Barclays PLC Has $3.96 Million Stake in GigaCloud Technology Inc. (NASDAQ:GCT)

Barclays PLC lowered its holdings in GigaCloud Technology Inc. (NASDAQ:GCT) by 73.8% during the third quarter, according to the company in its most recent Form 13F 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 owned about 0.42% of GigaCloud Technology worth $3,958,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in GCT. Amalgamated Bank acquired a new position in GigaCloud Technology during the 2nd quarter worth about $25,000. MFA Wealth Advisors LLC acquired a new position in shares of GigaCloud Technology during the third quarter worth approximately $26,000. New York State Teachers Retirement System bought a new stake in shares of GigaCloud Technology during the third quarter valued at approximately $49,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in GigaCloud Technology in the 3rd quarter worth approximately $51,000. Finally, Benjamin F. Edwards & Company Inc. acquired a new position in GigaCloud Technology during the 2nd quarter worth $66,000. Institutional investors own 34.94% of the company’s stock.

GigaCloud Technology Stock Performance

NASDAQ GCT opened at $17.93 on Monday. The stock has a market capitalization of $734.63 million, a P/E ratio of 5.67 and a beta of 1.74. GigaCloud Technology Inc. has a 52 week low of $14.57 and a 52 week high of $45.18. The stock has a fifty day moving average of $23.34 and a 200-day moving average of $24.68.

Insiders Place Their Bets

In other GigaCloud Technology news, CTO Xin Wan sold 68,437 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $20.43, for a total transaction of $1,398,167.91. Following the completion of the sale, the chief technology officer now owns 1,563 shares in the company, valued at approximately $31,932.09. The trade was a 97.77 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Frank Hurst Lin sold 2,663,076 shares of the stock in a transaction on Friday, December 6th. The shares were sold at an average price of $21.80, for a total value of $58,055,056.80. Following the completion of the transaction, the insider now directly owns 1,406,813 shares in the company, valued at approximately $30,668,523.40. This trade represents a 65.43 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 2,811,979 shares of company stock valued at $61,233,745. 43.00% of the stock is currently owned by insiders.

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.