $55,000. 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.