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

Posted by Editorial Team on May 8th, 2024

GigaCloud Technology Inc. (NASDAQ:GCT – Get Free Report) CEO Lei Wu sold 44,000 shares of the stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $40.21, for a total transaction of $1,769,240.00. Following the transaction, the chief executive officer now directly owns 533,816 shares of the company’s stock, valued at approximately $21,464,741.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

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

On Thursday, May 2nd, Lei Wu sold 44,000 shares of GigaCloud Technology stock. The stock was sold at an average price of $33.86, for a total transaction of $1,489,840.00.
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 stock was sold at an average price of $35.89, for a total transaction 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 transaction of $1,607,760.00.
On Monday, April 22nd, Lei Wu sold 44,000 shares of GigaCloud Technology stock. The stock was sold at an average price of $35.98, for a total transaction 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 transaction of $1,522,840.00.
On Monday, April 15th, Lei Wu sold 44,000 shares of GigaCloud Technology stock. The stock was 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 shares were 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 shares were sold at an average price of $31.86, for a total value of $31,860.00.

GigaCloud Technology Stock Down 2.5 %

Shares of GigaCloud Technology stock opened at $40.09 on Wednesday. GigaCloud Technology Inc. has a 52-week low of $5.00 and a 52-week high of $45.18. The company has a market capitalization of $1.64 billion, a P/E ratio of 17.43 and a beta of 1.99. The company has a 50 day moving average of $33.94 and a 200 day moving average of $23.61.

GigaCloud Technology (NASDAQ:GCT – Get Free Report) last issued its earnings results on Friday, March 15th. The company reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.29. The firm had revenue of $244.74 million during the quarter, compared to the consensus estimate of $220.30 million. GigaCloud Technology had a net margin of 13.37% and a return on equity of 36.40%. As a group, research analysts anticipate that GigaCloud Technology Inc. will post 2.98 earnings per share for the current fiscal year.

Institutional Investors Weigh In On GigaCloud Technology

Institutional investors have recently added to or reduced their stakes in the business. Acadian Asset Management LLC acquired a new stake in GigaCloud Technology during the third quarter worth approximately $9,634,000. New York State Common Retirement Fund acquired a new stake in GigaCloud Technology during the 3rd quarter worth $1,895,000. Quadrature Capital Ltd purchased a new stake in GigaCloud Technology in the fourth quarter valued at $2,803,000. Pacific Ridge Capital Partners LLC acquired a new position in GigaCloud Technology in the third quarter valued at $586,000. Finally, Nomura Holdings Inc. acquired a new position in GigaCloud Technology in the fourth quarter valued at $991,000. Hedge funds and other institutional investors own 34.94% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Get Our Latest Stock Report on GigaCloud Technology

About GigaCloud Technology

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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.