Marshall Bernes Purchases 5,000 Shares of GigaCloud Technology Inc. (NASDAQ:GCT) Stock

Posted by William Tyler on Jan 2nd, 2025

GigaCloud Technology Inc. (NASDAQ:GCT – Get Free Report) insider Marshall Bernes bought 5,000 shares of the firm’s stock in a transaction that occurred on Friday, December 27th. The shares were acquired at an average price of $17.50 per share, with a total value of $87,500.00. Following the purchase, the insider now owns 45,000 shares in the company, valued at $787,500. This trade represents a 12.50 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

GigaCloud Technology Stock Up 7.9 %

Shares of GCT stock opened at $18.52 on Thursday. GigaCloud Technology Inc. has a 12 month low of $15.61 and a 12 month high of $45.18. The firm has a market cap of $758.80 million, a PE ratio of 5.86 and a beta of 1.74. The stock has a 50 day moving average of $22.20 and a 200-day moving average of $23.97.

Hedge Funds Weigh In On GigaCloud Technology

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

GigaCloud Technology Company Profile

(Get Free Report)

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.