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

GigaCloud Technology Inc. (NASDAQ:GCT) CEO Lei Wu sold 44,000 shares of GigaCloud Technology stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $34.61, for a total value of $1,522,840.00. Following the sale, the chief executive officer now directly owns 1,105,816 shares in the company, valued at $38,272,291.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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

• 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.
• 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.
• 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 transaction 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 transaction 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 transaction of $29,530.00.
• 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 Price Performance

GigaCloud Technology stock opened at $36.81 on Friday. The firm has a market capitalization of $1.50 billion, a P/E ratio of 16.00 and a beta of 2.26. The stock has a fifty day moving average price of $32.76 and a two-hundred day moving average price of $20.86. GigaCloud Technology Inc. has a 52-week low of $4.93 and a 52-week high of $45.18.

GigaCloud Technology (NASDAQ:GCT) last posted its earnings results on Friday, March 15th. The company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.29. The business had revenue of $244.74 million for 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 predict that GigaCloud Technology Inc. will post 2.58 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Roth Mkm upped their price objective 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 Investors Weigh In On GigaCloud Technology

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Acadian Asset Management LLC bought a new position in shares of GigaCloud Technology in the third quarter worth about $9,634,000. Bridgeway Capital Management LLC acquired a new stake in shares of GigaCloud Technology in the fourth quarter valued at approximately $6,036,000. Verition Fund Management LLC bought a new position in GigaCloud Technology in the 4th quarter worth approximately $4,613,000. New York State Common Retirement Fund bought a new position in GigaCloud Technology in the 3rd quarter worth approximately $1,895,000. Finally, Quadrature Capital Ltd acquired a new position in GigaCloud Technology during the 4th quarter worth $2,803,000. 34.94% of the stock is owned by institutional investors and hedge funds.

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.