Barclays PLC Sells 486,375 Shares of GigaCloud Technology Inc. (NASDAQ:GCT)

Barclays PLC trimmed its holdings in shares of GigaCloud Technology Inc. (NASDAQ:GCT) by 73.8% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 172,279 shares of the company’s stock after selling 486,375 shares during the quarter. Barclays PLC’s holdings in GigaCloud Technology were worth $3,958,000 as of its most recent filing with the SEC.

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

Insider Buying and Selling at GigaCloud Technology

In other news, CTO Xin Wan sold 80,000 shares of the stock in a transaction that occurred on 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 sale, the chief technology officer now owns 867,540 shares of the company’s stock, valued at approximately $19,207,335.60. This represents a 8.44 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Frank Hurst Lin sold 2,663,076 shares of the business’s stock in a transaction 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 owns 1,406,813 shares in the company, valued at approximately $30,668,523.40. The trade was a 65.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In 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 Stock Up 1.2 %

NASDAQ GCT opened at $17.93 on Monday. The firm’s 50 day moving average is $23.34 and its 200-day moving average is $24.68. The company has a market capitalization of $734.63 million, a PE ratio of 5.67 and a beta of 1.74. GigaCloud Technology Inc. has a 12-month low of $14.57 and a 12-month high of $45.18.

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.