GigaCloud Technology Inc. (NASDAQ:GCT) CTO Xin Wan Sells 150,000 Shares

GigaCloud Technology Inc. (NASDAQ:GCTGet Free Report) CTO Xin Wan sold 150,000 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $27.26, for a total value of $4,089,000.00. Following the transaction, the chief technology officer now directly owns 947,540 shares of the company’s stock, valued at approximately $25,829,940.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

GigaCloud Technology Stock Up 8.0 %

Shares of GigaCloud Technology stock opened at $33.25 on Wednesday. GigaCloud Technology Inc. has a 12-month low of $4.93 and a 12-month high of $45.18. The stock has a market cap of $1.35 billion, a P/E ratio of 14.46 and a beta of 2.27. The business’s 50 day moving average is $30.86 and its 200-day moving average is $19.09.

Analyst Ratings Changes

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

View Our Latest Report on GCT

Institutional Investors Weigh In On GigaCloud Technology

A number of large investors have recently added to or reduced their stakes in GCT. CWM LLC bought a new position in GigaCloud Technology during the 4th quarter worth $30,000. Quarry LP bought a new position in GigaCloud Technology during the 4th quarter worth $47,000. State of Wyoming bought a new position in GigaCloud Technology during the 2nd quarter worth $27,000. Morgan Stanley bought a new position in GigaCloud Technology during the 4th quarter worth $25,000. Finally, Royal Bank of Canada bought a new position in GigaCloud Technology during the 4th quarter worth $108,000. Institutional investors own 34.94% of the company’s stock.

GigaCloud Technology Company Profile

(Get Free Report)

GigaCloud Technology Inc provides end-to-end B2B ecommerce solutions for large parcel merchandise. 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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