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

GigaCloud Technology Inc. (NASDAQ:GCT) CEO Lei Wu sold 44,000 shares of the business’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $35.98, for a total transaction of $1,583,120.00. Following the transaction, the chief executive officer now directly owns 973,816 shares of the company’s stock, valued at $35,037,899.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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

• On Friday, April 19th, Lei Wu sold 14,177 shares of GigaCloud Technology stock. The shares were sold at an average price of $36.10, for a total value 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 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 Friday, April 12th, Lei Wu sold 1,000 shares of GigaCloud Technology stock. The stock was 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 transaction 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 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 value of $165.84.

GigaCloud Technology Trading Up 1.3 %

Shares of NASDAQ GCT opened at $36.36 on Friday. GigaCloud Technology Inc. has a twelve month low of $4.93 and a twelve month high of $45.18. The firm has a 50-day moving average of $33.37 and a two-hundred day moving average of $21.92. The company has a market capitalization of $1.48 billion, a price-to-earnings ratio of 15.81 and a beta of 2.26.

GigaCloud Technology (NASDAQ:GCT) last released its earnings results on Friday, March 15th. The company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.58 by $0.29. The business had revenue of $244.74 million during 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%. As a group, research analysts predict that GigaCloud Technology Inc. will post 2.98 earnings per share for the current year.

Institutional Investors Weigh In On GigaCloud Technology

A number of institutional investors and hedge funds have recently modified their holdings of GCT. Nations Financial Group Inc. IA ADV acquired a new stake in shares of GigaCloud Technology during the first quarter worth $1,201,000. SeaCrest Wealth Management LLC purchased a new position in GigaCloud Technology in the 1st quarter worth about $391,000. Harbour Capital Advisors LLC acquired a new stake in GigaCloud Technology during the 1st quarter worth about $769,000. Nomura Holdings Inc. acquired a new stake in GigaCloud Technology during the 4th quarter worth about $991,000. Finally, Quadrature Capital Ltd purchased a new stake in GigaCloud Technology during the fourth quarter valued at about $2,803,000. Institutional investors and hedge funds own 34.94% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Roth Mkm boosted their price objective on GigaCloud Technology from $28.00 to $35.00 and gave the stock 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.