Insider Selling: GigaCloud Technology Inc. (NASDAQ:GCT) Director Sells $482,029.02 in Stock

GigaCloud Technology Inc. (NASDAQ:GCT) Director Frank Hurst Lin sold 15,993 shares of the firm’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $30.14, for a total value of $482,029.02. Following the sale, the director now directly owns 4,588,873 shares of the company’s stock, valued at approximately $138,308,632.22. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

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 value of $2,432,248.71.
• On Thursday, June 13th, Frank Hurst Lin sold 87,045 shares of GigaCloud Technology stock. The stock was 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.
• On Thursday, March 28th, Frank Hurst Lin sold 94,413 shares of GigaCloud Technology stock. The shares were sold at an average price of $27.38, for a total value of $2,585,027.94.

GigaCloud Technology Trading Up 2.3 %

NASDAQ:GCT opened at $30.12 on Friday. GigaCloud Technology Inc. has a 12 month low of $6.70 and a 12 month high of $45.18. The stock has a market capitalization of $1.23 billion, a price-to-earnings ratio of 11.72 and a beta of 1.87. 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 (NASDAQ:GCT) last issued its earnings results on Thursday, May 9th. The company reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $235.00 million. During the same period in the prior year, the firm earned $0.39 earnings per share. Equities analysts predict that GigaCloud Technology Inc. will post 3.25 earnings per share for the current fiscal year.

Hedge Funds Weigh In On GigaCloud Technology

Several large investors have recently added to or reduced their stakes in GCT. Quadrature Capital Ltd purchased a new position in shares of GigaCloud Technology during the fourth quarter valued at approximately $2,803,000. Tidal Investments LLC purchased a new position in GigaCloud Technology during the 1st quarter worth $1,731,000. Nomura Holdings Inc. bought a new stake in shares of GigaCloud Technology in the 4th quarter worth $991,000. Rock Creek Group LP purchased a new stake in shares of GigaCloud Technology in the fourth quarter valued at about $927,000. Finally, Thoroughbred Financial Services LLC bought a new position in shares of GigaCloud Technology during the first quarter valued at about $1,212,000. Institutional investors own 34.94% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on GCT. Maxim Group began coverage on shares of GigaCloud Technology in a report on Wednesday, May 22nd. They set a “buy” rating and a $69.00 target price on the stock. Roth Mkm increased their price target on 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.