Insider Selling: GigaCloud Technology Inc. (NASDAQ:GCT) Director Sells 15,993 Shares of Stock

GigaCloud Technology Inc. (NASDAQ:GCT) Director Frank Hurst Lin sold 15,993 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $30.14, for a total value of $482,029.02. Following the transaction, the director now directly owns 4,588,873 shares of the company’s stock, valued at approximately $138,308,632.22. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

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

• On Tuesday, June 25th, Frank Hurst Lin sold 81,537 shares of GigaCloud Technology stock. The shares were sold at an average price of $29.83, for a total value of $2,432,248.71.
• 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 shares were 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 value of $3,416,347.08.
• On Thursday, March 28th, Frank Hurst Lin sold 94,413 shares of GigaCloud Technology stock. The shares were sold at an average price of $27.38, for a total value of $2,585,027.94.

GigaCloud Technology Stock Performance

NASDAQ GCT opened at $30.12 on Friday. The company has a market capitalization of $1.23 billion, a PE ratio of 11.72 and a beta of 1.87. The business’s fifty day moving average is $33.27 and its 200 day moving average is $29.14. GigaCloud Technology Inc. has a fifty-two week low of $6.70 and a fifty-two week high of $45.18.

GigaCloud Technology (NASDAQ:GCT) last posted its quarterly earnings results on Thursday, May 9th. The company reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.33. The business had revenue of $251.08 million for the quarter, compared to analysts’ expectations of $235.00 million. GigaCloud Technology had a return on equity of 41.24% and a net margin of 12.74%. During the same period last year, the firm earned $0.39 earnings per share. On average, sell-side analysts forecast that GigaCloud Technology Inc. will post 3.25 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in GCT. Quadrature Capital Ltd purchased a new position in GigaCloud Technology in the fourth quarter worth about $2,803,000. Tidal Investments LLC purchased a new position in GigaCloud Technology in the first quarter worth about $1,731,000. Nomura Holdings Inc. purchased a new position in GigaCloud Technology in the fourth quarter worth about $991,000. Rock Creek Group LP purchased a new position in shares of GigaCloud Technology during the fourth quarter valued at approximately $927,000. Finally, Thoroughbred Financial Services LLC purchased a new position in shares of GigaCloud Technology during the first quarter valued at approximately $1,212,000. Hedge funds and other institutional investors own 34.94% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Roth Mkm raised their price target on 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 assumed coverage on GigaCloud Technology in a research note on Wednesday, May 22nd. They issued a “buy” rating and a $69.00 price target on the 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.