GigaCloud Technology (NASDAQ:GCT) CEO Lei Wu Sells 70,000 Shares

GigaCloud Technology Inc. (NASDAQ:GCT) CEO Lei Wu sold 70,000 shares of the company’s stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $45.28, for a total value of $3,169,600.00. Following the completion of the sale, the chief executive officer owned 608,090 shares in the company, valued at approximately $27,534,315.20. This represents a 10.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Monday, March 2nd, Lei Wu sold 30,000 shares of GigaCloud Technology stock. The stock was sold at an average price of $42.83, for a total transaction of $1,284,900.00.
• On Friday, February 27th, Lei Wu sold 60,000 shares of GigaCloud Technology stock. The shares were sold at an average price of $43.57, for a total transaction of $2,614,200.00.
• On Thursday, January 22nd, Lei Wu sold 20,000 shares of GigaCloud Technology stock. The shares were sold at an average price of $40.78, for a total value of $815,600.00.
• On Wednesday, January 21st, Lei Wu sold 210 shares of GigaCloud Technology stock. The stock was sold at an average price of $40.26, for a total value of $8,454.60.
• On Tuesday, January 20th, Lei Wu sold 1,700 shares of GigaCloud Technology stock. The stock was sold at an average price of $40.01, for a total transaction of $68,017.00.
• On Friday, January 16th, Lei Wu sold 20,000 shares of GigaCloud Technology stock. The shares were sold at an average price of $41.34, for a total transaction of $826,800.00.
• On Wednesday, January 14th, Lei Wu sold 20,000 shares of GigaCloud Technology stock. The stock was sold at an average price of $40.94, for a total transaction of $818,800.00.
• On Monday, January 12th, Lei Wu sold 20,000 shares of GigaCloud Technology stock. The shares were 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 transaction 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 transaction of $847,200.00.

GigaCloud Technology Stock Down 3.0%

Shares of NASDAQ:GCT traded down $1.33 during trading on Monday, reaching $43.01. 994,909 shares of the company’s stock traded hands, compared to its average volume of 619,576. GigaCloud Technology Inc. has a fifty-two week low of $11.17 and a fifty-two week high of $48.00. The company has a 50-day simple moving average of $39.49 and a 200-day simple moving average of $34.11. The firm has a market cap of $1.59 billion, a PE ratio of 12.25 and a beta of 2.24.

GigaCloud Technology (NASDAQ:GCT) last posted its quarterly earnings data on Thursday, February 26th. The company reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.39. The business had revenue of $362.75 million during the quarter, compared to analysts’ expectations of $332.33 million. GigaCloud Technology had a return on equity of 30.74% and a net margin of 10.65%.The business’s revenue was up 22.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.76 earnings per share. On average, equities research analysts forecast that GigaCloud Technology Inc. will post 3.1 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on GCT. Wall Street Zen raised shares of GigaCloud Technology from a “buy” rating to a “strong-buy” rating in a report on Saturday. Weiss Ratings upgraded shares of GigaCloud Technology from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, January 27th. Finally, Zacks Research cut GigaCloud Technology from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 16th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, GigaCloud Technology has an average rating of “Moderate Buy” and an average target price of $24.00.

Institutional Investors Weigh In On GigaCloud Technology

Hedge funds have recently bought and sold shares of the stock. Nordea Investment Management AB acquired a new stake in GigaCloud Technology in the third quarter valued at approximately $3,852,000. Hussman Strategic Advisors Inc. purchased a new stake in shares of GigaCloud Technology in the 3rd quarter valued at approximately $3,578,000. Teacher Retirement System of Texas acquired a new stake in shares of GigaCloud Technology in the 3rd quarter valued at $952,000. Inspire Investing LLC acquired a new stake in shares of GigaCloud Technology in the 3rd quarter valued at $1,040,000. Finally, Ethos Financial Group LLC lifted its position in shares of GigaCloud Technology by 53.5% during the 2nd quarter. Ethos Financial Group LLC now owns 62,515 shares of the company’s stock worth $1,237,000 after purchasing an additional 21,798 shares during the last quarter. Institutional investors and hedge funds own 34.94% of the company’s stock.

About GigaCloud Technology

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.