GigaCloud Technology Inc. (NASDAQ:GCT – Get Free Report) Director Frank Hurst Lin sold 40,134 shares of the firm’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $36.21, for a total transaction of $1,453,252.14. Following the completion of the sale, the director now owns 5,394,931 shares of the company’s stock, valued at approximately $195,350,451.51. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.
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 transaction 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 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 value of $4,043,486.86.
GigaCloud Technology Price Performance
NASDAQ GCT opened at $29.83 on Thursday. The business has a 50 day moving average price of $33.91 and a 200 day moving average price of $25.51. The company has a market capitalization of $1.22 billion, a P/E ratio of 11.61 and a beta of 1.99. GigaCloud Technology Inc. has a 1-year low of $5.40 and a 1-year high of $45.18.
Analysts Set New Price Targets
GCT has been the topic of a number of recent analyst reports. Maxim Group started coverage on GigaCloud Technology in a report on Wednesday. They set a “buy” rating and a $69.00 price objective on the stock. Roth Mkm increased their price target 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.
Check Out Our Latest Stock Analysis on GigaCloud Technology
Hedge Funds Weigh In On GigaCloud Technology
Several hedge funds have recently added to or reduced their stakes in GCT. CWM LLC acquired a new stake in shares of GigaCloud Technology in the fourth quarter valued at approximately $30,000. Quarry LP purchased a new position in GigaCloud Technology during the fourth quarter worth $47,000. PAX Financial Group LLC acquired a new position in shares of GigaCloud Technology in the third quarter worth $141,000. Tucker Asset Management LLC lifted its position 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 valued at $146,000 after acquiring an additional 7,499 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D acquired a new stake in shares of GigaCloud Technology during the third quarter valued at $172,000. 34.94% of the stock is currently owned by hedge funds and other 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.
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