GigaCloud Technology Inc. (NASDAQ:GCT) CEO Lei Wu Sells 62,000 Shares

GigaCloud Technology Inc. (NASDAQ:GCT) CEO Lei Wu sold 62,000 shares of the firm’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $38.77, for a total transaction of $2,403,740.00. Following the completion of the sale, the chief executive officer now directly owns 409,816 shares in the company, valued at approximately $15,888,566.32. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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

• On Monday, May 6th, Lei Wu sold 44,000 shares of GigaCloud Technology stock. The shares were sold at an average price of $40.21, for a total value of $1,769,240.00.
• 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 value of $1,489,840.00.
• On Tuesday, April 30th, Lei Wu sold 44,000 shares of GigaCloud Technology stock. The shares were sold at an average price of $31.87, for a total value 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 value of $1,579,160.00.
• On Wednesday, April 24th, Lei Wu sold 44,000 shares of GigaCloud Technology stock. The shares were 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 shares were 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 value 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 value of $32,230.00.

GigaCloud Technology Stock Up 1.5 %

GCT traded up $0.58 during trading on Thursday, hitting $39.72. The company’s stock had a trading volume of 5,355,585 shares, compared to its average volume of 3,078,939. The business’s 50 day simple moving average is $34.09 and its 200-day simple moving average is $23.83. The firm has a market cap of $1.62 billion, a PE ratio of 17.27 and a beta of 1.99. GigaCloud Technology Inc. has a one year low of $5.11 and a one year high of $45.18.

GigaCloud Technology (NASDAQ:GCT) last announced 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 company had revenue of $244.74 million for the quarter, compared to analysts’ expectations of $220.30 million. GigaCloud Technology had a return on equity of 36.40% and a net margin of 13.37%. Equities research analysts expect that GigaCloud Technology Inc. will post 2.98 EPS for the current fiscal year.

Analyst Ratings Changes

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

Institutional Investors Weigh In On GigaCloud Technology

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. CWM LLC bought a new stake in GigaCloud Technology during the fourth quarter valued at about $30,000. Quarry LP purchased a new position in GigaCloud Technology in the 4th quarter worth approximately $47,000. PAX Financial Group LLC bought a new position in GigaCloud Technology in the 3rd quarter worth approximately $141,000. Tucker Asset Management LLC boosted its stake in GigaCloud Technology by 1,499.8% in the 4th quarter. Tucker Asset Management LLC now owns 7,999 shares of the company’s stock worth $146,000 after purchasing an additional 7,499 shares during the period. Finally, State of New Jersey Common Pension Fund D purchased a new stake in GigaCloud Technology during the 3rd quarter valued at approximately $172,000. 34.94% of the stock is owned by hedge funds and other institutional investors.

About GigaCloud Technology

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.