Insider Selling: GigaCloud Technology Inc. (NASDAQ:GCT) CEO Sells 14,177 Shares of Stock

GigaCloud Technology Inc. (NASDAQ:GCT) CEO Lei Wu sold 14,177 shares of the stock in a transaction on Friday, April 19th. The stock was sold at an average price of $36.10, for a total transaction of $511,789.70. Following the transaction, the chief executive officer now directly owns 1,047,639 shares in the company, valued at $37,819,767.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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 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 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 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 Stock Performance

Shares of NASDAQ:GCT traded up $2.40 during midday trading on Monday, hitting $37.09. The company’s stock had a trading volume of 2,668,266 shares, compared to its average volume of 3,133,509. The stock has a market capitalization of $1.51 billion, a price-to-earnings ratio of 16.13 and a beta of 2.27. The stock’s 50 day simple moving average is $33.12 and its 200 day simple moving average is $21.52. GigaCloud Technology Inc. has a fifty-two week low of $4.93 and a fifty-two week high of $45.18.

GigaCloud Technology (NASDAQ:GCT) last released its earnings results on Friday, March 15th. The company reported $0.87 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $220.30 million. As a group, analysts anticipate that GigaCloud Technology Inc. will post 2.58 EPS for the current year.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On GigaCloud Technology

Several hedge funds have recently made changes to their positions in GCT. CWM LLC bought a new stake in shares of GigaCloud Technology in the fourth quarter valued at about $30,000. Quarry LP bought a new position in GigaCloud Technology during the fourth quarter worth about $47,000. PAX Financial Group LLC bought a new position in GigaCloud Technology during the third quarter worth about $141,000. Tucker Asset Management LLC lifted its stake in GigaCloud Technology by 1,499.8% during the fourth quarter. Tucker Asset Management LLC now owns 7,999 shares of the company’s stock worth $146,000 after purchasing an additional 7,499 shares during the period. Finally, State of New Jersey Common Pension Fund D bought a new position in GigaCloud Technology during the third quarter worth about $172,000. Institutional investors own 34.94% of the company’s stock.

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.