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 GigaCloud Technology stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $35.98, for a total value of $1,583,120.00. Following the completion of the transaction, the chief executive officer now owns 973,816 shares in the company, valued at $35,037,899.68. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

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

• On Friday, April 19th, Lei Wu sold 14,177 shares of GigaCloud Technology stock. The shares were 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 shares were 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 shares were 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 shares were 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 shares were 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 stock was 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 stock was sold at an average price of $27.64, for a total value of $165.84.

GigaCloud Technology Price Performance

GigaCloud Technology stock opened at $35.91 on Thursday. The stock has a market capitalization of $1.46 billion, a price-to-earnings ratio of 15.61 and a beta of 2.26. GigaCloud Technology Inc. has a 1-year low of $4.93 and a 1-year high of $45.18. The business has a fifty day moving average price of $33.30 and a 200-day moving average price of $21.82.

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

Wall Street Analyst Weigh In

Separately, Roth Mkm raised 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.

Institutional Trading of GigaCloud Technology

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Acadian Asset Management LLC acquired a new stake in GigaCloud Technology during the 3rd quarter worth about $9,634,000. New York State Common Retirement Fund acquired a new stake in GigaCloud Technology during the 3rd quarter worth about $1,895,000. Quadrature Capital Ltd purchased a new position in shares of GigaCloud Technology during the 4th quarter valued at about $2,803,000. Pacific Ridge Capital Partners LLC raised its stake in shares of GigaCloud Technology by 27.1% during the 4th quarter. Pacific Ridge Capital Partners LLC now owns 84,617 shares of the company’s stock valued at $1,548,000 after buying an additional 18,049 shares during the last quarter. Finally, Nomura Holdings Inc. purchased a new position in shares of GigaCloud Technology during the 4th quarter valued at about $991,000. Institutional investors and hedge funds own 34.94% of the company’s stock.

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.