GigaCloud Technology Inc. (NASDAQ:GCT) CEO Sells $1,432,640.00 in Stock

GigaCloud Technology Inc. (NASDAQ:GCT) CEO Lei Wu sold 44,000 shares of the business’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $32.56, for a total value of $1,432,640.00. Following the completion of the transaction, the chief executive officer now directly owns 1,193,816 shares of the company’s stock, valued at approximately $38,870,648.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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

• On Wednesday, April 17th, Lei Wu sold 44,000 shares of GigaCloud Technology stock. The stock was sold at an average price of $34.61, for a total value of $1,522,840.00.
• On Friday, April 12th, Lei Wu sold 1,000 shares of GigaCloud Technology stock. The stock was sold at an average price of $32.23, for a total value of $32,230.00.
• On Wednesday, April 10th, Lei Wu sold 1,000 shares of GigaCloud Technology stock. The stock was sold at an average price of $31.86, for a total value of $31,860.00.
• On Monday, April 8th, Lei Wu sold 20,000 shares of GigaCloud Technology stock. The stock was sold at an average price of $33.07, for a total value of $661,400.00.
• On Thursday, April 4th, Lei Wu sold 20,000 shares of GigaCloud Technology stock. The shares were sold at an average price of $36.39, for a total value of $727,800.00.
• On Monday, April 1st, Lei Wu sold 1,000 shares of GigaCloud Technology stock. The shares were sold at an average price of $29.53, for a total value of $29,530.00.
• On Tuesday, March 26th, Lei Wu sold 6 shares of GigaCloud Technology stock. The shares were sold at an average price of $27.64, for a total value of $165.84.

GigaCloud Technology Stock Down 5.8 %

GigaCloud Technology stock opened at $34.69 on Friday. The business has a 50-day simple moving average of $32.90 and a two-hundred day simple moving average of $20.97. The company has a market cap of $1.41 billion, a P/E ratio of 15.08 and a beta of 2.26. GigaCloud Technology Inc. has a 52-week low of $4.93 and a 52-week high of $45.18.

GigaCloud Technology (NASDAQ:GCT) last announced its quarterly earnings data on Friday, March 15th. The company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.29. The company had revenue of $244.74 million during the quarter, compared to the consensus estimate of $220.30 million. GigaCloud Technology had a return on equity of 36.40% and a net margin of 13.37%. Research analysts anticipate that GigaCloud Technology Inc. will post 2.58 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Roth Mkm boosted their price target on GigaCloud Technology from $28.00 to $35.00 and gave the company a “buy” rating in a research note on Tuesday, April 2nd.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. SeaCrest Wealth Management LLC bought a new position in shares of GigaCloud Technology during the 1st quarter valued at approximately $391,000. Harbour Capital Advisors LLC bought a new position in shares of GigaCloud Technology during the 1st quarter valued at approximately $769,000. Nomura Holdings Inc. bought a new position in shares of GigaCloud Technology during the 4th quarter valued at approximately $991,000. Quadrature Capital Ltd bought a new position in shares of GigaCloud Technology during the 4th quarter valued at approximately $2,803,000. Finally, Tucker Asset Management LLC grew its stake in shares of GigaCloud Technology by 1,499.8% during the 4th quarter. Tucker Asset Management LLC now owns 7,999 shares of the company’s stock valued at $146,000 after acquiring an additional 7,499 shares during the period. 34.94% of the stock is currently owned by institutional investors.

GigaCloud Technology Company Profile

GigaCloud Technology Inc provides end-to-end B2B ecommerce solutions for large parcel merchandise in the United States and internationally. The company offers GigaCloud Marketplace integrates product discovery to payments to logistics tools into one easy-to-use platform. 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.