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 company’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $31.87, for a total transaction of $1,402,280.00. Following the transaction, the chief executive officer now directly owns 709,816 shares in the company, valued at $22,621,835.92. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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

• On Thursday, May 2nd, Lei Wu sold 44,000 shares of GigaCloud Technology stock. The stock was sold at an average price of $33.86, for a total transaction of $1,489,840.00.
• On Friday, April 26th, Lei Wu sold 44,000 shares of GigaCloud Technology stock. The stock was 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 stock was 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 stock was 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 Stock Up 7.4 %

Shares of NASDAQ:GCT opened at $37.27 on Friday. GigaCloud Technology Inc. has a 52-week low of $4.97 and a 52-week high of $45.18. The company has a 50 day moving average of $33.68 and a two-hundred day moving average of $22.97. The company has a market capitalization of $1.52 billion, a price-to-earnings ratio of 16.20 and a beta of 1.99.

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 company had revenue of $244.74 million during the quarter, compared to analysts’ expectations of $220.30 million. GigaCloud Technology had a return on equity of 36.40% and a net margin of 13.37%. On average, equities analysts anticipate that GigaCloud Technology Inc. will post 2.98 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On GigaCloud Technology

Large investors have recently added to or reduced their stakes in the company. CWM LLC bought a new position in GigaCloud Technology during the fourth quarter worth $30,000. Quarry LP bought a new stake in GigaCloud Technology in the fourth quarter valued at $47,000. Tucker Asset Management LLC lifted its stake in GigaCloud Technology by 1,499.8% in the fourth quarter. Tucker Asset Management LLC now owns 7,999 shares of the company’s stock valued at $146,000 after buying an additional 7,499 shares during the last quarter. Foundations Investment Advisors LLC bought a new stake in GigaCloud Technology in the fourth quarter valued at $207,000. Finally, Avantax Advisory Services Inc. bought a new stake in GigaCloud Technology in the fourth quarter valued at $226,000. 34.94% of the stock is currently owned by institutional investors.

GigaCloud Technology Company Profile

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.