GigaCloud Technology Inc. (NASDAQ:GCT) Insider Marshall Bernes Purchases 5,000 Shares of Stock

GigaCloud Technology Inc. (NASDAQ:GCT) insider Marshall Bernes acquired 5,000 shares of the company’s stock in a transaction on Friday, December 27th. The shares were bought at an average price of $17.50 per share, for a total transaction 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. This represents a 12.50 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

GigaCloud Technology Price Performance

Shares of GCT stock opened at $17.17 on Tuesday. GigaCloud Technology Inc. has a one year low of $15.61 and a one year high of $45.18. The company has a market cap of $703.49 million, a P/E ratio of 5.43 and a beta of 1.74. The firm has a 50-day moving average of $22.49 and a 200-day moving average of $24.10.

Hedge Funds Weigh In On GigaCloud Technology

Hedge funds have recently modified their holdings of the company. Harvest Fund Management Co. Ltd bought a new stake in shares of GigaCloud Technology during the 3rd quarter worth $6,956,000. Geode Capital Management LLC increased its holdings in GigaCloud Technology by 90.7% during the third quarter. Geode Capital Management LLC now owns 577,108 shares of the company’s stock worth $13,265,000 after buying an additional 274,506 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in 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 acquiring an additional 158,033 shares during the period. Franklin Resources Inc. boosted its stake in GigaCloud Technology by 49.5% in the third quarter. Franklin Resources Inc. now owns 409,829 shares of the company’s stock valued at $10,164,000 after acquiring an additional 135,726 shares during the last quarter. Finally, WT Asset Management Ltd bought a new position in shares of GigaCloud Technology during the 3rd quarter valued at approximately $2,804,000. Institutional investors own 34.94% of the company’s stock.

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.