GigaCloud Technology Inc. (NASDAQ:GCT) President Iman Aj Schrock Sells 5,000 Shares

GigaCloud Technology Inc. (NASDAQ:GCT) President Iman Aj Schrock sold 5,000 shares of GigaCloud Technology stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $30.21, for a total transaction of $151,050.00. Following the completion of the sale, the president now directly owns 25,000 shares in the company, valued at approximately $755,250. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

GigaCloud Technology Stock Performance

Shares of GCT stock opened at $32.00 on Tuesday. The stock’s fifty day moving average is $33.08 and its two-hundred day moving average is $29.60. The firm has a market capitalization of $1.31 billion, a P/E ratio of 12.45 and a beta of 1.81. GigaCloud Technology Inc. has a fifty-two week low of $6.70 and a fifty-two week high of $45.18.

GigaCloud Technology (NASDAQ:GCT) last announced its quarterly earnings data on Thursday, May 9th. The company reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.33. The company had revenue of $251.08 million for the quarter, compared to analyst estimates of $235.00 million. GigaCloud Technology had a return on equity of 41.24% and a net margin of 12.74%. During the same quarter last year, the firm posted $0.39 EPS. On average, equities analysts forecast that GigaCloud Technology Inc. will post 3.25 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Empowered Funds LLC lifted its holdings in GigaCloud Technology by 8.1% in the 1st quarter. Empowered Funds LLC now owns 163,510 shares of the company’s stock valued at $4,369,000 after purchasing an additional 12,278 shares in the last quarter. Quadrature Capital Ltd purchased a new position in GigaCloud Technology in the 4th quarter valued at $2,803,000. Pacific Ridge Capital Partners LLC lifted its holdings in GigaCloud Technology by 27.1% in the 4th quarter. Pacific Ridge Capital Partners LLC now owns 84,617 shares of the company’s stock valued at $1,548,000 after purchasing an additional 18,049 shares in the last quarter. Tidal Investments LLC purchased a new position in shares of GigaCloud Technology during the 1st quarter worth $1,731,000. Finally, Nomura Holdings Inc. purchased a new position in shares of GigaCloud Technology during the 4th quarter worth $991,000. Hedge funds and other institutional investors own 34.94% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on GCT. Maxim Group began coverage on shares of GigaCloud Technology in a research note on Wednesday, May 22nd. They issued a “buy” rating and a $69.00 price target on the stock. Roth Mkm lifted their price target on shares of GigaCloud Technology from $28.00 to $35.00 and gave the company a “buy” rating in a research note on Tuesday, April 2nd.

GigaCloud Technology Company 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.