GigaCloud Technology Inc. (NASDAQ:GCT – Get Free Report) CEO Lei Wu sold 44,000 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $33.86, for a total value of $1,489,840.00. Following the sale, the chief executive officer now owns 621,816 shares in the company, valued at $21,054,689.76. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Lei Wu also recently made the following trade(s):
- On Tuesday, April 30th, Lei Wu sold 44,000 shares of GigaCloud Technology stock. The shares were sold at an average price of $31.87, for a total value of $1,402,280.00.
- On Friday, April 26th, Lei Wu sold 44,000 shares of GigaCloud Technology stock. The shares were 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 shares were 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 shares were 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 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 stock was sold at an average price of $33.07, for a total value of $661,400.00.
GigaCloud Technology Trading Up 7.4 %
Shares of GCT opened at $37.27 on Monday. The firm has a market cap of $1.52 billion, a price-to-earnings ratio of 16.20 and a beta of 1.99. The stock has a 50 day moving average of $33.68 and a 200-day moving average of $23.16. GigaCloud Technology Inc. has a 52 week low of $4.97 and a 52 week high of $45.18.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GCT. Acadian Asset Management LLC acquired a new position in GigaCloud Technology during the 3rd quarter valued at approximately $9,634,000. New York State Common Retirement Fund acquired a new position in GigaCloud Technology during the 3rd quarter valued at approximately $1,895,000. Quadrature Capital Ltd acquired a new position in GigaCloud Technology during the 4th quarter valued at approximately $2,803,000. Pacific Ridge Capital Partners LLC acquired a new position in GigaCloud Technology during the 3rd quarter valued at approximately $586,000. Finally, Nomura Holdings Inc. acquired a new position in GigaCloud Technology during the 4th quarter valued at approximately $991,000. Institutional investors and hedge funds own 34.94% of the company’s stock.
Analysts Set New Price Targets
Separately, Roth Mkm lifted their target price on GigaCloud Technology from $28.00 to $35.00 and gave the stock a “buy” rating in a research report on Tuesday, April 2nd.
Get Our Latest Stock Analysis on GCT
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.
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