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

GigaCloud Technology Inc. (NASDAQ:GCT) Director Frank Hurst Lin sold 81,537 shares of GigaCloud Technology stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $29.83, for a total transaction of $2,432,248.71. Following the transaction, the director now directly 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 Securities & Exchange Commission, which is available through the SEC website.

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

• On Thursday, June 27th, Frank Hurst Lin sold 93,211 shares of GigaCloud Technology stock. The stock was sold at an average price of $29.66, for a total transaction of $2,764,638.26.
• 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 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 stock was 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 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 transaction of $3,416,347.08.

GigaCloud Technology Stock Up 1.0 %

Shares of GCT stock opened at $30.42 on Friday. GigaCloud Technology Inc. has a twelve month low of $6.70 and a twelve month high of $45.18. The business has a fifty day simple moving average of $33.18 and a 200 day simple moving average of $29.25. The company has a market cap of $1.24 billion, a P/E ratio of 11.84 and a beta of 1.87.

GigaCloud Technology (NASDAQ:GCT) last posted its quarterly earnings results 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 the consensus estimate of $235.00 million. GigaCloud Technology had a net margin of 12.74% and a return on equity of 41.24%. During the same period last year, the company posted $0.39 EPS. As a group, equities research analysts anticipate 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 research analysts have recently weighed in 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 report on Tuesday, April 2nd. Maxim Group started coverage on shares of GigaCloud Technology in a research note on Wednesday, May 22nd. They issued a “buy” rating and a $69.00 price objective on the stock.

Institutional Trading of GigaCloud Technology

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. CWM LLC bought a new position in GigaCloud Technology in the 4th quarter valued at approximately $30,000. Quarry LP bought a new position in shares of GigaCloud Technology during the fourth quarter valued at $47,000. Tucker Asset Management LLC raised its stake in shares of GigaCloud Technology by 1,499.8% during the fourth 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 last quarter. Foundations Investment Advisors LLC acquired a new position in shares of GigaCloud Technology during the fourth quarter worth $207,000. Finally, Truvestments Capital LLC bought a new stake in shares of GigaCloud Technology in the first quarter worth $327,000. Institutional investors own 34.94% of the company’s stock.

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.