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

GigaCloud Technology Inc. (NASDAQ:GCT) insider Marshall Bernes bought 5,000 shares of the firm’s stock in a transaction on Friday, December 27th. The shares were bought at an average price of $17.50 per share, with a total value of $87,500.00. Following the completion of the purchase, the insider now owns 45,000 shares in the company, valued at approximately $787,500. The trade was a 12.50 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

GigaCloud Technology Price Performance

Shares of GCT opened at $19.06 on Friday. GigaCloud Technology Inc. has a one year low of $15.61 and a one year high of $45.18. The firm has a market capitalization of $780.93 million, a P/E ratio of 6.03 and a beta of 1.74. The business has a fifty day moving average of $22.07 and a 200 day moving average of $23.93.

Institutional Trading of GigaCloud Technology

Large investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. lifted its holdings in GigaCloud Technology by 446.1% during the third quarter. JPMorgan Chase & Co. now owns 100,686 shares of the company’s stock valued at $2,314,000 after purchasing an additional 82,250 shares in the last quarter. Principal Financial Group Inc. purchased a new position in shares of GigaCloud Technology during the 3rd quarter valued at $1,442,000. Franklin Resources Inc. boosted its holdings in GigaCloud Technology by 49.5% in the 3rd quarter. Franklin Resources Inc. now owns 409,829 shares of the company’s stock worth $10,164,000 after buying an additional 135,726 shares during the period. Invst LLC increased its stake in 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 buying an additional 6,081 shares in the last quarter. Finally, Second Line Capital LLC raised its holdings in GigaCloud Technology by 17.2% during the third quarter. Second Line Capital LLC now owns 102,480 shares of the company’s stock valued at $2,355,000 after acquiring an additional 15,028 shares during the period. 34.94% of the stock is currently owned by institutional investors.

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.