GigaCloud Technology Inc. (NASDAQ:GCT) Shares Purchased by Janus Henderson Group PLC

Janus Henderson Group PLC grew its holdings in shares of GigaCloud Technology Inc. (NASDAQ:GCT) by 94.2% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 26,283 shares of the company’s stock after purchasing an additional 12,751 shares during the period. Janus Henderson Group PLC’s holdings in GigaCloud Technology were worth $604,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in GCT. Harvest Fund Management Co. Ltd purchased a new stake in GigaCloud Technology during the 3rd quarter worth $6,956,000. Charles Schwab Investment Management Inc. boosted its position in shares of GigaCloud Technology by 279.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 214,569 shares of the company’s stock worth $4,931,000 after buying an additional 158,033 shares during the period. WT Asset Management Ltd acquired a new stake in shares of GigaCloud Technology in the third quarter valued at about $2,804,000. Aptus Capital Advisors LLC purchased a new stake in shares of GigaCloud Technology during the 2nd quarter valued at about $2,663,000. Finally, Second Line Capital LLC acquired a new position in GigaCloud Technology during the 2nd quarter worth approximately $2,660,000. Institutional investors and hedge funds own 34.94% of the company’s stock.

GigaCloud Technology Stock Down 0.1 %

Shares of NASDAQ:GCT opened at $20.69 on Friday. The company has a market capitalization of $847.71 million, a price-to-earnings ratio of 6.55 and a beta of 1.74. The company has a 50 day moving average of $23.97 and a two-hundred day moving average of $25.17. GigaCloud Technology Inc. has a 52-week low of $12.66 and a 52-week high of $45.18.

Insider Activity

In other GigaCloud Technology news, CTO Xin Wan sold 80,000 shares of GigaCloud Technology stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $22.14, for a total transaction of $1,771,200.00. Following the sale, the chief technology officer now directly owns 867,540 shares in the company, valued at $19,207,335.60. The trade was a 8.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Frank Hurst Lin sold 2,663,076 shares of the stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $21.80, for a total value of $58,055,056.80. Following the transaction, the insider now owns 1,406,813 shares of the company’s stock, valued at approximately $30,668,523.40. This trade represents a 65.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 43.00% of the company’s stock.

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.