GigaCloud Technology Inc. (NASDAQ:GCT) CEO Sells $1,432,640.00 in Stock

GigaCloud Technology Inc. (NASDAQ:GCT) CEO Lei Wu sold 44,000 shares of GigaCloud Technology stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $32.56, for a total transaction of $1,432,640.00. Following the completion of the transaction, the chief executive officer now directly owns 1,193,816 shares in the company, valued at approximately $38,870,648.96. 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 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 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 Trading Down 5.8 %

NASDAQ:GCT opened at $34.69 on Friday. The company has a market cap of $1.41 billion, a PE ratio of 15.08 and a beta of 2.26. GigaCloud Technology Inc. has a twelve month low of $4.93 and a twelve month high of $45.18. The company’s 50 day moving average is $32.90 and its two-hundred day moving average is $20.97.

GigaCloud Technology (NASDAQ:GCT) last released 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. The company 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, analysts expect that GigaCloud Technology Inc. will post 2.58 EPS for the current fiscal year.

Institutional Trading of GigaCloud Technology

Institutional investors and hedge funds have recently bought and sold shares of the business. PAX Financial Group LLC acquired a new stake in GigaCloud Technology during the 3rd quarter valued at approximately $141,000. Acadian Asset Management LLC acquired a new stake in GigaCloud Technology during the 3rd quarter valued at approximately $9,634,000. Ritholtz Wealth Management acquired a new stake in GigaCloud Technology during the 4th quarter valued at approximately $295,000. WINTON GROUP Ltd acquired a new stake in GigaCloud Technology during the 3rd quarter valued at approximately $258,000. Finally, New York State Common Retirement Fund acquired a new stake in GigaCloud Technology during the 3rd quarter valued at approximately $1,895,000. 34.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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.