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

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

GigaCloud Technology Stock Performance

NASDAQ GCT traded down $0.03 on Monday, hitting $30.39. 147,335 shares of the stock were exchanged, compared to its average volume of 2,822,947. The stock has a fifty day moving average price of $33.18 and a two-hundred day moving average price of $29.46. The firm has a market capitalization of $1.24 billion, a P/E ratio of 11.84 and a beta of 1.81. GigaCloud Technology Inc. has a 52-week low of $6.70 and a 52-week high of $45.18.

GigaCloud Technology (NASDAQ:GCT) last posted its quarterly earnings data on Thursday, May 9th. The company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.51 by $0.33. The company had revenue of $251.08 million during the quarter, compared to analyst estimates 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 in the previous year, the firm earned $0.39 earnings per share. Sell-side analysts expect that GigaCloud Technology Inc. will post 3.25 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Roth Mkm raised their target price on shares of GigaCloud Technology from $28.00 to $35.00 and gave the company a “buy” rating in a report on Tuesday, April 2nd. Maxim Group initiated coverage on shares of GigaCloud Technology in a report on Wednesday, May 22nd. They issued a “buy” rating and a $69.00 target price for the company.

Institutional Trading of GigaCloud Technology

Several institutional investors and hedge funds have recently made changes to their positions in GCT. Quadrature Capital Ltd bought a new stake in shares of GigaCloud Technology during the fourth quarter worth $2,803,000. Tidal Investments LLC bought a new stake in shares of GigaCloud Technology during the first quarter worth $1,731,000. Nomura Holdings Inc. bought a new stake in shares of GigaCloud Technology in the fourth quarter valued at about $991,000. Rock Creek Group LP bought 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 stake in shares of GigaCloud Technology in the first quarter valued at about $1,212,000. 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.