GigaCloud Technology Inc. (NASDAQ:GCT) Shares Bought by SG Americas Securities LLC

SG Americas Securities LLC lifted its holdings in shares of GigaCloud Technology Inc. (NASDAQ:GCT) by 36.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,680 shares of the company’s stock after purchasing an additional 3,632 shares during the quarter. SG Americas Securities LLC’s holdings in GigaCloud Technology were worth $253,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. JPMorgan Chase & Co. raised its holdings in shares of GigaCloud Technology by 446.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 100,686 shares of the company’s stock valued at $2,314,000 after buying an additional 82,250 shares during the period. Principal Financial Group Inc. bought a new stake in shares of GigaCloud Technology during the 3rd quarter valued at about $1,442,000. Franklin Resources Inc. lifted its holdings in shares of GigaCloud Technology by 49.5% in the 3rd quarter. Franklin Resources Inc. now owns 409,829 shares of the company’s stock worth $10,164,000 after purchasing an additional 135,726 shares during the last quarter. Invst LLC boosted its holdings in shares of GigaCloud Technology by 54.3% during the third quarter. Invst LLC now owns 17,289 shares of the company’s stock valued at $397,000 after acquiring an additional 6,081 shares during the period. Finally, Second Line Capital LLC increased its stake in shares of GigaCloud Technology by 17.2% in the third quarter. Second Line Capital LLC now owns 102,480 shares of the company’s stock valued at $2,355,000 after purchasing an additional 15,028 shares during the period. 34.94% of the stock is owned by institutional investors and hedge funds.

GigaCloud Technology Stock Performance

NASDAQ:GCT opened at $19.89 on Friday. 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 $814.89 million, a price-to-earnings ratio of 6.29 and a beta of 1.94. The business has a fifty day moving average of $20.40 and a 200-day moving average of $22.18.

Insider Activity

In other news, major shareholder Frank Hurst Lin sold 2,663,076 shares of the business’s stock in a transaction 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 sale, the insider now directly owns 1,406,813 shares of the company’s stock, valued at $30,668,523.40. The trade was a 65.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 price of $17.50 per share, for a total transaction of $87,500.00. Following the acquisition, the insider now owns 45,000 shares in the company, valued at approximately $787,500. This trade represents a 12.50 % increase in their position. The disclosure for this purchase can be found here. Insiders sold 2,811,979 shares of company stock worth $61,233,745 over the last three months. Corporate insiders own 43.00% of the company’s stock.

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.