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 the firm’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $35.89, for a total transaction of $1,579,160.00. Following the transaction, the chief executive officer now owns 797,816 shares in the company, valued at approximately $28,633,616.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Wednesday, April 24th, Lei Wu sold 44,000 shares of GigaCloud Technology stock. The shares were 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 stock was 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 shares were 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 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 shares were 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.
• 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 transaction 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 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.

GigaCloud Technology Stock Performance

Shares of GigaCloud Technology stock traded down $1.37 during trading on Monday, hitting $33.98. 2,446,431 shares of the stock traded hands, compared to its average volume of 3,087,834. The stock has a market cap of $1.38 billion, a P/E ratio of 14.77 and a beta of 2.27. The company has a fifty day moving average price of $33.38 and a two-hundred day moving average price of $22.46. GigaCloud Technology Inc. has a twelve month low of $4.97 and a twelve month high of $45.18.

GigaCloud Technology (NASDAQ:GCT) last announced its quarterly earnings results on Friday, March 15th. The company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.58 by $0.29. The company had revenue of $244.74 million for the quarter, compared to analyst estimates of $220.30 million. GigaCloud Technology had a net margin of 13.37% and a return on equity of 36.40%. On average, equities research analysts expect that GigaCloud Technology Inc. will post 2.98 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Institutional Trading of GigaCloud Technology

Institutional investors and hedge funds have recently made changes to their positions in the stock. CWM LLC bought a new position in GigaCloud Technology in the 4th quarter worth approximately $30,000. Quarry LP acquired a new position in shares of GigaCloud Technology during the fourth quarter valued at about $47,000. PAX Financial Group LLC bought a new stake in shares of GigaCloud Technology in the third quarter valued at about $141,000. Tucker Asset Management LLC grew its position 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 buying an additional 7,499 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D bought a new position in GigaCloud Technology during the third quarter valued at about $172,000. 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.