Lake Hills Wealth Management LLC Makes New Investment in GigaCloud Technology Inc. (NASDAQ:GCT)

Lake Hills Wealth Management LLC bought a new position in GigaCloud Technology Inc. (NASDAQ:GCT - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 17,924 shares of the company's stock, valued at approximately $332,000.

Other institutional investors have also recently bought and sold shares of the company. Amalgamated Bank purchased a new position in shares of GigaCloud Technology in the 2nd quarter worth about $25,000. MFA Wealth Advisors LLC acquired a new stake in GigaCloud Technology during the 3rd quarter worth approximately $26,000. New York State Teachers Retirement System purchased a new position in GigaCloud Technology in the third quarter valued at approximately $49,000. Benjamin F. Edwards & Company Inc. purchased a new position in GigaCloud Technology in the second quarter valued at approximately $66,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in GigaCloud Technology during the third quarter valued at approximately $51,000. 34.94% of the stock is currently owned by hedge funds and other institutional investors.

GigaCloud Technology Trading Down 0.9 %

GCT traded down $0.20 during trading on Thursday, hitting $20.99. 895,567 shares of the company's stock were exchanged, compared to its average volume of 1,024,405. The stock has a 50 day moving average price of $20.95 and a 200 day moving average price of $22.84. GigaCloud Technology Inc. has a 1 year low of $15.61 and a 1 year high of $45.18. The firm has a market cap of $859.96 million, a P/E ratio of 6.64 and a beta of 1.92.

Insider Activity at GigaCloud Technology

In other news, CTO Xin Wan sold 80,000 shares of the business's stock in a transaction 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 transaction, the chief technology officer now directly owns 867,540 shares of the company's stock, valued at approximately $19,207,335.60. The trade was a 8.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Frank Hurst Lin sold 2,663,076 shares of the firm's stock in a transaction on Friday, December 6th. The shares were 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 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 three months, insiders sold 2,811,979 shares of company stock worth $61,233,745. Corporate insiders own 43.00% of the company's stock.

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.