Barclays PLC Sells 486,375 Shares of GigaCloud Technology Inc. (NASDAQ:GCT)

Barclays PLC decreased its holdings in shares of GigaCloud Technology Inc. (NASDAQ:GCT - Free Report) by 73.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 172,279 shares of the company's stock after selling 486,375 shares during the quarter. Barclays PLC owned approximately 0.42% of GigaCloud Technology worth $3,958,000 as of its most recent SEC filing.

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

Insider Activity at GigaCloud Technology

In related news, major shareholder Frank Hurst Lin sold 2,663,076 shares of the company's stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $21.80, for a total value of $58,055,056.80. Following the completion of the sale, the insider now owns 1,406,813 shares in the company, valued at approximately $30,668,523.40. This represents a 65.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, 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 owns 867,540 shares in the company, valued at $19,207,335.60. This represents a 8.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,811,979 shares of company stock valued at $61,233,745 over the last quarter. Corporate insiders own 43.00% of the company's stock.

GigaCloud Technology Trading Up 1.4 %

NASDAQ:GCT traded up $0.25 during mid-day trading on Monday, hitting $18.18. The company's stock had a trading volume of 1,241,303 shares, compared to its average volume of 2,144,599. The company has a market capitalization of $744.87 million, a price-to-earnings ratio of 5.75 and a beta of 1.74. GigaCloud Technology Inc. has a fifty-two week low of $15.18 and a fifty-two week high of $45.18. The stock has a fifty day moving average of $23.21 and a 200-day moving average of $24.59.

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.