GigaCloud Technology Inc. (NASDAQ:GCT - Get Free Report) insider Marshall Bernes purchased 5,000 shares of the stock in a transaction on Friday, December 27th. The stock was acquired at an average cost of $17.50 per share, for a total transaction of $87,500.00. Following the completion of the acquisition, the insider now owns 45,000 shares of the company's stock, valued at $787,500. The trade was a 12.50 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
GigaCloud Technology Price Performance
GCT stock traded up $1.35 during trading on Tuesday, hitting $18.52. 1,865,010 shares of the company traded hands, compared to its average volume of 2,122,916. GigaCloud Technology Inc. has a 1 year low of $15.61 and a 1 year high of $45.18. The company has a market cap of $758.80 million, a PE ratio of 5.86 and a beta of 1.74. The stock's 50-day simple moving average is $22.33 and its 200 day simple moving average is $24.01.
Institutional Investors Weigh In On GigaCloud Technology
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Amalgamated Bank purchased a new stake in shares of GigaCloud Technology during the 2nd quarter worth about $25,000. MFA Wealth Advisors LLC purchased a new position in GigaCloud Technology during the third quarter worth approximately $26,000. New York State Teachers Retirement System acquired a new stake in GigaCloud Technology in the third quarter valued at approximately $49,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of GigaCloud Technology in the third quarter valued at approximately $51,000. Finally, Benjamin F. Edwards & Company Inc. purchased a new stake in shares of GigaCloud Technology in the second quarter valued at approximately $66,000. Institutional investors and hedge funds own 34.94% of the company's stock.
GigaCloud Technology Company Profile
(
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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.
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