Lei Wu Sells 40,000 Shares of GigaCloud Technology (NASDAQ:GCT) Stock

GigaCloud Technology Inc. (NASDAQ:GCT) CEO Lei Wu sold 40,000 shares of the company’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $44.08, for a total transaction of $1,763,200.00. Following the transaction, the chief executive officer owned 420,000 shares in the company, valued at approximately $18,513,600. The trade was a 8.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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

• On Thursday, March 5th, Lei Wu sold 30,000 shares of GigaCloud Technology stock. The shares were sold at an average price of $43.11, for a total transaction of $1,293,300.00.
• On Tuesday, March 3rd, Lei Wu sold 58,090 shares of GigaCloud Technology stock. The stock was sold at an average price of $40.99, for a total transaction of $2,381,109.10.
• 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, February 26th, Lei Wu sold 70,000 shares of GigaCloud Technology stock. The stock was sold at an average price of $45.28, for a total value of $3,169,600.00.
• On Thursday, January 22nd, Lei Wu sold 20,000 shares of GigaCloud Technology stock. The stock was 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 shares were 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 value 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 value of $826,800.00.
• On Wednesday, January 14th, Lei Wu sold 20,000 shares of GigaCloud Technology stock. The shares were sold at an average price of $40.94, for a total value of $818,800.00.

GigaCloud Technology Stock Performance

GCT traded down $0.74 during mid-day trading on Thursday, reaching $43.66. 810,108 shares of the stock were exchanged, compared to its average volume of 641,356. The company has a 50 day moving average price of $39.68 and a two-hundred day moving average price of $34.32. The stock has a market capitalization of $1.62 billion, a PE ratio of 12.06 and a beta of 2.24. GigaCloud Technology Inc. has a 1 year low of $11.17 and a 1 year high of $48.00.

GigaCloud Technology (NASDAQ:GCT) last released its quarterly earnings results on Thursday, February 26th. The company reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.39. GigaCloud Technology had a net margin of 10.65% and a return on equity of 30.74%. The company had revenue of $362.75 million for the quarter, compared to analyst estimates of $332.33 million. During the same period last year, the firm earned $0.76 earnings per share. The firm’s revenue was up 22.6% on a year-over-year basis. Sell-side analysts expect that GigaCloud Technology Inc. will post 3.1 EPS for the current fiscal year.

Wall Street Analyst Weigh In

GCT has been the subject of a number of research analyst reports. Wall Street Zen raised GigaCloud Technology from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 28th. Weiss Ratings upgraded GigaCloud Technology from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, January 27th. Finally, Zacks Research downgraded shares of GigaCloud Technology from a “strong-buy” rating to a “hold” rating in a report on Friday, January 16th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $33.00.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Ameritas Investment Partners Inc. grew its holdings in shares of GigaCloud Technology by 17.6% during the second quarter. Ameritas Investment Partners Inc. now owns 2,705 shares of the company’s stock valued at $54,000 after buying an additional 405 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in GigaCloud Technology by 25.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,372 shares of the company’s stock valued at $47,000 after purchasing an additional 483 shares during the last quarter. SG Americas Securities LLC boosted its stake in GigaCloud Technology by 10.2% during the 4th quarter. SG Americas Securities LLC now owns 5,249 shares of the company’s stock valued at $206,000 after purchasing an additional 485 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in shares of GigaCloud Technology by 184.6% in the 3rd quarter. Jones Financial Companies Lllp now owns 908 shares of the company’s stock worth $27,000 after purchasing an additional 589 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of GigaCloud Technology by 14.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,853 shares of the company’s stock worth $166,000 after purchasing an additional 759 shares during the last quarter. 34.94% of the stock is owned by hedge funds and other institutional investors.

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.