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

GigaCloud Technology Inc. (NASDAQ:GCT) CEO Lei Wu sold 44,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $34.61, for a total transaction of $1,522,840.00. Following the transaction, the chief executive officer now directly owns 1,105,816 shares of the company’s stock, valued at $38,272,291.76. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• 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 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 transaction 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 transaction 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 stock was 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 stock was sold at an average price of $27.64, for a total value of $165.84.

GigaCloud Technology Trading Down 5.8 %

NASDAQ GCT opened at $34.69 on Friday. The stock has a market capitalization of $1.41 billion, a price-to-earnings ratio of 15.08 and a beta of 2.26. The stock has a 50-day moving average of $32.90 and a 200 day moving average of $20.97. GigaCloud Technology Inc. has a twelve month low of $4.93 and a twelve month high of $45.18.

GigaCloud Technology (NASDAQ:GCT) last announced its earnings results on Friday, March 15th. The company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.29. GigaCloud Technology had a return on equity of 36.40% and a net margin of 13.37%. The business had revenue of $244.74 million during the quarter, compared to the consensus estimate of $220.30 million. Equities analysts predict that GigaCloud Technology Inc. will post 2.58 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On GigaCloud Technology

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GCT. Acadian Asset Management LLC purchased a new position in GigaCloud Technology in the 3rd quarter valued at about $9,634,000. Bridgeway Capital Management LLC purchased a new position in shares of GigaCloud Technology in the fourth quarter valued at approximately $6,036,000. Verition Fund Management LLC acquired a new stake in shares of GigaCloud Technology in the fourth quarter worth approximately $4,613,000. New York State Common Retirement Fund purchased a new stake in shares of GigaCloud Technology during the third quarter worth approximately $1,895,000. Finally, Quadrature Capital Ltd acquired a new position in GigaCloud Technology in the 4th quarter valued at $2,803,000. 34.94% of the stock is owned by hedge funds and other institutional investors.

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.