GigaCloud Technology Inc. (NASDAQ:GCT) CEO Sells $31,860.00 in Stock

GigaCloud Technology Inc. (NASDAQ:GCTGet Free Report) CEO Lei Wu sold 1,000 shares of the stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $31.86, for a total value of $31,860.00. Following the transaction, the chief executive officer now directly owns 1,258,816 shares of the company’s stock, valued at $40,105,877.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

  • 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 shares were 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 shares were sold at an average price of $27.64, for a total value of $165.84.

GigaCloud Technology Price Performance

Shares of NASDAQ:GCT traded down $2.05 during trading on Friday, hitting $31.75. The company had a trading volume of 1,804,701 shares, compared to its average volume of 3,129,768. The stock has a market cap of $1.29 billion, a price-to-earnings ratio of 13.80 and a beta of 2.26. GigaCloud Technology Inc. has a one year low of $4.93 and a one year high of $45.18. The company has a fifty day simple moving average of $32.41 and a two-hundred day simple moving average of $20.25.

GigaCloud Technology (NASDAQ:GCTGet Free Report) last posted its quarterly earnings data on Friday, March 15th. The company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.29. The business had revenue of $244.74 million during the quarter, compared to analyst estimates of $220.30 million. GigaCloud Technology had a return on equity of 36.40% and a net margin of 13.37%. On average, equities research analysts anticipate that GigaCloud Technology Inc. will post 2.58 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Roth Mkm raised their price objective on GigaCloud Technology from $28.00 to $35.00 and gave the company a “buy” rating in a research note on Tuesday, April 2nd.

View Our Latest Stock Report on GCT

Institutional Investors Weigh In On GigaCloud Technology

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

About GigaCloud Technology

(Get Free Report)

GigaCloud Technology Inc provides end-to-end B2B ecommerce solutions for large parcel merchandise. 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.

See Also

Insider Buying and Selling by Quarter for GigaCloud Technology (NASDAQ:GCT)

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