GigaCloud Technology Inc. (NASDAQ:GCT) CEO Lei Wu Sells 44,000 Shares

GigaCloud Technology Inc. (NASDAQ:GCT) CEO Lei Wu sold 44,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $36.54, for a total value of $1,607,760.00. Following the transaction, the chief executive officer now directly owns 885,816 shares in the company, valued at approximately $32,367,716.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• 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 value of $1,583,120.00.
• On Friday, April 19th, Lei Wu sold 14,177 shares of GigaCloud Technology stock. The stock was sold at an average price of $36.10, for a total value of $511,789.70.
• On Wednesday, April 17th, Lei Wu sold 44,000 shares of GigaCloud Technology stock. The stock was sold at an average price of $34.61, for a total value of $1,522,840.00.
• On Monday, April 15th, Lei Wu sold 44,000 shares of GigaCloud Technology stock. The stock was sold at an average price of $32.56, for a total value of $1,432,640.00.
• On Friday, April 12th, Lei Wu sold 1,000 shares of GigaCloud Technology stock. The stock was sold at an average price of $32.23, for a total value of $32,230.00.
• On Wednesday, April 10th, Lei Wu sold 1,000 shares of GigaCloud Technology stock. The stock was sold at an average price of $31.86, for a total value 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 value of $661,400.00.
• On Thursday, April 4th, Lei Wu sold 20,000 shares of GigaCloud Technology stock. The shares were sold at an average price of $36.39, for a total value of $727,800.00.
• On Monday, April 1st, Lei Wu sold 1,000 shares of GigaCloud Technology stock. The shares were sold at an average price of $29.53, for a total value of $29,530.00.
• On Tuesday, March 26th, Lei Wu sold 6 shares of GigaCloud Technology stock. The shares were sold at an average price of $27.64, for a total value of $165.84.

GigaCloud Technology Stock Performance

NASDAQ:GCT opened at $35.35 on Friday. The stock has a fifty day moving average price of $33.39 and a 200-day moving average price of $22.10. The company has a market cap of $1.44 billion, a price-to-earnings ratio of 15.37 and a beta of 2.26. GigaCloud Technology Inc. has a fifty-two week low of $4.93 and a fifty-two week high of $45.18.

GigaCloud Technology (NASDAQ:GCT) last released its earnings results on Friday, March 15th. The company reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.29. The firm had revenue of $244.74 million during the quarter, compared to the consensus estimate of $220.30 million. GigaCloud Technology had a return on equity of 36.40% and a net margin of 13.37%. Research analysts predict that GigaCloud Technology Inc. will post 2.98 EPS for the current fiscal year.

Institutional Trading of GigaCloud Technology

A number of institutional investors have recently modified their holdings of GCT. Nations Financial Group Inc. IA ADV bought a new stake in shares of GigaCloud Technology during the 1st quarter worth $1,201,000. SeaCrest Wealth Management LLC bought a new stake in shares of GigaCloud Technology during the 1st quarter worth $391,000. Harbour Capital Advisors LLC bought a new stake in shares of GigaCloud Technology during the 1st quarter worth $769,000. Nomura Holdings Inc. bought a new stake in shares of GigaCloud Technology during the 4th quarter worth $991,000. Finally, Quadrature Capital Ltd bought a new stake in shares of GigaCloud Technology during the 4th quarter worth $2,803,000. 34.94% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Roth Mkm boosted their price target on GigaCloud Technology from $28.00 to $35.00 and gave the company a “buy” rating in a research note on Tuesday, April 2nd.

About GigaCloud Technology

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.