Frank Hurst Lin Sells 15,993 Shares of GigaCloud Technology Inc. (NASDAQ:GCT) Stock

GigaCloud Technology Inc. (NASDAQ:GCT) Director Frank Hurst Lin sold 15,993 shares of the company’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 sale, the director now owns 4,588,873 shares in the company, valued at $138,308,632.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• 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 stock was sold at an average price of $33.16, for a total transaction 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 transaction 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.
• 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 transaction of $2,585,027.94.

GigaCloud Technology Price Performance

GigaCloud Technology stock opened at $29.43 on Thursday. The stock has a market cap of $1.20 billion, a price-to-earnings ratio of 11.45 and a beta of 1.87. The firm has a 50-day moving average of $33.40 and a two-hundred day moving average of $29.13. GigaCloud Technology Inc. has a 1 year low of $6.70 and a 1 year high of $45.18.

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

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Roth Mkm upped 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 started coverage on GigaCloud Technology in a research report on Wednesday, May 22nd. They issued a “buy” rating and a $69.00 price objective on the stock.

Hedge Funds Weigh In On GigaCloud Technology

Hedge funds and other institutional investors have recently made changes to their positions in the company. Empowered Funds LLC raised its holdings in shares of GigaCloud Technology by 8.1% in 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 shares of GigaCloud Technology in the 4th quarter valued at about $2,803,000. Pacific Ridge Capital Partners LLC lifted its position in shares of GigaCloud Technology by 27.1% in the 4th quarter. Pacific Ridge Capital Partners LLC now owns 84,617 shares of the company’s stock worth $1,548,000 after purchasing an additional 18,049 shares during the period. Tidal Investments LLC bought a new position in shares of GigaCloud Technology during the first quarter valued at approximately $1,731,000. Finally, Nomura Holdings Inc. purchased a new position in GigaCloud Technology during the fourth quarter valued at approximately $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.