GigaCloud Technology Inc. (NASDAQ:GCT – Get Free Report) Director Frank Hurst Lin sold 93,211 shares of the company’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $29.66, for a total value of $2,764,638.26. Following the completion of the transaction, the director now directly owns 4,219,582 shares of the company’s stock, valued at $125,152,802.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Frank Hurst Lin also recently made the following trade(s):
- On Tuesday, June 25th, Frank Hurst Lin sold 81,537 shares of GigaCloud Technology stock. The stock was sold at an average price of $29.83, for a total transaction of $2,432,248.71.
- On Thursday, June 20th, Frank Hurst Lin sold 15,993 shares of GigaCloud Technology stock. The stock was sold at an average price of $30.14, for a total transaction 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 shares were sold at an average price of $33.16, for a total value of $5,808,902.48.
- On Thursday, May 16th, Frank Hurst Lin sold 40,134 shares of GigaCloud Technology stock. The shares were sold at an average price of $36.21, for a total transaction 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 transaction of $3,416,347.08.
GigaCloud Technology Stock Performance
GCT stock opened at $30.42 on Friday. The stock has a market capitalization of $1.24 billion, a PE ratio of 11.84 and a beta of 1.87. The company has a fifty day moving average of $33.18 and a 200-day moving average of $29.35. GigaCloud Technology Inc. has a one year low of $6.70 and a one year high of $45.18.
Analysts Set New Price Targets
Several equities research analysts have recently weighed in on GCT shares. Maxim Group assumed coverage on shares of GigaCloud Technology in a research note on Wednesday, May 22nd. They set a “buy” rating and a $69.00 target price for the company. Roth Mkm increased their price objective on GigaCloud Technology from $28.00 to $35.00 and gave the stock a “buy” rating in a research report on Tuesday, April 2nd.
Read Our Latest Stock Analysis on GCT
Institutional Trading of GigaCloud Technology
A number of institutional investors have recently modified their holdings of the business. Tidal Investments LLC purchased a new position in GigaCloud Technology in the first quarter worth $1,731,000. Truvestments Capital LLC acquired a new position in shares of GigaCloud Technology during the 1st quarter worth $327,000. Avantax Advisory Services Inc. increased its holdings in shares of GigaCloud Technology by 86.3% in the 1st quarter. Avantax Advisory Services Inc. now owns 23,014 shares of the company’s stock valued at $615,000 after purchasing an additional 10,659 shares in the last quarter. Thoroughbred Financial Services LLC acquired a new stake in shares of GigaCloud Technology in the first quarter valued at about $1,212,000. Finally, Empowered Funds LLC boosted its holdings in GigaCloud Technology by 8.1% during the first quarter. Empowered Funds LLC now owns 163,510 shares of the company’s stock worth $4,369,000 after buying an additional 12,278 shares in the last quarter. 34.94% of the stock is currently owned by hedge funds and other 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.
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