GigaCloud Technology Inc. (NASDAQ:GCT) CEO Lei Wu Sells 1,000 Shares of Stock

GigaCloud Technology Inc. (NASDAQ:GCT) CEO Lei Wu sold 1,000 shares of the 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 completion of the transaction, the chief executive officer now directly owns 1,237,816 shares in the company, valued at approximately $39,894,809.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• 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 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 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 stock was 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 shares were sold at an average price of $27.64, for a total transaction of $165.84.

GigaCloud Technology Price Performance

GigaCloud Technology stock opened at $34.96 on Thursday. The firm’s 50 day moving average price is $32.64 and its 200-day moving average price is $20.76. GigaCloud Technology Inc. has a 1 year low of $4.93 and a 1 year high of $45.18. The stock has a market cap of $1.42 billion, a P/E ratio of 15.20 and a beta of 2.26.

GigaCloud Technology (NASDAQ:GCT) last posted its earnings results on Friday, March 15th. The company reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.29. The company had revenue of $244.74 million for 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 expect that GigaCloud Technology Inc. will post 2.58 EPS for the current year.

Wall Street Analyst Weigh In

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

Institutional Trading of GigaCloud Technology

Several hedge funds and other institutional investors have recently bought and sold shares of GCT. Morgan Stanley bought a new position in shares of GigaCloud Technology during the fourth quarter valued at approximately $25,000. State of Wyoming purchased a new stake in GigaCloud Technology in the second quarter worth $27,000. CWM LLC bought a new stake in shares of GigaCloud Technology during the fourth quarter worth $30,000. Quarry LP purchased a new stake in shares of GigaCloud Technology during the fourth quarter valued at $47,000. Finally, UBS Group AG bought a new position in shares of GigaCloud Technology in the third quarter worth about $61,000. Hedge funds and other institutional investors own 34.94% of the company’s stock.

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.