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

GigaCloud Technology Inc. (NASDAQ:GCT) CEO Lei Wu sold 44,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $31.87, for a total value of $1,402,280.00. Following the completion of the sale, the chief executive officer now directly owns 709,816 shares in the company, valued at $22,621,835.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Friday, April 26th, Lei Wu sold 44,000 shares of GigaCloud Technology stock. The stock was sold at an average price of $35.89, for a total value of $1,579,160.00.
• On Wednesday, April 24th, Lei Wu sold 44,000 shares of GigaCloud Technology stock. The stock was sold at an average price of $36.54, for a total value of $1,607,760.00.
• 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 stock was 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 stock was sold at an average price of $36.39, for a total value of $727,800.00.

GigaCloud Technology Stock Performance

Shares of GigaCloud Technology stock opened at $31.98 on Thursday. GigaCloud Technology Inc. has a one year low of $4.97 and a one year high of $45.18. The company has a market cap of $1.30 billion, a price-to-earnings ratio of 13.90 and a beta of 2.26. The business’s 50 day moving average price is $33.59 and its 200 day moving average price is $22.69.

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

Institutional Investors Weigh In On GigaCloud Technology

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GCT. New York State Common Retirement Fund purchased a new stake in GigaCloud Technology in the third quarter valued at $1,895,000. State of New Jersey Common Pension Fund D purchased a new stake in GigaCloud Technology in the third quarter valued at $172,000. Pacific Ridge Capital Partners LLC purchased a new stake in GigaCloud Technology in the third quarter valued at $586,000. WINTON GROUP Ltd purchased a new stake in GigaCloud Technology in the third quarter valued at $258,000. Finally, PAX Financial Group LLC purchased a new stake in GigaCloud Technology in the third quarter valued at $141,000. Hedge funds and other institutional investors own 34.94% of the company’s stock.

Analysts Set New Price Targets

Separately, Roth Mkm lifted their price objective on GigaCloud Technology from $28.00 to $35.00 and gave the stock a “buy” rating in a research report on Tuesday, April 2nd.

GigaCloud Technology Company Profile

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.