GigaCloud Technology (NASDAQ:GCT) Insider Marshall Bernes Sells 4,497 Shares of Stock

GigaCloud Technology Inc. (NASDAQ:GCT) insider Marshall Bernes sold 4,497 shares of the company’s stock in a transaction dated Thursday, September 24th. The shares were sold at an average price of $53.58, for a total transaction of $240,949.26. Following the completion of the sale, the insider directly owned 20,950 shares in the company, valued at $1,122,501. This trade represents a 17.67% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Marshall Bernes also recently made the following trade(s):

• On Friday, September 25th, Marshall Bernes sold 13,800 shares of GigaCloud Technology stock. The stock was sold at an average price of $54.31, for a total transaction of $749,478.00.
• On Tuesday, September 22nd, Marshall Bernes sold 15,703 shares of GigaCloud Technology stock. The stock was sold at an average price of $53.58, for a total value of $841,366.74.
• On Monday, September 21st, Marshall Bernes sold 12,000 shares of GigaCloud Technology stock. The shares were sold at an average price of $53.47, for a total value of $641,640.00.
• On Thursday, August 13th, Marshall Bernes sold 10,000 shares of GigaCloud Technology stock. The shares were sold at an average price of $53.00, for a total value of $530,000.00.
• On Monday, August 10th, Marshall Bernes sold 5,000 shares of GigaCloud Technology stock. The stock was sold at an average price of $51.88, for a total value of $259,400.00.

GigaCloud Technology Stock Down 2.5%

NASDAQ GCT opened at $52.62 on Tuesday. GigaCloud Technology Inc. has a fifty-two week low of $25.39 and a fifty-two week high of $56.27. The stock has a market cap of $1.88 billion, a price-to-earnings ratio of 12.44 and a beta of 1.65. The business has a fifty day moving average of $49.17 and a 200-day moving average of $42.70.

GigaCloud Technology (NASDAQ:GCT) last issued its quarterly earnings data on Thursday, August 6th. The company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.26. The business had revenue of $411.64 million for the quarter, compared to the consensus estimate of $380.63 million. GigaCloud Technology had a return on equity of 31.42% and a net margin of 10.65%. As a group, analysts anticipate that GigaCloud Technology Inc. will post 4.18 EPS for the current year.

Wall Street Analysts Forecast Growth

GCT has been the subject of several analyst reports. Wall Street Zen upgraded GigaCloud Technology from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Weiss Ratings raised shares of GigaCloud Technology from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy”.

Institutional Trading of GigaCloud Technology

Institutional investors have recently modified their holdings of the company. KBC Group NV acquired a new position in GigaCloud Technology during the first quarter valued at approximately $1,740,000. Sei Investments Co. acquired a new stake in shares of GigaCloud Technology in the first quarter worth $2,786,000. Cetera Investment Advisers raised its stake in shares of GigaCloud Technology by 55.2% in the 1st quarter. Cetera Investment Advisers now owns 53,180 shares of the company’s stock valued at $2,413,000 after acquiring an additional 18,914 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of GigaCloud Technology in the 2nd quarter valued at $766,000. Finally, Renaissance Technologies LLC acquired a new position in shares of GigaCloud Technology during the 1st quarter valued at $3,576,000. Hedge funds and other institutional investors own 34.94% of the company’s stock.

GigaCloud Technology Company Profile

GigaCloud Technology Inc operates a business-to-business e-commerce platform focused on large-parcel merchandise. Its GigaCloud Marketplace connects manufacturers, primarily in Asia, with resellers and retailers in North America, Europe and other markets. The platform is designed for products such as furniture, appliances, fitness equipment and other bulky consumer goods that can be more complex to ship and sell through traditional e-commerce channels.

In addition to facilitating transactions, GigaCloud provides integrated services intended to support the order lifecycle, including payments, warehousing, international freight, delivery coordination and last-mile logistics.