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

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

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

GigaCloud Technology Trading Down 6.1 %

GCT stock opened at $31.75 on Friday. The stock has a market cap of $1.29 billion, a PE ratio of 13.80 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. The company has a 50-day moving average price of $32.41 and a 200 day moving average price of $20.25.

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

Wall Street Analysts Forecast Growth

Separately, Roth Mkm upped their price objective 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 Investors Weigh In On GigaCloud Technology

A number of institutional investors and hedge funds have recently modified their holdings of GCT. Morgan Stanley bought a new stake in GigaCloud Technology during the 4th quarter valued at about $25,000. State of Wyoming bought a new position in GigaCloud Technology in the second quarter worth approximately $27,000. CWM LLC purchased a new position in GigaCloud Technology during the 4th quarter worth $30,000. Quarry LP purchased a new stake in shares of GigaCloud Technology in the 4th quarter worth $47,000. Finally, UBS Group AG bought a new position in shares of GigaCloud Technology during the 3rd quarter worth $61,000. 34.94% of the stock is owned by institutional investors.

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.