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

GigaCloud Technology Inc. (NASDAQ:GCT) CEO Lei Wu sold 44,000 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $40.21, for a total value of $1,769,240.00. Following the completion of the transaction, the chief executive officer now owns 533,816 shares of the company’s stock, valued at $21,464,741.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Thursday, May 2nd, Lei Wu sold 44,000 shares of GigaCloud Technology stock. The shares were sold at an average price of $33.86, for a total transaction of $1,489,840.00.
• On Tuesday, April 30th, Lei Wu sold 44,000 shares of GigaCloud Technology stock. The shares were sold at an average price of $31.87, for a total value of $1,402,280.00.
• On Friday, April 26th, Lei Wu sold 44,000 shares of GigaCloud Technology stock. The stock was sold at an average price of $35.89, for a total value of $1,579,160.00.
• On Wednesday, April 24th, Lei Wu sold 44,000 shares of GigaCloud Technology stock. The stock was sold at an average price of $36.54, for a total value of $1,607,760.00.
• On Monday, April 22nd, Lei Wu sold 44,000 shares of GigaCloud Technology stock. The shares were sold at an average price of $35.98, for a total value of $1,583,120.00.
• On Friday, April 19th, Lei Wu sold 14,177 shares of GigaCloud Technology stock. The stock was sold at an average price of $36.10, for a total transaction of $511,789.70.
• 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 shares were 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 value of $32,230.00.
• On Wednesday, April 10th, Lei Wu sold 1,000 shares of GigaCloud Technology stock. The shares were sold at an average price of $31.86, for a total value of $31,860.00.

GigaCloud Technology Trading Down 2.4 %

NASDAQ:GCT opened at $39.14 on Thursday. GigaCloud Technology Inc. has a 12 month low of $5.11 and a 12 month high of $45.18. The stock has a market capitalization of $1.60 billion, a price-to-earnings ratio of 17.02 and a beta of 1.99. The firm has a fifty day simple moving average of $34.04 and a two-hundred day simple moving average of $23.72.

GigaCloud Technology (NASDAQ:GCT) last issued its earnings results on Friday, March 15th. The company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.58 by $0.29. GigaCloud Technology had a return on equity of 36.40% and a net margin of 13.37%. The company had revenue of $244.74 million during the quarter, compared to the consensus estimate of $220.30 million. Equities analysts predict that GigaCloud Technology Inc. will post 2.98 earnings per share for the current fiscal year.

Analyst Ratings Changes

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 note on Tuesday, April 2nd.

Institutional Investors Weigh In On GigaCloud Technology

A number of hedge funds have recently added to or reduced their stakes in the company. PAX Financial Group LLC acquired a new stake in GigaCloud Technology in the 3rd quarter valued at $141,000. Acadian Asset Management LLC bought a new stake in shares of GigaCloud Technology during the third quarter worth about $9,634,000. Ritholtz Wealth Management bought a new stake in shares of GigaCloud Technology during the fourth quarter worth about $295,000. WINTON GROUP Ltd acquired a new stake in shares of GigaCloud Technology in the 3rd quarter worth about $258,000. Finally, New York State Common Retirement Fund bought a new position in GigaCloud Technology in the 3rd quarter valued at about $1,895,000. Institutional investors and hedge funds own 34.94% of the company’s stock.

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.