Xinyan Hao Sells 1,088 Shares of GigaCloud Technology Inc. (NASDAQ:GCT) Stock

GigaCloud Technology Inc. (NASDAQ:GCTGet Free Report) COO Xinyan Hao sold 1,088 shares of the firm’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $32.36, for a total value of $35,207.68. Following the completion of the sale, the chief operating officer now directly owns 1,148,912 shares in the company, valued at approximately $37,178,792.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

GigaCloud Technology Stock Performance

NASDAQ:GCT opened at $26.91 on Friday. The firm’s 50-day moving average is $29.89 and its 200-day moving average is $18.33. The company has a market cap of $1.09 billion, a price-to-earnings ratio of 11.70 and a beta of 2.40. GigaCloud Technology Inc. has a 52-week low of $4.93 and a 52-week high of $45.18.

Institutional Investors Weigh In On GigaCloud Technology

A number of institutional investors have recently added to or reduced their stakes in the company. Morgan Stanley bought a new position in GigaCloud Technology in the fourth quarter worth $25,000. State of Wyoming bought a new position in shares of GigaCloud Technology during the 2nd quarter worth about $27,000. CWM LLC acquired a new stake in shares of GigaCloud Technology during the 4th quarter valued at about $30,000. Quarry LP bought a new stake in GigaCloud Technology in the fourth quarter valued at about $47,000. Finally, UBS Group AG acquired a new position in GigaCloud Technology in the third quarter worth about $61,000. 21.21% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Roth Mkm raised their price objective on shares of GigaCloud Technology from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Thursday, December 7th.

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About GigaCloud Technology

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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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