Lei Wu Sells 14,177 Shares of GigaCloud Technology Inc. (NASDAQ:GCT) Stock

GigaCloud Technology Inc. (NASDAQ:GCT) CEO Lei Wu sold 14,177 shares of the firm’s stock in a transaction on Friday, April 19th. The stock was sold at an average price of $36.10, for a total transaction of $511,789.70. Following the completion of the sale, the chief executive officer now directly owns 1,047,639 shares in the company, valued at approximately $37,819,767.90. 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 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 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 stock was 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 transaction of $661,400.00.
• On Thursday, April 4th, Lei Wu sold 20,000 shares of GigaCloud Technology stock. The stock was 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 value 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 value of $165.84.

GigaCloud Technology Trading Down 0.2 %

Shares of NASDAQ:GCT opened at $37.00 on Wednesday. The stock has a fifty day simple moving average of $33.23 and a two-hundred day simple moving average of $21.72. GigaCloud Technology Inc. has a 12-month low of $4.93 and a 12-month high of $45.18. The stock has a market capitalization of $1.51 billion, a price-to-earnings ratio of 16.09 and a beta of 2.27.

GigaCloud Technology (NASDAQ:GCT) last issued its quarterly earnings results on Friday, March 15th. The company reported $0.87 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 36.40% and a net margin of 13.37%. As a group, equities research analysts predict that GigaCloud Technology Inc. will post 2.58 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of GCT. New York State Common Retirement Fund bought a new position in shares of GigaCloud Technology during the third quarter valued at $1,895,000. State of New Jersey Common Pension Fund D bought a new stake in shares of GigaCloud Technology during the 3rd quarter valued at $172,000. Pacific Ridge Capital Partners LLC purchased a new position in shares of GigaCloud Technology in the third quarter valued at about $586,000. WINTON GROUP Ltd purchased a new position in GigaCloud Technology in the 3rd quarter worth approximately $258,000. Finally, PAX Financial Group LLC purchased a new position in shares of GigaCloud Technology in the third quarter worth $141,000. 34.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

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.