GigaCloud Technology (NASDAQ:GCT) CEO Lei Wu Sells 20,000 Shares of Stock

GigaCloud Technology Inc. (NASDAQ:GCT) CEO Lei Wu sold 20,000 shares of GigaCloud Technology stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $42.36, for a total transaction of $847,200.00. Following the completion of the sale, the chief executive officer owned 840,000 shares of the company’s stock, valued at approximately $35,582,400. This trade represents a 2.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

GigaCloud Technology Price Performance

NASDAQ GCT opened at $41.80 on Friday. The company has a market capitalization of $1.55 billion, a price-to-earnings ratio of 12.51 and a beta of 2.28. GigaCloud Technology Inc. has a 12 month low of $11.17 and a 12 month high of $43.85. The company’s fifty day moving average price is $36.79 and its two-hundred day moving average price is $29.80.

GigaCloud Technology (NASDAQ:GCT) last issued its earnings results on Thursday, November 6th. The company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.34. The business had revenue of $332.64 million for the quarter, compared to analyst estimates of $300.96 million. GigaCloud Technology had a net margin of 10.62% and a return on equity of 30.43%. The company’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.15 EPS. As a group, analysts anticipate that GigaCloud Technology Inc. will post 3.1 EPS for the current year.

Institutional Investors Weigh In On GigaCloud Technology

Several large investors have recently added to or reduced their stakes in GCT. SG Americas Securities LLC lifted its stake in GigaCloud Technology by 10.2% in the fourth quarter. SG Americas Securities LLC now owns 5,249 shares of the company’s stock valued at $206,000 after buying an additional 485 shares during the last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of GigaCloud Technology in the 4th quarter worth about $44,000. NorthCrest Asset Manangement LLC bought a new stake in GigaCloud Technology in the 4th quarter valued at about $565,000. Nordea Investment Management AB boosted its stake in GigaCloud Technology by 2.3% during the 4th quarter. Nordea Investment Management AB now owns 136,400 shares of the company’s stock valued at $5,386,000 after purchasing an additional 3,100 shares during the period. Finally, CWA Asset Management Group LLC bought a new position in GigaCloud Technology in the 4th quarter worth about $2,150,000. 34.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GCT has been the topic of several research reports. Weiss Ratings raised GigaCloud Technology from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, December 29th. Wall Street Zen raised shares of GigaCloud Technology from a “hold” rating to a “buy” rating in a report on Saturday, December 13th. Finally, Zacks Research raised shares of GigaCloud Technology from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 10th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $24.00.

GigaCloud Technology Company Profile

GigaCloud Technology Inc (NASDAQ:GCT) is a China-based provider of software-as-a-service (SaaS) and cloud computing solutions tailored for cross-border e-commerce. The company’s core offering, its Supply Chain Embedded E-commerce as a Service (SCEaaS) platform, integrates procurement, order management, warehousing, logistics and payment services into a unified cloud-based system. This end-to-end digital supply chain solution is designed to help small and medium-sized Chinese exporters efficiently connect with global buyers without the need to build and maintain their own infrastructure.

Through its modular, subscription-based SaaS model, GigaCloud enables merchants to scale operations on demand and minimize upfront capital expenditures.