GigaCloud Technology Inc. (NASDAQ:GCT) Director Frank Hurst Lin Sells 81,537 Shares of Stock

GigaCloud Technology Inc. (NASDAQ:GCT) Director Frank Hurst Lin sold 81,537 shares of GigaCloud Technology stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $29.83, for a total transaction of $2,432,248.71. Following the completion of the transaction, the director now owns 4,447,352 shares of the company’s stock, valued at $132,664,510.16. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Frank Hurst Lin also recently made the following trade(s):

• On Thursday, June 20th, Frank Hurst Lin sold 15,993 shares of GigaCloud Technology stock. The shares were sold at an average price of $30.14, for a total value of $482,029.02.
• On Thursday, June 13th, Frank Hurst Lin sold 87,045 shares of GigaCloud Technology stock. The shares were sold at an average price of $32.23, for a total value of $2,805,460.35.
• On Tuesday, June 11th, Frank Hurst Lin sold 175,178 shares of GigaCloud Technology stock. The stock was sold at an average price of $33.16, for a total transaction of $5,808,902.48.
• On Thursday, May 16th, Frank Hurst Lin sold 40,134 shares of GigaCloud Technology stock. The stock was sold at an average price of $36.21, for a total value of $1,453,252.14.
• On Tuesday, May 14th, Frank Hurst Lin sold 92,886 shares of GigaCloud Technology stock. The shares were sold at an average price of $36.78, for a total value of $3,416,347.08.

GigaCloud Technology Stock Up 2.3 %

GigaCloud Technology stock opened at $30.12 on Friday. The firm has a fifty day simple moving average of $33.27 and a two-hundred day simple moving average of $29.14. GigaCloud Technology Inc. has a twelve month low of $6.70 and a twelve month high of $45.18. The company has a market capitalization of $1.23 billion, a PE ratio of 11.72 and a beta of 1.87.

GigaCloud Technology (NASDAQ:GCT) last issued its earnings results on Thursday, May 9th. The company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.33. GigaCloud Technology had a return on equity of 41.24% and a net margin of 12.74%. The company had revenue of $251.08 million during the quarter, compared to analysts’ expectations of $235.00 million. During the same period in the prior year, the business posted $0.39 EPS. As a group, equities analysts expect that GigaCloud Technology Inc. will post 3.25 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Roth Mkm boosted their price target on shares of GigaCloud Technology from $28.00 to $35.00 and gave the stock a “buy” rating in a research note on Tuesday, April 2nd. Maxim Group started coverage on GigaCloud Technology in a research note on Wednesday, May 22nd. They set a “buy” rating and a $69.00 price target for the company.

Institutional Investors Weigh In On GigaCloud Technology

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. CWM LLC bought a new stake in GigaCloud Technology in the 4th quarter worth $30,000. Quarry LP bought a new stake in shares of GigaCloud Technology in the fourth quarter worth about $47,000. Tucker Asset Management LLC raised its position in GigaCloud Technology by 1,499.8% during the 4th quarter. Tucker Asset Management LLC now owns 7,999 shares of the company’s stock valued at $146,000 after purchasing an additional 7,499 shares during the last quarter. Foundations Investment Advisors LLC purchased a new stake in GigaCloud Technology in the 4th quarter worth approximately $207,000. Finally, Avantax Advisory Services Inc. purchased a new stake in GigaCloud Technology in the 4th quarter worth approximately $226,000. 34.94% of the stock is currently owned by institutional investors.

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.