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

GigaCloud Technology Inc. (NASDAQ:GCT) President Iman Aj Schrock sold 5,000 shares of the business’s stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $30.21, for a total transaction of $151,050.00. Following the sale, the president now directly owns 25,000 shares in the company, valued at approximately $755,250. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

GigaCloud Technology Stock Down 1.8 %

Shares of GigaCloud Technology stock opened at $31.44 on Wednesday. GigaCloud Technology Inc. has a twelve month low of $6.70 and a twelve month high of $45.18. The stock has a market cap of $1.28 billion, a price-to-earnings ratio of 12.23 and a beta of 1.81. The company’s fifty day moving average is $32.97 and its 200 day moving average is $29.73.

GigaCloud Technology (NASDAQ:GCT) last issued its quarterly earnings data on Thursday, May 9th. The company reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.33. GigaCloud Technology had a net margin of 12.74% and a return on equity of 41.24%. The company had revenue of $251.08 million for the quarter, compared to analysts’ expectations of $235.00 million. During the same quarter in the previous year, the firm posted $0.39 earnings per share. As a group, equities analysts anticipate that GigaCloud Technology Inc. will post 3.25 earnings per share for the current fiscal year.

Analysts Set New Price Targets

GCT has been the topic of a number of research reports. Roth Mkm boosted their target price on shares of GigaCloud Technology from $28.00 to $35.00 and gave the stock a “buy” rating in a research note on Tuesday, April 2nd. Maxim Group began 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 on the stock.

Institutional Trading of GigaCloud Technology

Several institutional investors have recently modified their holdings of the business. Empowered Funds LLC grew its stake in shares of GigaCloud Technology by 8.1% in the first quarter. Empowered Funds LLC now owns 163,510 shares of the company’s stock worth $4,369,000 after purchasing an additional 12,278 shares during the last quarter. Quadrature Capital Ltd bought a new stake in GigaCloud Technology during the fourth quarter valued at $2,803,000. Pacific Ridge Capital Partners LLC boosted its position in GigaCloud Technology by 27.1% during the fourth quarter. Pacific Ridge Capital Partners LLC now owns 84,617 shares of the company’s stock valued at $1,548,000 after acquiring an additional 18,049 shares during the last quarter. Tidal Investments LLC bought a new stake in GigaCloud Technology during the first quarter valued at $1,731,000. Finally, Nomura Holdings Inc. bought a new stake in GigaCloud Technology during the fourth quarter valued at $991,000. Institutional investors own 34.94% of the company’s stock.

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.