Legacy Bridge LLC Decreases Stake in GigaCloud Technology Inc. (NASDAQ:GCT)

Legacy Bridge LLC lessened its holdings in shares of GigaCloud Technology Inc. (NASDAQ:GCT) by 5.2% in the 4th quarter, Holdings Channel reports. The fund owned 13,095 shares of the company’s stock after selling 725 shares during the quarter. Legacy Bridge LLC’s holdings in GigaCloud Technology were worth $243,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Amalgamated Bank acquired a new position in shares of GigaCloud Technology during the 2nd quarter valued at about $25,000. MFA Wealth Advisors LLC acquired a new position in GigaCloud Technology in the third quarter valued at approximately $26,000. New York State Teachers Retirement System purchased a new position in GigaCloud Technology in the third quarter worth approximately $49,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in GigaCloud Technology during the third quarter worth $51,000. Finally, Quarry LP raised its position in GigaCloud Technology by 519.8% in the third quarter. Quarry LP now owns 3,663 shares of the company’s stock valued at $84,000 after purchasing an additional 3,072 shares during the period. Hedge funds and other institutional investors own 34.94% of the company’s stock.

Insiders Place Their Bets

In other GigaCloud Technology news, CTO Xin Wan sold 80,000 shares of GigaCloud Technology stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $22.14, for a total value of $1,771,200.00. Following the completion of the transaction, the chief technology officer now directly owns 867,540 shares of the company’s stock, valued at $19,207,335.60. The trade was a 8.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Marshall Bernes purchased 5,000 shares of GigaCloud Technology stock in a transaction dated Friday, December 27th. The shares were acquired at an average cost of $17.50 per share, for a total transaction of $87,500.00. Following the transaction, the insider now directly owns 45,000 shares of the company’s stock, valued at approximately $787,500. This represents a 12.50 % increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 2,811,979 shares of company stock valued at $61,233,745 over the last 90 days. 43.00% of the stock is owned by company insiders.

GigaCloud Technology Trading Down 5.6 %

NASDAQ GCT opened at $19.91 on Tuesday. The stock has a market cap of $815.71 million, a PE ratio of 6.30 and a beta of 1.92. GigaCloud Technology Inc. has a twelve month low of $15.61 and a twelve month high of $45.18. The stock has a fifty day simple moving average of $20.96 and a 200-day simple moving average of $22.64.

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.