GigaCloud Technology Inc. (NASDAQ:GCT) CEO Sells $511,789.70 in Stock

GigaCloud Technology Inc. (NASDAQ:GCT) CEO Lei Wu sold 14,177 shares of GigaCloud Technology stock in a transaction dated Friday, April 19th. The stock was sold at an average price of $36.10, for a total value of $511,789.70. Following the transaction, the chief executive officer now owns 1,047,639 shares of the company’s stock, valued at approximately $37,819,767.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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 shares were sold at an average price of $32.56, for a total value 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 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 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 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 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 stock was sold at an average price of $27.64, for a total transaction of $165.84.

GigaCloud Technology Price Performance

GigaCloud Technology stock opened at $37.09 on Tuesday. The stock’s fifty day moving average price is $33.12 and its two-hundred day moving average price is $21.52. The firm has a market cap of $1.51 billion, a PE ratio of 16.13 and a beta of 2.27. GigaCloud Technology Inc. has a one year low of $4.93 and a one year high of $45.18.

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

Hedge Funds Weigh In On GigaCloud Technology

Several hedge funds have recently bought and sold shares of the company. CWM LLC bought a new stake in shares of GigaCloud Technology during the 4th quarter worth approximately $30,000. Quarry LP bought a new stake in GigaCloud Technology during the fourth quarter worth $47,000. PAX Financial Group LLC acquired a new stake in shares of GigaCloud Technology in the 3rd quarter valued at $141,000. Tucker Asset Management LLC increased its stake in shares of GigaCloud Technology by 1,499.8% in the 4th quarter. Tucker Asset Management LLC now owns 7,999 shares of the company’s stock valued at $146,000 after purchasing an additional 7,499 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D acquired a new position in shares of GigaCloud Technology during the 3rd quarter worth $172,000. 34.94% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Roth Mkm increased their target price on shares of GigaCloud Technology from $28.00 to $35.00 and gave the stock 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.