Lei Wu Sells 1,000 Shares of GigaCloud Technology Inc. (NASDAQ:GCT) Stock

GigaCloud Technology Inc. (NASDAQ:GCT) CEO Lei Wu sold 1,000 shares of GigaCloud Technology stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $32.23, for a total transaction of $32,230.00. Following the completion of the transaction, the chief executive officer now directly owns 1,237,816 shares in the company, valued at approximately $39,894,809.68. The sale 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 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 transaction 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 transaction of $1,432,640.00.
• 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 transaction 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 transaction 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 transaction 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 transaction 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 transaction of $165.84.

GigaCloud Technology Price Performance

GCT stock opened at $36.81 on Friday. The firm’s fifty day simple moving average is $32.76 and its 200-day simple moving average is $20.86. The company has a market capitalization of $1.50 billion, a P/E ratio of 16.00 and a beta of 2.26. GigaCloud Technology Inc. has a 12 month low of $4.93 and a 12 month high of $45.18.

GigaCloud Technology (NASDAQ:GCT) last released its quarterly earnings data on Friday, March 15th. The company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.58 by $0.29. The business had revenue of $244.74 million for the quarter, compared to the consensus estimate of $220.30 million. GigaCloud Technology had a net margin of 13.37% and a return on equity of 36.40%. As a group, sell-side analysts forecast that GigaCloud Technology Inc. will post 2.58 earnings per share for the current year.

Institutional Trading of GigaCloud Technology

Several large investors have recently made changes to their positions in the business. SeaCrest Wealth Management LLC purchased a new stake in shares of GigaCloud Technology in the 1st quarter valued at $391,000. Harbour Capital Advisors LLC purchased a new stake in shares of GigaCloud Technology in the 1st quarter valued at $769,000. Nomura Holdings Inc. purchased a new stake in shares of GigaCloud Technology in the 4th quarter valued at $991,000. Quadrature Capital Ltd acquired a new position in shares of GigaCloud Technology in the 4th quarter valued at $2,803,000. Finally, Tucker Asset Management LLC lifted its stake in shares of GigaCloud Technology by 1,499.8% in the 4th quarter. Tucker Asset Management LLC now owns 7,999 shares of the company’s stock valued at $146,000 after purchasing an additional 7,499 shares during the period. 34.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Roth Mkm boosted their target price on shares of 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.