Insider Selling: GigaCloud Technology Inc. (NASDAQ:GCT) CEO Sells $32,230.00 in Stock

GigaCloud Technology Inc. (NASDAQ:GCT) CEO Lei Wu sold 1,000 shares of GigaCloud Technology stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $32.23, for a total value of $32,230.00. Following the transaction, the chief executive officer now directly owns 1,237,816 shares of the company’s stock, valued at approximately $39,894,809.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

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

• 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 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 value of $1,432,640.00.
• 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 shares were 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 Performance

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

GigaCloud Technology (NASDAQ:GCT) last announced its earnings results on Friday, March 15th. The company reported $0.87 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%. As a group, equities analysts predict that GigaCloud Technology Inc. will post 2.58 earnings per share for the current year.

Analyst Ratings Changes

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

Hedge Funds Weigh In On GigaCloud Technology

A number of institutional investors have recently added to or reduced their stakes in GCT. Acadian Asset Management LLC bought a new position in shares of GigaCloud Technology during the third quarter valued at $9,634,000. Bridgeway Capital Management LLC purchased a new stake in shares of GigaCloud Technology during the fourth quarter valued at $6,036,000. Verition Fund Management LLC purchased a new position in GigaCloud Technology in the fourth quarter worth about $4,613,000. New York State Common Retirement Fund purchased a new position in GigaCloud Technology in the third quarter worth about $1,895,000. Finally, Quadrature Capital Ltd purchased a new position in GigaCloud Technology in the fourth quarter worth about $2,803,000. Institutional investors own 34.94% of the company’s stock.

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.