GigaCloud Technology Inc. (NASDAQ:GCT) Director Frank Hurst Lin Sells 87,045 Shares of Stock

GigaCloud Technology Inc. (NASDAQ:GCT) Director Frank Hurst Lin sold 87,045 shares of GigaCloud Technology stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $32.23, for a total transaction of $2,805,460.35. Following the transaction, the director now owns 4,891,063 shares in the company, valued at approximately $157,638,960.49. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

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

• 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 transaction 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.
• On Thursday, March 28th, Frank Hurst Lin sold 94,413 shares of GigaCloud Technology stock. The stock was sold at an average price of $27.38, for a total transaction of $2,585,027.94.
• On Tuesday, March 19th, Frank Hurst Lin sold 133,097 shares of GigaCloud Technology stock. The stock was sold at an average price of $30.38, for a total transaction of $4,043,486.86.

GigaCloud Technology Stock Down 3.6 %

GigaCloud Technology stock opened at $30.06 on Tuesday. The company’s 50-day moving average price is $33.86 and its 200-day moving average price is $28.42. GigaCloud Technology Inc. has a twelve month low of $6.70 and a twelve month high of $45.18. The company has a market cap of $1.23 billion, a PE ratio of 11.70 and a beta of 1.88.

GigaCloud Technology (NASDAQ:GCT) last posted 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 net margin of 12.74% and a return on equity of 41.24%. The firm had revenue of $251.08 million for the quarter, compared to the consensus estimate of $235.00 million. During the same period in the previous year, the firm posted $0.39 EPS. As a group, sell-side analysts expect that GigaCloud Technology Inc. will post 3.25 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Maxim Group assumed coverage on shares of GigaCloud Technology in a research note on Wednesday, May 22nd. They issued a “buy” rating and a $69.00 price target on the stock. Roth Mkm boosted their price target 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.

Hedge Funds Weigh In On GigaCloud Technology

Several hedge funds have recently added to or reduced their stakes in the company. Acadian Asset Management LLC bought a new position in GigaCloud Technology during the 3rd quarter valued at about $9,634,000. Empowered Funds LLC grew its holdings in GigaCloud Technology by 8.1% during the 1st quarter. Empowered Funds LLC now owns 163,510 shares of the company’s stock valued at $4,369,000 after purchasing an additional 12,278 shares during the last quarter. Quadrature Capital Ltd bought a new position in GigaCloud Technology during the 4th quarter valued at about $2,803,000. Pacific Ridge Capital Partners LLC grew its holdings in GigaCloud Technology by 27.1% during the 4th quarter. Pacific Ridge Capital Partners LLC now owns 84,617 shares of the company’s stock valued at $1,548,000 after purchasing an additional 18,049 shares during the last quarter. Finally, Tidal Investments LLC purchased a new stake in GigaCloud Technology in the 1st quarter valued at about $1,731,000. 34.94% of the stock is currently owned by 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.