Insider Selling: GigaCloud Technology Inc. (NASDAQ:GCT) CTO Sells 68,437 Shares of Stock

GigaCloud Technology Inc. (NASDAQ:GCT) CTO Xin Wan sold 68,437 shares of the business’s stock in a transaction dated 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 sale, the chief technology officer now directly owns 1,563 shares in the company, valued at approximately $31,932.09. This represents a 97.77 % decrease in their position. The transaction 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 Stock Down 3.4 %

NASDAQ GCT opened at $17.72 on Friday. GigaCloud Technology Inc. has a fifty-two week low of $14.57 and a fifty-two week high of $45.18. The business has a fifty day moving average of $23.49 and a 200-day 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.

Institutional Trading of GigaCloud Technology

A number of hedge funds have recently bought and sold shares of the company. Amalgamated Bank acquired a new stake in shares of GigaCloud Technology in the second quarter worth approximately $25,000. MFA Wealth Advisors LLC acquired a new position in shares of GigaCloud Technology in the 3rd quarter valued at $26,000. New York State Teachers Retirement System purchased a new stake in shares of GigaCloud Technology during the 3rd quarter valued at $49,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of GigaCloud Technology during the 3rd quarter worth $51,000. Finally, Benjamin F. Edwards & Company Inc. purchased a new position in shares of GigaCloud Technology in the 2nd quarter worth $66,000. Institutional investors and hedge funds own 34.94% 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.