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 the stock in a transaction that occurred on Monday, April 15th. The shares were 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 owns 1,193,816 shares in the company, valued at $38,870,648.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• 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 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 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 0.3 %

Shares of GigaCloud Technology stock traded down $0.12 during trading on Wednesday, hitting $34.97. 2,358,121 shares of the stock were exchanged, compared to its average volume of 3,124,260. The stock has a market capitalization of $1.42 billion, a price-to-earnings ratio of 14.95 and a beta of 2.26. The company has a fifty day moving average price of $32.50 and a 200-day moving average price of $20.58. GigaCloud Technology Inc. has a 1-year low of $4.93 and a 1-year high of $45.18.

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

Institutional Trading of GigaCloud Technology

A number of institutional investors and hedge funds have recently made changes to their positions in GCT. Acadian Asset Management LLC acquired a new position in GigaCloud Technology during the 3rd quarter worth approximately $9,634,000. Bridgeway Capital Management LLC acquired a new position in GigaCloud Technology during the 4th quarter worth approximately $6,036,000. Verition Fund Management LLC acquired a new position in GigaCloud Technology during the 4th quarter worth approximately $4,613,000. New York State Common Retirement Fund acquired a new position in GigaCloud Technology during the 3rd quarter worth approximately $1,895,000. Finally, Quadrature Capital Ltd acquired a new position in GigaCloud Technology during the 4th quarter worth approximately $2,803,000. Institutional investors own 34.94% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Roth Mkm raised their price objective 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.

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.