GigaCloud Technology Inc. (NASDAQ:GCT) Shares Sold by MML Investors Services LLC

MML Investors Services LLC reduced its position in GigaCloud Technology Inc. (NASDAQ:GCT) by 50.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,166 shares of the company’s stock after selling 16,462 shares during the period. MML Investors Services LLC’s holdings in GigaCloud Technology were worth $371,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in GCT. Amalgamated Bank purchased a new stake in GigaCloud Technology during the 2nd quarter worth approximately $25,000. Townsquare Capital LLC raised its stake in GigaCloud Technology by 4.6% in the 3rd quarter. Townsquare Capital LLC now owns 19,440 shares of the company’s stock valued at $447,000 after purchasing an additional 862 shares during the last quarter. MFA Wealth Advisors LLC purchased a new position in GigaCloud Technology in the 3rd quarter valued at $26,000. New York State Teachers Retirement System purchased a new stake in shares of GigaCloud Technology during the third quarter worth $49,000. Finally, Benjamin F. Edwards & Company Inc. acquired a new stake in shares of GigaCloud Technology in the second quarter valued at about $66,000. 34.94% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at GigaCloud Technology

In related news, major shareholder Frank Hurst Lin sold 2,663,076 shares of the business’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $21.80, for a total value of $58,055,056.80. Following the sale, the insider now owns 1,406,813 shares in the company, valued at approximately $30,668,523.40. The trade was a 65.43 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Xin Wan sold 80,000 shares of the firm’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $22.14, for a total value of $1,771,200.00. Following the transaction, the chief technology officer now owns 867,540 shares of the company’s stock, valued at $19,207,335.60. This trade represents a 8.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,811,979 shares of company stock worth $61,233,745 in the last ninety days. 43.00% of the stock is owned by insiders.

GigaCloud Technology Trading Down 0.7 %

GCT opened at $18.05 on Wednesday. GigaCloud Technology Inc. has a twelve month low of $15.18 and a twelve month high of $45.18. The firm has a market capitalization of $739.54 million, a PE ratio of 5.71 and a beta of 1.74. The firm’s 50-day moving average price is $23.21 and its 200 day moving average price is $24.59.

About GigaCloud Technology

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.