GigaCloud Technology (NASDAQ:GCT) Stock Price Up 0.4%

Shares of GigaCloud Technology Inc. (NASDAQ:GCT - Get Free Report) shot up 0.4% during trading on Thursday . The stock traded as high as $38.21 and last traded at $35.78. 1,990,106 shares were traded during mid-day trading, a decline of 37% from the average session volume of 3,164,312 shares. The stock had previously closed at $35.65.

Analyst Upgrades and Downgrades

Separately, Roth Mkm raised their price objective on shares of GigaCloud Technology from $28.00 to $35.00 and gave the company a "buy" rating in a research note on Tuesday.

GigaCloud Technology Price Performance

The company has a market cap of $1.37 billion, a price-to-earnings ratio of 14.60 and a beta of 2.26. The business's 50-day simple moving average is $31.34 and its 200-day simple moving average is $19.30.

Insider Transactions at GigaCloud Technology

In related news, CFO David Kwok Hei Lau sold 2,619 shares of the business's stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $30.50, for a total value of $79,879.50. Following the completion of the sale, the chief financial officer now directly owns 27,803 shares in the company, valued at $847,991.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO Lei Wu sold 1,000 shares of the business's stock in a transaction on Monday, April 1st. The shares were sold at an average price of $29.53, for a total transaction of $29,530.00. Following the transaction, the chief executive officer now directly owns 1,248,994 shares of the company's stock, valued at $36,882,792.82. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO David Kwok Hei Lau sold 2,619 shares of the business's stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $30.50, for a total transaction of $79,879.50. Following the transaction, the chief financial officer now directly owns 27,803 shares in the company, valued at $847,991.50. The disclosure for this sale can be found here. Insiders sold a total of 420,287 shares of company stock worth $11,919,335 over the last ninety days. 45.30% of the stock is currently owned by corporate insiders.

Institutional Trading of GigaCloud Technology

Institutional investors have recently added to or reduced their stakes in the stock. UBS Group AG bought a new position in GigaCloud Technology in the 3rd quarter valued at about $61,000. Marshall Wace LLP purchased a new stake in shares of GigaCloud Technology in the third quarter worth approximately $1,425,000. Geode Capital Management LLC acquired a new position in GigaCloud Technology in the fourth quarter worth approximately $102,000. Verition Fund Management LLC increased its holdings in GigaCloud Technology by 123.8% in the fourth quarter. Verition Fund Management LLC now owns 73,789 shares of the company's stock worth $420,000 after buying an additional 40,824 shares during the last quarter. Finally, Morgan Stanley acquired a new position in GigaCloud Technology during the fourth quarter valued at approximately $25,000. 34.94% of the stock is owned by institutional investors and hedge funds.

GigaCloud Technology Company Profile

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.