GigaCloud Technology (NASDAQ:GCT) CEO Sells $1,240,800.00 in Stock

GigaCloud Technology Inc. (NASDAQ:GCT) CEO Lei Wu sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $41.36, for a total transaction of $1,240,800.00. Following the completion of the transaction, the chief executive officer owned 210,000 shares of the company’s stock, valued at approximately $8,685,600. The trade was a 12.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Wednesday, March 18th, Lei Wu sold 30,000 shares of GigaCloud Technology stock. The shares were sold at an average price of $43.21, for a total value of $1,296,300.00.
• On Monday, March 16th, Lei Wu sold 30,000 shares of GigaCloud Technology stock. The shares were sold at an average price of $42.39, for a total value of $1,271,700.00.
• On Wednesday, March 11th, Lei Wu sold 30,000 shares of GigaCloud Technology stock. The stock was sold at an average price of $43.38, for a total value of $1,301,400.00.
• On Monday, March 9th, Lei Wu sold 30,000 shares of GigaCloud Technology stock. The stock was sold at an average price of $42.13, for a total value of $1,263,900.00.
• On Thursday, March 5th, Lei Wu sold 30,000 shares of GigaCloud Technology stock. The shares were sold at an average price of $43.11, for a total value of $1,293,300.00.
• On Wednesday, March 4th, Lei Wu sold 40,000 shares of GigaCloud Technology stock. The shares were sold at an average price of $44.08, for a total value of $1,763,200.00.
• On Tuesday, March 3rd, Lei Wu sold 58,090 shares of GigaCloud Technology stock. The stock was sold at an average price of $40.99, for a total value of $2,381,109.10.
• On Monday, March 2nd, Lei Wu sold 30,000 shares of GigaCloud Technology stock. The stock was sold at an average price of $42.83, for a total value of $1,284,900.00.
• On Friday, February 27th, Lei Wu sold 60,000 shares of GigaCloud Technology stock. The shares were sold at an average price of $43.57, for a total transaction of $2,614,200.00.
• On Thursday, February 26th, Lei Wu sold 70,000 shares of GigaCloud Technology stock. The shares were sold at an average price of $45.28, for a total transaction of $3,169,600.00.

GigaCloud Technology Stock Down 1.0%

Shares of GCT stock opened at $42.61 on Thursday. The company has a 50 day moving average price of $40.17 and a 200-day moving average price of $35.21. GigaCloud Technology Inc. has a 52 week low of $11.17 and a 52 week high of $48.00. The firm has a market capitalization of $1.58 billion, a PE ratio of 11.77 and a beta of 2.24.

GigaCloud Technology (NASDAQ:GCT) last issued its quarterly earnings data on Thursday, February 26th. The company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.51. GigaCloud Technology had a net margin of 10.65% and a return on equity of 30.74%. The company had revenue of $362.75 million for the quarter, compared to the consensus estimate of $332.33 million. During the same quarter in the prior year, the firm earned $0.76 earnings per share. The firm’s revenue for the quarter was up 22.6% compared to the same quarter last year. Analysts anticipate that GigaCloud Technology Inc. will post 3.1 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Weiss Ratings upgraded GigaCloud Technology from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, January 27th. Zacks Research raised shares of GigaCloud Technology from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 10th. Finally, Wall Street Zen raised shares of GigaCloud Technology from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 28th. One equities research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the stock. Based on data from MarketBeat, GigaCloud Technology presently has an average rating of “Buy” and an average price target of $33.00.

Institutional Trading of GigaCloud Technology

Hedge funds have recently bought and sold shares of the stock. Ameritas Investment Partners Inc. increased its position in GigaCloud Technology by 17.6% in the second quarter. Ameritas Investment Partners Inc. now owns 2,705 shares of the company’s stock worth $54,000 after buying an additional 405 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in shares of GigaCloud Technology by 25.6% in the second quarter. Tower Research Capital LLC TRC now owns 2,372 shares of the company’s stock worth $47,000 after buying an additional 483 shares during the period. SG Americas Securities LLC lifted its position in shares of GigaCloud Technology by 10.2% during the 4th quarter. SG Americas Securities LLC now owns 5,249 shares of the company’s stock valued at $206,000 after buying an additional 485 shares in the last quarter. Jones Financial Companies Lllp lifted its position in shares of GigaCloud Technology by 184.6% during the 3rd quarter. Jones Financial Companies Lllp now owns 908 shares of the company’s stock valued at $27,000 after buying an additional 589 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of GigaCloud Technology by 14.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,853 shares of the company’s stock valued at $166,000 after acquiring an additional 759 shares during the period. Institutional investors own 34.94% of the company’s stock.

GigaCloud Technology Company Profile

GigaCloud Technology Inc (NASDAQ:GCT) is a China-based provider of software-as-a-service (SaaS) and cloud computing solutions tailored for cross-border e-commerce. The company’s core offering, its Supply Chain Embedded E-commerce as a Service (SCEaaS) platform, integrates procurement, order management, warehousing, logistics and payment services into a unified cloud-based system. This end-to-end digital supply chain solution is designed to help small and medium-sized Chinese exporters efficiently connect with global buyers without the need to build and maintain their own infrastructure.

Through its modular, subscription-based SaaS model, GigaCloud enables merchants to scale operations on demand and minimize upfront capital expenditures.