GigaCloud Technology Inc. (NASDAQ:GCT) CEO Lei Wu Sells 44,000 Shares

GigaCloud Technology Inc. (NASDAQ:GCT) CEO Lei Wu sold 44,000 shares of GigaCloud Technology stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $33.86, for a total transaction of $1,489,840.00. Following the transaction, the chief executive officer now owns 621,816 shares of the company’s stock, valued at approximately $21,054,689.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Tuesday, April 30th, Lei Wu sold 44,000 shares of GigaCloud Technology stock. The stock was sold at an average price of $31.87, for a total transaction of $1,402,280.00.
• On Friday, April 26th, Lei Wu sold 44,000 shares of GigaCloud Technology stock. The shares were sold at an average price of $35.89, for a total value of $1,579,160.00.
• On Wednesday, April 24th, Lei Wu sold 44,000 shares of GigaCloud Technology stock. The stock was sold at an average price of $36.54, for a total value of $1,607,760.00.
• On Monday, April 22nd, Lei Wu sold 44,000 shares of GigaCloud Technology stock. The shares were sold at an average price of $35.98, for a total value of $1,583,120.00.
• On Friday, April 19th, Lei Wu sold 14,177 shares of GigaCloud Technology stock. The stock was sold at an average price of $36.10, for a total transaction of $511,789.70.
• 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 Monday, April 15th, Lei Wu sold 44,000 shares of GigaCloud Technology stock. The shares were sold at an average price of $32.56, for a total transaction of $1,432,640.00.
• 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 transaction 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 transaction of $31,860.00.
• On Monday, April 8th, Lei Wu sold 20,000 shares of GigaCloud Technology stock. The shares were sold at an average price of $33.07, for a total transaction of $661,400.00.

GigaCloud Technology Price Performance

NASDAQ GCT opened at $37.27 on Friday. The business’s 50-day simple moving average is $33.68 and its 200-day simple moving average is $22.97. The firm has a market capitalization of $1.52 billion, a P/E ratio of 16.20 and a beta of 1.99. GigaCloud Technology Inc. has a 1-year low of $4.97 and a 1-year high of $45.18.

GigaCloud Technology (NASDAQ:GCT) last released its quarterly earnings data on Friday, March 15th. The company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.29. The company had revenue of $244.74 million during the quarter, compared to analyst estimates of $220.30 million. GigaCloud Technology had a net margin of 13.37% and a return on equity of 36.40%. On average, equities research analysts expect that GigaCloud Technology Inc. will post 2.98 EPS for the current fiscal year.

Institutional Investors Weigh In On GigaCloud Technology

Several institutional investors and hedge funds have recently modified their holdings of GCT. CWM LLC acquired a new stake in GigaCloud Technology during the 4th quarter valued at $30,000. Quarry LP purchased a new stake in shares of GigaCloud Technology during the fourth quarter worth about $47,000. PAX Financial Group LLC acquired a new position in shares of GigaCloud Technology in the third quarter worth about $141,000. Tucker Asset Management LLC lifted its stake in shares of GigaCloud Technology by 1,499.8% in the fourth quarter. Tucker Asset Management LLC now owns 7,999 shares of the company’s stock worth $146,000 after acquiring an additional 7,499 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D acquired a new stake in GigaCloud Technology during the 3rd quarter valued at approximately $172,000. Hedge funds and other institutional investors own 34.94% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.