GigaCloud Technology Inc. (NASDAQ:GCT – Get Free Report) gapped up prior to trading on Thursday . The stock had previously closed at $26.16, but opened at $28.00. GigaCloud Technology shares last traded at $28.32, with a volume of 665,457 shares.
Wall Street Analyst Weigh In
Separately, Roth Mkm increased their price objective on shares of GigaCloud Technology from $16.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, December 7th.
View Our Latest Report on GigaCloud Technology
GigaCloud Technology Stock Performance
Insider Activity at GigaCloud Technology
In other GigaCloud Technology news, COO Xinyan Hao sold 1,088 shares of the business’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $32.36, for a total transaction of $35,207.68. Following the sale, the chief operating officer now directly owns 1,148,912 shares in the company, valued at $37,178,792.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Frank Hurst Lin sold 133,097 shares of the company’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $30.38, for a total value of $4,043,486.86. Following the completion of the transaction, the director now directly owns 5,764,302 shares of the company’s stock, valued at $175,119,494.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Xinyan Hao sold 1,088 shares of the company’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 transaction, the chief operating officer now directly owns 1,148,912 shares of the company’s stock, valued at $37,178,792.32. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 136,804 shares of company stock worth $4,158,574. Company insiders own 45.30% of the company’s stock.
Institutional Investors Weigh In On GigaCloud Technology
Large investors have recently modified their holdings of the company. CWM LLC purchased a new position in GigaCloud Technology in the fourth quarter worth $30,000. Quarry LP purchased a new stake in GigaCloud Technology in the 4th quarter valued at about $47,000. State of Wyoming purchased a new stake in GigaCloud Technology in the 2nd quarter valued at about $27,000. Morgan Stanley purchased a new stake in shares of GigaCloud Technology during the 4th quarter worth about $25,000. Finally, Royal Bank of Canada purchased a new stake in shares of GigaCloud Technology during the 4th quarter worth about $108,000. 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.
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