Xin Wan Sells 150,000 Shares of GigaCloud Technology Inc. (NASDAQ:GCT) Stock

GigaCloud Technology Inc. (NASDAQ:GCT) CTO Xin Wan sold 150,000 shares of the stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $27.26, for a total transaction of $4,089,000.00. Following the transaction, the chief technology officer now owns 947,540 shares in the company, valued at approximately $25,829,940.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

GigaCloud Technology Stock Performance

GCT stock opened at $35.65 on Thursday. The company has a market cap of $1.45 billion, a price-to-earnings ratio of 15.50 and a beta of 2.26. The business’s 50-day moving average is $31.14 and its two-hundred day moving average is $19.20. GigaCloud Technology Inc. has a fifty-two week low of $4.93 and a fifty-two week high of $45.18.

Institutional Investors Weigh In On GigaCloud Technology

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Nomura Holdings Inc. purchased a new position in shares of GigaCloud Technology in the fourth quarter worth approximately $991,000. Quadrature Capital Ltd purchased a new position in shares of GigaCloud Technology during the 4th quarter worth $2,803,000. Tucker Asset Management LLC grew its position in shares of 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 acquiring an additional 7,499 shares during the period. Quarry LP purchased a new stake in shares of GigaCloud Technology in the 4th quarter worth $47,000. Finally, Occudo Quantitative Strategies LP purchased a new stake in shares of GigaCloud Technology in the 4th quarter worth $731,000. Hedge funds and other institutional investors own 34.94% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Roth Mkm boosted their target price on shares of GigaCloud Technology from $28.00 to $35.00 and gave the company a “buy” rating in a research note on Tuesday.

GigaCloud Technology Company Profile

GigaCloud Technology Inc provides end-to-end B2B ecommerce solutions for large parcel merchandise. 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.