Lei Wu Sells 20,000 Shares of GigaCloud Technology Inc. (NASDAQ:GCT) Stock

GigaCloud Technology Inc. (NASDAQ:GCT) CEO Lei Wu sold 20,000 shares of the stock in a transaction on Monday, April 8th. The shares were sold at an average price of $33.07, for a total value of $661,400.00. Following the sale, the chief executive officer now owns 1,160,816 shares in the company, valued at approximately $38,388,185.12. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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

• 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 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 transaction of $165.84.

GigaCloud Technology Stock Down 1.8 %

GCT stock opened at $31.02 on Thursday. The stock has a market capitalization of $1.26 billion, a price-to-earnings ratio of 13.49 and a beta of 2.26. The stock’s fifty day simple moving average is $32.09 and its 200-day simple moving average is $20.00. GigaCloud Technology Inc. has a 52-week low of $4.93 and a 52-week high of $45.18.

GigaCloud Technology (NASDAQ:GCT) last issued its quarterly earnings results on Friday, March 15th. The company reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.29. The firm had revenue of $244.74 million for 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%. As a group, analysts anticipate that GigaCloud Technology Inc. will post 2.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On GigaCloud Technology

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

About GigaCloud Technology

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.