GigaCloud Technology Inc. (NASDAQ:GCT – Get Free Report) Director Frank Hurst Lin sold 81,537 shares of the company’s stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $29.83, for a total value of $2,432,248.71. Following the completion of the transaction, the director now owns 4,447,352 shares in the company, valued at approximately $132,664,510.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Frank Hurst Lin also recently made the following trade(s):
- On Thursday, June 20th, Frank Hurst Lin sold 15,993 shares of GigaCloud Technology stock. The stock was sold at an average price of $30.14, for a total value of $482,029.02.
- 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 value 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 stock was sold at an average price of $36.78, for a total transaction of $3,416,347.08.
GigaCloud Technology Trading Up 0.1 %
GigaCloud Technology stock opened at $29.43 on Thursday. The firm has a 50-day moving average of $33.40 and a 200-day moving average of $29.13. The firm has a market cap of $1.20 billion, a P/E ratio of 11.45 and a beta of 1.87. GigaCloud Technology Inc. has a 1-year low of $6.70 and a 1-year high of $45.18.
Analyst Ratings Changes
A number of research firms recently commented on GCT. Roth Mkm increased their target price on GigaCloud Technology from $28.00 to $35.00 and gave the company a “buy” rating in a research note on Tuesday, April 2nd. Maxim Group assumed coverage on GigaCloud Technology in a research note on Wednesday, May 22nd. They set a “buy” rating and a $69.00 price objective on the stock.
Read Our Latest Stock Report on GCT
Hedge Funds Weigh In On GigaCloud Technology
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Empowered Funds LLC increased its position in shares of GigaCloud Technology by 8.1% during the first quarter. Empowered Funds LLC now owns 163,510 shares of the company’s stock valued at $4,369,000 after acquiring an additional 12,278 shares in the last quarter. Quadrature Capital Ltd bought a new stake in GigaCloud Technology in the 4th quarter worth approximately $2,803,000. Pacific Ridge Capital Partners LLC raised its stake 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 buying an additional 18,049 shares during the last quarter. Tidal Investments LLC purchased a new stake in GigaCloud Technology during the 1st quarter valued at $1,731,000. Finally, Nomura Holdings Inc. purchased a new stake in GigaCloud Technology during the 4th quarter valued at $991,000. 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.
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