GigaCloud Technology Inc. (NASDAQ:GCT) Shares Sold by Legacy Bridge LLC

Legacy Bridge LLC reduced its holdings in shares of GigaCloud Technology Inc. (NASDAQ:GCT) by 5.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,095 shares of the company’s stock after selling 725 shares during the period. Legacy Bridge LLC’s holdings in GigaCloud Technology were worth $243,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Amalgamated Bank purchased a new stake in GigaCloud Technology during the 2nd quarter valued at about $25,000. MFA Wealth Advisors LLC acquired a new position in GigaCloud Technology in the 3rd quarter worth approximately $26,000. New York State Teachers Retirement System purchased a new position in GigaCloud Technology during the 3rd quarter worth approximately $49,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in GigaCloud Technology during the 3rd quarter valued at approximately $51,000. Finally, Quarry LP boosted its holdings in shares of GigaCloud Technology by 519.8% in the 3rd quarter. Quarry LP now owns 3,663 shares of the company’s stock valued at $84,000 after acquiring an additional 3,072 shares during the last quarter. 34.94% of the stock is currently owned by hedge funds and other institutional investors.

GigaCloud Technology Price Performance

Shares of GigaCloud Technology stock opened at $19.91 on Tuesday. GigaCloud Technology Inc. has a 1 year low of $15.61 and a 1 year high of $45.18. The stock has a market cap of $815.71 million, a PE ratio of 6.30 and a beta of 1.92. The firm has a fifty day moving average price of $20.96 and a 200 day moving average price of $22.64.

Insider Buying and Selling at GigaCloud Technology

In other news, CTO Xin Wan sold 80,000 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $22.14, for a total value of $1,771,200.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, 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 value of $58,055,056.80. Following the transaction, the insider now directly owns 1,406,813 shares of the company’s stock, valued at approximately $30,668,523.40. The trade was a 65.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,811,979 shares of company stock worth $61,233,745. Insiders own 43.00% 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.