JPMorgan Chase & Co. Increases Stake in GigaCloud Technology Inc. (NASDAQ:GCT)

JPMorgan Chase & Co. raised its stake in shares of GigaCloud Technology Inc. (NASDAQ:GCT) by 446.1% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 100,686 shares of the company’s stock after acquiring an additional 82,250 shares during the period. JPMorgan Chase & Co. owned approximately 0.25% of GigaCloud Technology worth $2,314,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of GCT. Amalgamated Bank bought a new position in shares of GigaCloud Technology in the 2nd quarter worth approximately $25,000. MFA Wealth Advisors LLC bought a new position in shares of GigaCloud Technology in the 3rd quarter worth approximately $26,000. New York State Teachers Retirement System bought a new position in shares of GigaCloud Technology in the 3rd quarter worth approximately $49,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of GigaCloud Technology in the 3rd quarter worth approximately $51,000. Finally, Benjamin F. Edwards & Company Inc. bought a new position in shares of GigaCloud Technology in the 2nd quarter worth approximately $66,000. Institutional investors own 34.94% of the company’s stock.

Insider Transactions at GigaCloud Technology

In other GigaCloud Technology news, CTO Xin Wan sold 80,000 shares of the stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $22.14, for a total transaction of $1,771,200.00. Following the completion of the sale, the chief technology officer now directly owns 867,540 shares of the company’s stock, valued at $19,207,335.60. This trade represents a 8.44 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Marshall Bernes acquired 5,000 shares of the business’s stock in a transaction on Friday, December 27th. The shares were bought at an average cost of $17.50 per share, with a total value of $87,500.00. Following the completion of the acquisition, the insider now owns 45,000 shares in the company, valued at approximately $787,500. This represents a 12.50 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 2,811,979 shares of company stock worth $61,233,745 in the last quarter. Company insiders own 43.00% of the company’s stock.

GigaCloud Technology Stock Up 4.0 %

Shares of NASDAQ:GCT opened at $20.62 on Wednesday. The firm’s 50 day moving average price is $21.01 and its 200-day moving average price is $22.94. GigaCloud Technology Inc. has a twelve month low of $15.61 and a twelve month high of $45.18. The stock has a market capitalization of $844.80 million, a PE ratio of 6.53 and a beta of 1.92.

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.