GigaCloud Technology Inc. (NASDAQ:GCT) Shares Purchased by Second Line Capital LLC

Second Line Capital LLC grew its position in GigaCloud Technology Inc. (NASDAQ:GCT) by 17.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 102,480 shares of the company’s stock after acquiring an additional 15,028 shares during the period. Second Line Capital LLC owned about 0.25% of GigaCloud Technology worth $2,355,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in GCT. Harvest Fund Management Co. Ltd purchased a new position in GigaCloud Technology in the 3rd quarter valued at approximately $6,956,000. Geode Capital Management LLC lifted its holdings in shares of GigaCloud Technology by 90.7% in the third quarter. Geode Capital Management LLC now owns 577,108 shares of the company’s stock valued at $13,265,000 after purchasing an additional 274,506 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake 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. WT Asset Management Ltd acquired a new position in shares of GigaCloud Technology during the 3rd quarter worth approximately $2,804,000. Finally, State Street Corp increased its position in GigaCloud Technology by 31.7% during the third quarter. State Street Corp now owns 502,445 shares of the company’s stock worth $11,546,000 after buying an additional 121,037 shares in the last quarter. 34.94% of the stock is currently owned by institutional investors and hedge funds.

GigaCloud Technology Stock Down 5.1 %

GCT opened at $21.99 on Wednesday. The company’s 50-day moving average price is $24.33 and its 200 day moving average price is $25.35. GigaCloud Technology Inc. has a fifty-two week low of $12.66 and a fifty-two week high of $45.18. The firm has a market cap of $900.97 million, a price-to-earnings ratio of 6.96 and a beta of 1.74.

Wall Street Analysts Forecast Growth

Separately, Aegis raised shares of GigaCloud Technology to a “strong-buy” rating in a research note on Wednesday, August 14th.

Insider Buying and Selling at GigaCloud Technology

In related news, CTO Xin Wan sold 80,000 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $22.14, for a total transaction of $1,771,200.00. Following the sale, the chief technology officer now owns 867,540 shares of the company’s stock, valued at $19,207,335.60. The trade was a 8.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 43.00% of the stock is currently owned by company insiders.

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.