GigaCloud Technology Inc. (NASDAQ:GCT) Director Frank Hurst Lin Sells 40,134 Shares

GigaCloud Technology Inc. (NASDAQ:GCT) Director Frank Hurst Lin sold 40,134 shares of GigaCloud Technology stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $36.21, for a total value of $1,453,252.14. Following the transaction, the director now owns 5,394,931 shares of the company’s stock, valued at approximately $195,350,451.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• 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 value 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 value 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 value of $4,043,486.86.

GigaCloud Technology Trading Down 8.7 %

GigaCloud Technology stock opened at $32.65 on Tuesday. The firm has a market cap of $1.33 billion, a price-to-earnings ratio of 12.70 and a beta of 1.99. The stock has a fifty day simple moving average of $34.02 and a two-hundred day simple moving average of $25.36. GigaCloud Technology Inc. has a 12 month low of $5.30 and a 12 month high of $45.18.

GigaCloud Technology (NASDAQ:GCT) last issued 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. GigaCloud Technology had a return on equity of 41.24% and a net margin of 12.74%. The company had revenue of $251.08 million during the quarter, compared to analyst estimates of $235.00 million. During the same quarter in the previous year, the company posted $0.39 earnings per share. On average, equities research analysts forecast that GigaCloud Technology Inc. will post 3.25 EPS for the current fiscal year.

Institutional Trading of GigaCloud Technology

Several large investors have recently modified their holdings of the company. CWM LLC bought a new stake in shares of GigaCloud Technology in the fourth quarter worth $30,000. Quarry LP bought a new stake in shares of GigaCloud Technology in the fourth quarter worth $47,000. Tucker Asset Management LLC grew its holdings in shares of GigaCloud Technology by 1,499.8% in the fourth quarter. Tucker Asset Management LLC now owns 7,999 shares of the company’s stock worth $146,000 after acquiring an additional 7,499 shares during the period. Avantax Advisory Services Inc. grew its holdings in GigaCloud Technology by 86.3% during the first quarter. Avantax Advisory Services Inc. now owns 23,014 shares of the company’s stock valued at $615,000 after purchasing an additional 10,659 shares during the period. Finally, Foundations Investment Advisors LLC bought a new stake in GigaCloud Technology during the fourth quarter valued at about $207,000. Institutional investors own 34.94% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Roth Mkm lifted their target price on GigaCloud Technology from $28.00 to $35.00 and gave the stock a “buy” rating in a report on Tuesday, April 2nd.

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.