17,924 Shares in GigaCloud Technology Inc. (NASDAQ:GCT) Acquired by Lake Hills Wealth Management LLC

Lake Hills Wealth Management LLC bought a new stake in shares of GigaCloud Technology Inc. (NASDAQ:GCT) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 17,924 shares of the company’s stock, valued at approximately $332,000.

Several other institutional investors have also recently made changes to their positions in the stock. SG Americas Securities LLC lifted its stake in GigaCloud Technology by 36.1% in the 4th quarter. SG Americas Securities LLC now owns 13,680 shares of the company’s stock worth $253,000 after purchasing an additional 3,632 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of GigaCloud Technology by 446.1% in the third quarter. JPMorgan Chase & Co. now owns 100,686 shares of the company’s stock worth $2,314,000 after purchasing an additional 82,250 shares during the period. Principal Financial Group Inc. bought a new position in shares of GigaCloud Technology in the third quarter worth $1,442,000. Franklin Resources Inc. raised its position in shares of GigaCloud Technology by 49.5% in the third quarter. Franklin Resources Inc. now owns 409,829 shares of the company’s stock worth $10,164,000 after buying an additional 135,726 shares in the last quarter. Finally, Invst LLC boosted its stake in GigaCloud Technology by 54.3% during the third quarter. Invst LLC now owns 17,289 shares of the company’s stock valued at $397,000 after buying an additional 6,081 shares during the period. Hedge funds and other institutional investors own 34.94% of the company’s stock.

GigaCloud Technology Stock Up 2.8 %

Shares of NASDAQ GCT opened at $21.19 on Thursday. The stock’s 50-day simple moving average is $20.96 and its two-hundred day simple moving average is $22.86. GigaCloud Technology Inc. has a twelve month low of $15.61 and a twelve month high of $45.18. The firm has a market capitalization of $868.15 million, a P/E ratio of 6.71 and a beta of 1.92.

Insider Buying and Selling

In other news, insider Marshall Bernes bought 5,000 shares of the business’s stock in a transaction on Friday, December 27th. The stock was acquired at an average price of $17.50 per share, with a total value of $87,500.00. Following the completion of the purchase, the insider now directly owns 45,000 shares in the company, valued at $787,500. This represents a 12.50 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through 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. Over the last three months, insiders have sold 2,811,979 shares of company stock worth $61,233,745. Insiders own 43.00% of the company’s stock.

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.