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

GigaCloud Technology Inc. (NASDAQ:GCT) insider Marshall Bernes bought 5,000 shares of the stock in a transaction on Friday, December 27th. The stock was purchased 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 of the company’s stock, valued at approximately $787,500. This trade represents a 12.50 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

GigaCloud Technology Stock Performance

GCT stock opened at $18.52 on Wednesday. GigaCloud Technology Inc. has a fifty-two week low of $15.61 and a fifty-two week high of $45.18. The stock has a fifty day moving average of $22.33 and a 200-day moving average of $24.01. The company has a market capitalization of $758.80 million, a price-to-earnings ratio of 5.86 and a beta of 1.74.

Hedge Funds Weigh In On GigaCloud Technology

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp bought a new position in shares of GigaCloud Technology in the second quarter worth $2,000,000. Commonwealth Equity Services LLC boosted its stake in GigaCloud Technology by 133.1% in the 2nd quarter. Commonwealth Equity Services LLC now owns 42,370 shares of the company’s stock worth $1,289,000 after purchasing an additional 24,190 shares during the period. Aptus Capital Advisors LLC bought a new position in GigaCloud Technology in the 2nd quarter worth about $2,663,000. Rhumbline Advisers purchased a new position in GigaCloud Technology during the 2nd quarter valued at about $930,000. Finally, Legacy Bridge LLC bought a new stake in shares of GigaCloud Technology during the second quarter valued at about $647,000. 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.