Lei Wu Sells 1,000 Shares of GigaCloud Technology Inc. (NASDAQ:GCT) Stock

GigaCloud Technology Inc. (NASDAQ:GCT) CEO Lei Wu sold 1,000 shares of the stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $32.23, for a total value of $32,230.00. Following the completion of the sale, the chief executive officer now directly owns 1,237,816 shares of the company’s stock, valued at approximately $39,894,809.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 value 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 value of $1,432,640.00.
• 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 value of $31,860.00.
• 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 stock was 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 opened at $34.69 on Friday. The business’s 50 day simple moving average is $32.90 and its 200-day simple moving average is $20.97. The firm has a market capitalization of $1.41 billion, a price-to-earnings ratio of 15.08 and a beta of 2.26. GigaCloud Technology Inc. has a 12 month low of $4.93 and a 12 month high of $45.18.

GigaCloud Technology (NASDAQ:GCT) last posted its 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 firm had revenue of $244.74 million for the quarter, compared to analyst estimates of $220.30 million. On average, equities analysts anticipate that GigaCloud Technology Inc. will post 2.58 earnings per share for the current year.

Institutional Investors Weigh In On GigaCloud Technology

A number of institutional investors and hedge funds have recently bought and sold shares of GCT. Acadian Asset Management LLC acquired a new position in GigaCloud Technology in the 3rd quarter valued at $9,634,000. Bridgeway Capital Management LLC acquired a new stake in shares of GigaCloud Technology during the 4th quarter worth $6,036,000. Verition Fund Management LLC purchased a new stake in GigaCloud Technology during the 4th quarter worth $4,613,000. New York State Common Retirement Fund purchased a new stake in GigaCloud Technology during the 3rd quarter worth $1,895,000. Finally, Quadrature Capital Ltd purchased a new stake in GigaCloud Technology during the 4th quarter worth $2,803,000. Hedge funds and other institutional investors own 34.94% of the company’s stock.

Analysts Set New Price Targets

Separately, Roth Mkm boosted 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.

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.