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

GigaCloud Technology Inc. (NASDAQ:GCT) CEO Lei Wu sold 20,000 shares of the business’s stock in a transaction on Wednesday, January 14th. The shares were sold at an average price of $40.94, for a total transaction of $818,800.00. Following the completion of the sale, the chief executive officer directly owned 740,000 shares in the company, valued at $30,295,600. This trade represents a 2.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Friday, January 16th, Lei Wu sold 20,000 shares of GigaCloud Technology stock. The stock was sold at an average price of $41.34, for a total transaction of $826,800.00.
• On Monday, January 12th, Lei Wu sold 20,000 shares of GigaCloud Technology stock. The stock was sold at an average price of $43.39, for a total transaction of $867,800.00.
• On Friday, January 9th, Lei Wu sold 20,000 shares of GigaCloud Technology stock. The shares were sold at an average price of $42.08, for a total value of $841,600.00.
• On Wednesday, January 7th, Lei Wu sold 20,000 shares of GigaCloud Technology stock. The stock was sold at an average price of $42.36, for a total value of $847,200.00.

GigaCloud Technology Trading Down 2.8%

GCT stock traded down $1.17 during trading on Friday, hitting $40.41. The company had a trading volume of 382,902 shares, compared to its average volume of 430,149. The company has a fifty day moving average price of $38.16 and a two-hundred day moving average price of $30.58. GigaCloud Technology Inc. has a fifty-two week low of $11.17 and a fifty-two week high of $44.71. The company has a market cap of $1.50 billion, a P/E ratio of 12.10 and a beta of 2.28.

GigaCloud Technology (NASDAQ:GCT) last issued its earnings results on Thursday, November 6th. The company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.65 by $0.34. GigaCloud Technology had a net margin of 10.62% and a return on equity of 30.43%. The company had revenue of $332.64 million for the quarter, compared to the consensus estimate of $300.96 million. During the same quarter in the previous year, the company earned $1.15 EPS. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. On average, analysts expect that GigaCloud Technology Inc. will post 3.1 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On GigaCloud Technology

Several institutional investors have recently modified their holdings of GCT. Jones Financial Companies Lllp raised its stake in shares of GigaCloud Technology by 184.6% during the third quarter. Jones Financial Companies Lllp now owns 908 shares of the company’s stock worth $27,000 after buying an additional 589 shares during the last quarter. Quarry LP bought a new position in GigaCloud Technology in the third quarter valued at approximately $29,000. Larson Financial Group LLC acquired a new stake in GigaCloud Technology during the 3rd quarter worth $30,000. Caitong International Asset Management Co. Ltd acquired a new stake in GigaCloud Technology during the 3rd quarter worth $30,000. Finally, Ameritas Advisory Services LLC bought a new stake in shares of GigaCloud Technology during the 2nd quarter valued at $35,000. Institutional investors and hedge funds own 34.94% of the company’s stock.

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.