Independent Advisor Alliance trimmed its position in GigaCloud Technology Inc. (NASDAQ:GCT - Free Report) by 67.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,433 shares of the company's stock after selling 39,575 shares during the period. Independent Advisor Alliance's holdings in GigaCloud Technology were worth $447,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Harvest Fund Management Co. Ltd purchased a new stake in shares of GigaCloud Technology during the 3rd quarter worth $6,956,000. Charles Schwab Investment Management Inc. boosted its position in shares of GigaCloud Technology by 279.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 214,569 shares of the company's stock worth $4,931,000 after purchasing an additional 158,033 shares in the last quarter. Empowered Funds LLC boosted its position in shares of GigaCloud Technology by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 185,490 shares of the company's stock worth $4,263,000 after purchasing an additional 9,380 shares in the last quarter. WT Asset Management Ltd purchased a new stake in shares of GigaCloud Technology during the 3rd quarter worth $2,804,000. Finally, Aptus Capital Advisors LLC boosted its position in shares of GigaCloud Technology by 17.2% during the 3rd quarter. Aptus Capital Advisors LLC now owns 102,580 shares of the company's stock worth $2,357,000 after purchasing an additional 15,028 shares in the last quarter. 34.94% of the stock is currently owned by hedge funds and other institutional investors.
GigaCloud Technology Stock Down 0.3 %
Shares of GigaCloud Technology stock traded down $0.08 on Friday, hitting $24.70. The company's stock had a trading volume of 485,938 shares, compared to its average volume of 2,192,573. GigaCloud Technology Inc. has a 52-week low of $8.70 and a 52-week high of $45.18. The firm has a fifty day moving average price of $24.05 and a 200-day moving average price of $25.96. The company has a market capitalization of $1.01 billion, a P/E ratio of 7.82 and a beta of 1.78.
Analyst Upgrades and Downgrades
Separately, Aegis upgraded shares of GigaCloud Technology to a "strong-buy" rating in a research report on Wednesday, August 14th.
View Our Latest Report on GCT
GigaCloud Technology Profile
(
Free Report)
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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