Lake Hills Wealth Management LLC Invests $332,000 in GigaCloud Technology Inc. (NASDAQ:GCT)

Lake Hills Wealth Management LLC purchased a new stake in shares of GigaCloud Technology Inc. (NASDAQ:GCT) during the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 17,924 shares of the company’s stock, valued at approximately $332,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Amalgamated Bank bought a new stake in shares of GigaCloud Technology in the 2nd quarter worth approximately $25,000. MFA Wealth Advisors LLC purchased a new stake in shares of GigaCloud Technology in the third quarter worth $26,000. New York State Teachers Retirement System bought a new position in shares of GigaCloud Technology during the third quarter valued at $49,000. Benjamin F. Edwards & Company Inc. purchased a new position in shares of GigaCloud Technology in the 2nd quarter worth about $66,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new position in GigaCloud Technology in the 3rd quarter worth about $51,000. Hedge funds and other institutional investors own 34.94% of the company’s stock.

Insider Activity

In related 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 transaction, the insider now owns 45,000 shares in the company, valued at approximately $787,500. This trade represents a 12.50 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, CTO Xin Wan sold 80,000 shares of the stock in a transaction on Friday, December 6th. The shares were sold at an average price of $22.14, for a total value of $1,771,200.00. Following the transaction, the chief technology officer now directly owns 867,540 shares in the company, valued at $19,207,335.60. The trade was a 8.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,811,979 shares of company stock worth $61,233,745 over the last 90 days. 43.00% of the stock is currently owned by insiders.

GigaCloud Technology Stock Performance

Shares of GCT stock opened at $21.19 on Thursday. The company has a market capitalization of $868.15 million, a price-to-earnings ratio of 6.71 and a beta of 1.92. GigaCloud Technology Inc. has a one year low of $15.61 and a one year high of $45.18. The company’s 50-day moving average is $20.96 and its 200 day moving average is $22.86.

GigaCloud Technology 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.