GigaCloud Technology Inc. (NASDAQ:GCT) CEO Lei Wu Sells 1,000 Shares of Stock

GigaCloud Technology Inc. (NASDAQ:GCTGet Free Report) CEO Lei Wu sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $29.53, for a total transaction of $29,530.00. Following the completion of the transaction, the chief executive officer now directly owns 1,248,994 shares of the company’s stock, valued at approximately $36,882,792.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Lei Wu also recently made the following trade(s):

  • On Tuesday, March 26th, Lei Wu sold 6 shares of GigaCloud Technology stock. The stock was sold at an average price of $27.64, for a total transaction of $165.84.

GigaCloud Technology Trading Up 7.2 %

Shares of GCT stock opened at $35.65 on Thursday. The business’s fifty day simple moving average is $31.14 and its 200-day simple moving average is $19.20. The company has a market cap of $1.45 billion, a PE ratio of 15.50 and a beta of 2.26. GigaCloud Technology Inc. has a 12-month low of $4.93 and a 12-month high of $45.18.

Analyst Upgrades and Downgrades

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

Check Out Our Latest Analysis on GCT

Hedge Funds Weigh In On GigaCloud Technology

Large investors have recently made changes to their positions in the business. Morgan Stanley purchased a new stake in shares of GigaCloud Technology during the fourth quarter valued at $25,000. State of Wyoming purchased a new stake in shares of GigaCloud Technology during the second quarter valued at $27,000. CWM LLC purchased a new stake in shares of GigaCloud Technology during the fourth quarter valued at $30,000. Quarry LP purchased a new stake in shares of GigaCloud Technology during the fourth quarter valued at $47,000. Finally, UBS Group AG purchased a new stake in shares of GigaCloud Technology during the third quarter valued at $61,000. 34.94% of the stock is owned by institutional investors and hedge funds.

About GigaCloud Technology

(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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