Charles Schwab Investment Management Inc. Boosts Stock Position in GigaCloud Technology Inc. (NASDAQ:GCT)

Charles Schwab Investment Management Inc. boosted its position in GigaCloud Technology Inc. (NASDAQ:GCT - Free Report) by 279.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 214,569 shares of the company's stock after purchasing an additional 158,033 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.52% of GigaCloud Technology worth $4,931,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Amalgamated Bank bought a new stake in shares of GigaCloud Technology during the 2nd quarter valued at about $25,000. MFA Wealth Advisors LLC purchased a new stake in GigaCloud Technology in the third quarter valued at approximately $26,000. New York State Teachers Retirement System bought a new stake in GigaCloud Technology during the third quarter valued at approximately $49,000. Benjamin F. Edwards & Company Inc. purchased a new position in GigaCloud Technology in the 2nd quarter worth approximately $66,000. Finally, Banque Cantonale Vaudoise increased its holdings in shares of GigaCloud Technology by 345.6% in the 3rd quarter. Banque Cantonale Vaudoise now owns 7,286 shares of the company's stock worth $167,000 after buying an additional 5,651 shares during the last quarter. 34.94% of the stock is owned by institutional investors.

GigaCloud Technology Stock Down 0.1 %

Shares of NASDAQ GCT traded down $0.02 during mid-day trading on Friday, reaching $20.69. 1,048,034 shares of the company were exchanged, compared to its average volume of 2,168,963. GigaCloud Technology Inc. has a 52 week low of $12.66 and a 52 week high of $45.18. The company's 50 day moving average price is $23.97 and its 200 day moving average price is $25.17. The stock has a market capitalization of $847.71 million, a PE ratio of 6.55 and a beta of 1.74.

Insider Buying and Selling at GigaCloud Technology

In other GigaCloud Technology news, 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 transaction, the chief technology officer now directly owns 867,540 shares in the company, valued at $19,207,335.60. This trade represents a 8.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Frank Hurst Lin sold 2,663,076 shares of GigaCloud Technology stock in a transaction that occurred 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 transaction, the insider now directly owns 1,406,813 shares in the company, valued at $30,668,523.40. This trade represents a 65.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 43.00% of the company's stock.

About GigaCloud Technology

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.