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 GigaCloud Technology stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $33.86, for a total transaction of $1,489,840.00. Following the completion of the transaction, the chief executive officer now owns 621,816 shares in the company, valued at approximately $21,054,689.76. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• 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 transaction of $1,402,280.00.
• On Friday, April 26th, Lei Wu sold 44,000 shares of GigaCloud Technology stock. The shares were sold at an average price of $35.89, for a total transaction 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 shares were 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 shares were 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 shares were sold at an average price of $32.56, for a total transaction 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 transaction 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.

GigaCloud Technology Price Performance

NASDAQ:GCT opened at $37.27 on Friday. GigaCloud Technology Inc. has a one year low of $4.97 and a one year high of $45.18. The company’s 50-day simple moving average is $33.68 and its 200 day simple moving average is $23.06. The firm has a market capitalization of $1.52 billion, a P/E ratio of 16.20 and a beta of 1.99.

GigaCloud Technology (NASDAQ:GCT) last posted its quarterly earnings data on Friday, March 15th. The company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.58 by $0.29. GigaCloud Technology had a net margin of 13.37% and a return on equity of 36.40%. The business had revenue of $244.74 million for the quarter, compared to analyst estimates of $220.30 million. On average, equities research analysts expect that GigaCloud Technology Inc. will post 2.98 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Acadian Asset Management LLC purchased a new position in GigaCloud Technology in the third quarter worth about $9,634,000. New York State Common Retirement Fund purchased a new position in shares of GigaCloud Technology during the third quarter valued at approximately $1,895,000. Quadrature Capital Ltd purchased a new position in shares of GigaCloud Technology during the fourth quarter valued at approximately $2,803,000. Pacific Ridge Capital Partners LLC raised its holdings in shares of GigaCloud Technology by 27.1% during the fourth quarter. Pacific Ridge Capital Partners LLC now owns 84,617 shares of the company’s stock valued at $1,548,000 after purchasing an additional 18,049 shares during the last quarter. Finally, Nomura Holdings Inc. purchased a new position in shares of GigaCloud Technology during the fourth quarter valued at approximately $991,000. 34.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Roth Mkm lifted 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.