Insider Selling: GigaCloud Technology Inc. (NASDAQ:GCT) CTO Sells $1,398,167.91 in Stock

GigaCloud Technology Inc. (NASDAQ:GCT) CTO Xin Wan sold 68,437 shares of the business’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $20.43, for a total transaction of $1,398,167.91. Following the completion of the sale, the chief technology officer now directly owns 1,563 shares of the company’s stock, valued at approximately $31,932.09. The trade was a 97.77 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Xin Wan also recently made the following trade(s):

• On Wednesday, December 18th, Xin Wan sold 466 shares of GigaCloud Technology stock. The shares were sold at an average price of $20.00, for a total value of $9,320.00.
• On Friday, December 6th, Xin Wan sold 80,000 shares of GigaCloud Technology stock. The shares were sold at an average price of $22.14, for a total transaction of $1,771,200.00.

GigaCloud Technology Price Performance

GigaCloud Technology stock opened at $17.72 on Friday. The firm has a 50 day simple moving average of $23.49 and a 200-day simple moving average of $24.88. The stock has a market cap of $726.02 million, a price-to-earnings ratio of 5.61 and a beta of 1.74. GigaCloud Technology Inc. has a 1-year low of $14.57 and a 1-year high of $45.18.

Institutional Investors Weigh In On GigaCloud Technology

Hedge funds and other institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp purchased a new position in shares of GigaCloud Technology in the 2nd quarter valued at $2,000,000. Commonwealth Equity Services LLC grew its stake in GigaCloud Technology by 133.1% during the 2nd quarter. Commonwealth Equity Services LLC now owns 42,370 shares of the company’s stock worth $1,289,000 after buying an additional 24,190 shares during the last quarter. Aptus Capital Advisors LLC acquired a new position in GigaCloud Technology during the second quarter worth approximately $2,663,000. Rhumbline Advisers acquired a new stake in shares of GigaCloud Technology in the second quarter valued at approximately $930,000. Finally, Legacy Bridge LLC purchased a new stake in GigaCloud Technology in the 2nd quarter valued at $647,000. 34.94% of the stock is currently owned by institutional investors and hedge funds.

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.