Newegg Commerce (NASDAQ:NEGG) Director Fred Faching Chang Sells 20,000 Shares of Stock

Newegg Commerce, Inc. (NASDAQ:NEGG) Director Fred Faching Chang sold 20,000 shares of the stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $19.66, for a total transaction of $393,200.00. Following the completion of the transaction, the director directly owned 3,246,646 shares of the company’s stock, valued at approximately $63,829,060.36. The trade was a 0.61% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Fred Faching Chang also recently made the following trade(s):

• On Thursday, May 14th, Fred Faching Chang sold 20,000 shares of Newegg Commerce stock. The shares were 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 shares were 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 shares were 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 shares were 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 transaction of $196,110.75.
• On Wednesday, May 6th, Fred Faching Chang sold 703 shares of Newegg Commerce stock. The shares were sold at an average price of $32.29, for a total transaction of $22,699.87.
• 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 transaction 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 transaction 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 transaction 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 transaction of $690,600.00.

Newegg Commerce Stock Performance

Shares of Newegg Commerce stock opened at $20.57 on Thursday. Newegg Commerce, Inc. has a twelve month low of $4.70 and a twelve month high of $137.84. The company’s fifty day moving average is $36.05 and its 200 day moving average is $50.98. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.41 and a quick ratio of 0.76.

Newegg Commerce (NASDAQ:NEGG) last posted its quarterly earnings data 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 company had revenue of $374.40 million during the quarter, compared to analyst estimates of $439.20 million.

Institutional Investors Weigh In On Newegg Commerce

Several large investors have recently modified their holdings of NEGG. Marshall Wace LLP acquired a new stake in shares of Newegg Commerce during the second quarter worth $4,281,000. Bank of America Corp DE increased its position in shares of Newegg Commerce by 10,675.0% during the second quarter. Bank of America Corp DE now owns 10,775 shares of the company’s stock worth $175,000 after buying an additional 10,675 shares during the period. Ritholtz Wealth Management acquired a new stake in shares of Newegg Commerce during the third quarter worth $243,000. Hussman Strategic Advisors Inc. acquired a new stake in shares of Newegg Commerce during the third quarter worth $1,762,000. Finally, Quantum Private Wealth LLC acquired a new stake in shares of Newegg Commerce during the third quarter worth $210,000. 0.45% of the stock is currently owned by institutional investors and hedge funds.

More Newegg Commerce News

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

• Negative Sentiment: Director Fred Faching Chang disclosed several share sales between May 4 and May 18, totaling tens of thousands of shares sold at prices ranging from about $19.66 to $32.29, which can pressure sentiment and raise concerns about insider confidence. SEC filing
• Neutral Sentiment: Despite the sales, Chang still owns more than 3.2 million shares of Newegg, so the insider continues to maintain a very large stake in the company. SEC filing

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded Newegg Commerce from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Newegg Commerce has an average 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.