Janney Montgomery Scott LLC Purchases New Stake in GigaCloud Technology Inc. (NASDAQ:GCT)

Janney Montgomery Scott LLC purchased a new stake in GigaCloud Technology Inc. (NASDAQ:GCT) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 11,652 shares of the company’s stock, valued at approximately $216,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. MFA Wealth Advisors LLC acquired a new stake in shares of GigaCloud Technology in the third quarter valued at approximately $26,000. New York State Teachers Retirement System acquired a new stake in shares of GigaCloud Technology in the third quarter valued at approximately $49,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of GigaCloud Technology in the third quarter valued at approximately $51,000. Quarry LP increased its holdings in shares of GigaCloud Technology by 519.8% in the third quarter. Quarry LP now owns 3,663 shares of the company’s stock valued at $84,000 after purchasing an additional 3,072 shares during the last quarter. Finally, Banque Cantonale Vaudoise increased its holdings in shares of GigaCloud Technology by 345.6% in the third quarter. Banque Cantonale Vaudoise now owns 7,286 shares of the company’s stock valued at $167,000 after purchasing an additional 5,651 shares during the last quarter. Institutional investors and hedge funds own 34.94% of the company’s stock.

Insider Buying and Selling

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

GigaCloud Technology Stock Performance

NASDAQ:GCT opened at $20.07 on Thursday. GigaCloud Technology Inc. has a one year low of $15.61 and a one year high of $45.18. The stock has a market cap of $822.27 million, a PE ratio of 6.35 and a beta of 1.94. The stock has a 50 day moving average price of $20.07 and a 200 day moving average price of $21.92.

GigaCloud Technology 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.