GigaCloud Technology Inc. (NASDAQ:GCT) Shares Bought by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. increased its holdings in shares of GigaCloud Technology Inc. (NASDAQ:GCT) by 279.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 214,569 shares of the company’s stock after buying an additional 158,033 shares during the period. Charles Schwab Investment Management Inc. owned about 0.52% of GigaCloud Technology worth $4,931,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Amalgamated Bank purchased a new stake in GigaCloud Technology in the 2nd quarter valued at $25,000. MFA Wealth Advisors LLC purchased a new position in shares of GigaCloud Technology in the 3rd quarter valued at about $26,000. New York State Teachers Retirement System purchased a new position in shares of GigaCloud Technology in the 3rd quarter valued at about $49,000. Benjamin F. Edwards & Company Inc. acquired a new stake in GigaCloud Technology in the 2nd quarter valued at about $66,000. Finally, Banque Cantonale Vaudoise grew its stake in GigaCloud Technology by 345.6% in the 3rd quarter. Banque Cantonale Vaudoise now owns 7,286 shares of the company’s stock valued at $167,000 after acquiring an additional 5,651 shares during the last quarter. 34.94% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CTO Xin Wan sold 80,000 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $22.14, for a total value of $1,771,200.00. Following the sale, the chief technology officer now directly owns 867,540 shares of the company’s stock, valued at approximately $19,207,335.60. This trade represents a 8.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Frank Hurst Lin sold 2,663,076 shares of the firm’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 sale, the insider now directly 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 disclosure for this sale can be found here. 43.00% of the stock is owned by corporate insiders.

GigaCloud Technology Trading Down 0.1 %

Shares of NASDAQ GCT opened at $20.69 on Friday. GigaCloud Technology Inc. has a 52 week low of $12.66 and a 52 week high of $45.18. The stock has a market cap of $847.67 million, a price-to-earnings ratio of 6.55 and a beta of 1.74. The company’s 50-day moving average price is $24.12 and its 200 day moving average price is $25.29.

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.