GigaCloud Technology Inc. (NASDAQ:GCT) Insider Purchases $87,500.00 in Stock

GigaCloud Technology Inc. (NASDAQ:GCT) insider Marshall Bernes acquired 5,000 shares of GigaCloud Technology stock in a transaction dated Friday, December 27th. The shares were acquired at an average cost of $17.50 per share, with a total value of $87,500.00. Following the completion of the acquisition, the insider now directly owns 45,000 shares in the company, valued at $787,500. This trade represents a 12.50 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link.

GigaCloud Technology Stock Up 7.9 %

NASDAQ:GCT opened at $18.52 on Thursday. The firm has a market capitalization of $758.80 million, a PE ratio of 5.86 and a beta of 1.74. GigaCloud Technology Inc. has a 12-month low of $15.61 and a 12-month high of $45.18. The firm has a 50-day moving average price of $22.20 and a 200 day moving average price of $23.97.

Hedge Funds Weigh In On GigaCloud Technology

A number of hedge funds have recently modified their holdings of GCT. JPMorgan Chase & Co. boosted its stake in GigaCloud Technology by 446.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 100,686 shares of the company’s stock valued at $2,314,000 after buying an additional 82,250 shares in the last quarter. Principal Financial Group Inc. bought a new position in shares of GigaCloud Technology during the third quarter valued at $1,442,000. Franklin Resources Inc. boosted its stake in shares of GigaCloud Technology by 49.5% in the 3rd quarter. Franklin Resources Inc. now owns 409,829 shares of the company’s stock valued at $10,164,000 after purchasing an additional 135,726 shares in the last quarter. Invst LLC grew its holdings in shares of GigaCloud Technology by 54.3% in the 3rd quarter. Invst LLC now owns 17,289 shares of the company’s stock worth $397,000 after purchasing an additional 6,081 shares during the last quarter. Finally, Second Line Capital LLC increased its position in shares of GigaCloud Technology by 17.2% during the 3rd quarter. Second Line Capital LLC now owns 102,480 shares of the company’s stock worth $2,355,000 after purchasing an additional 15,028 shares in the last quarter. 34.94% of the stock is owned by institutional investors and hedge funds.

GigaCloud Technology Company Profile

GigaCloud Technology Inc provides end-to-end B2B ecommerce solutions for large parcel merchandise in the United States and internationally. The company offers GigaCloud Marketplace integrates product discovery to payments to logistics tools into one easy-to-use platform. Its marketplace connects manufacturers primarily in Asia with resellers in the United States, Asia, and Europe to execute cross-border transactions across furniture, home appliance, fitness equipment, and other large parcel categories.