GigaCloud Technology Inc. (NASDAQ:GCT) CEO Sells $31,860.00 in Stock

GigaCloud Technology Inc. (NASDAQ:GCT) CEO Lei Wu sold 1,000 shares of the business’s stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $31.86, for a total value of $31,860.00. Following the completion of the sale, the chief executive officer now owns 1,258,816 shares in the company, valued at $40,105,877.76. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• 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 shares were 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 Trading Down 6.1 %

GCT stock opened at $31.75 on Friday. The company’s 50 day moving average is $32.41 and its 200 day moving average is $20.32. The stock has a market cap of $1.29 billion, a price-to-earnings ratio of 13.80 and a beta of 2.26. GigaCloud Technology Inc. has a 1-year low of $4.93 and a 1-year high of $45.18.

GigaCloud Technology (NASDAQ:GCT) last posted its quarterly earnings data on Friday, March 15th. The company reported $0.87 earnings per share 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 analysts’ expectations of $220.30 million. GigaCloud Technology had a net margin of 13.37% and a return on equity of 36.40%. As a group, sell-side analysts forecast that GigaCloud Technology Inc. will post 2.58 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Roth Mkm upped 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.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of GCT. Morgan Stanley purchased a new stake in GigaCloud Technology in the fourth quarter worth approximately $25,000. State of Wyoming purchased a new stake in GigaCloud Technology in the second quarter worth approximately $27,000. CWM LLC purchased a new stake in GigaCloud Technology in the fourth quarter worth approximately $30,000. Quarry LP purchased a new stake in GigaCloud Technology in the fourth quarter worth approximately $47,000. Finally, UBS Group AG purchased a new stake in GigaCloud Technology in the third quarter worth approximately $61,000. 34.94% of the stock is currently owned by institutional investors.

GigaCloud Technology Company Profile

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.