GigaCloud Technology Inc. (NASDAQ:GCT) CEO Lei Wu Sells 44,000 Shares

GigaCloud Technology Inc. (NASDAQ:GCT) CEO Lei Wu sold 44,000 shares of GigaCloud Technology stock in a transaction on Monday, April 15th. The stock was sold at an average price of $32.56, for a total transaction of $1,432,640.00. Following the sale, the chief executive officer now owns 1,193,816 shares in the company, valued at approximately $38,870,648.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• 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 transaction 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 Performance

Shares of NASDAQ:GCT opened at $34.96 on Thursday. GigaCloud Technology Inc. has a 52 week low of $4.93 and a 52 week high of $45.18. The company’s fifty day moving average is $32.64 and its 200-day moving average is $20.76. The company has a market capitalization of $1.42 billion, a PE ratio of 15.20 and a beta of 2.26.

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

Analyst Upgrades and Downgrades

Separately, Roth Mkm boosted their target price 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 Inflows and Outflows

A number of institutional investors have recently made changes to their positions in GCT. UBS Group AG bought a new position in shares of GigaCloud Technology in the third quarter valued at about $61,000. Marshall Wace LLP bought a new position in shares of GigaCloud Technology in the third quarter valued at about $1,425,000. Geode Capital Management LLC bought a new position in shares of GigaCloud Technology in the fourth quarter valued at about $102,000. Verition Fund Management LLC raised its holdings in shares of GigaCloud Technology by 123.8% in the fourth quarter. Verition Fund Management LLC now owns 73,789 shares of the company’s stock valued at $420,000 after buying an additional 40,824 shares during the last quarter. Finally, Morgan Stanley bought a new stake in GigaCloud Technology during the 4th quarter worth about $25,000. 34.94% of the stock is owned by institutional investors.

About GigaCloud Technology

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.