PFG Investments LLC Increases Stake in GigaCloud Technology Inc. (NASDAQ:GCT)

PFG Investments LLC increased its holdings in GigaCloud Technology Inc. (NASDAQ:GCT) by 54.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,385 shares of the company’s stock after purchasing an additional 5,410 shares during the quarter. PFG Investments LLC’s holdings in GigaCloud Technology were worth $285,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. MFA Wealth Advisors LLC bought a new position in shares of GigaCloud Technology during the third quarter valued at about $26,000. New York State Teachers Retirement System bought a new position in GigaCloud Technology during the 3rd quarter worth approximately $49,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in GigaCloud Technology in the 3rd quarter worth approximately $51,000. Quarry LP lifted its position in GigaCloud Technology by 519.8% in the third quarter. Quarry LP now owns 3,663 shares of the company’s stock valued at $84,000 after purchasing an additional 3,072 shares during the last quarter. Finally, Banque Cantonale Vaudoise boosted its stake in shares of GigaCloud Technology by 345.6% during the third quarter. Banque Cantonale Vaudoise now owns 7,286 shares of the company’s stock valued at $167,000 after purchasing an additional 5,651 shares during the period. 34.94% of the stock is owned by institutional investors.

Insider Buying and Selling at GigaCloud Technology

In related news, major shareholder Frank Hurst Lin sold 2,663,076 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $21.80, for a total transaction of $58,055,056.80. Following the completion of the transaction, the insider now owns 1,406,813 shares in the company, valued at $30,668,523.40. This represents a 65.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Xin Wan sold 68,437 shares of GigaCloud Technology stock in a transaction on Monday, December 16th. The shares were sold at an average price of $20.43, for a total transaction of $1,398,167.91. Following the completion of the sale, the chief technology officer now owns 1,563 shares in the company, valued at approximately $31,932.09. This trade represents a 97.77 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,811,979 shares of company stock worth $61,233,745. 43.00% of the stock is currently owned by company insiders.

GigaCloud Technology Stock Performance

Shares of GigaCloud Technology stock opened at $21.32 on Friday. The company’s 50 day moving average price is $20.69 and its 200-day moving average price is $22.42. GigaCloud Technology Inc. has a 52-week low of $15.61 and a 52-week high of $45.18. The stock has a market capitalization of $873.52 million, a price-to-earnings ratio of 6.75 and a beta of 1.92.

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.