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

GigaCloud Technology Inc. (NASDAQ:GCT) CEO Lei Wu sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $32.23, for a total transaction of $32,230.00. Following the completion of the transaction, the chief executive officer now directly owns 1,237,816 shares of the company’s stock, valued at approximately $39,894,809.68. 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 shares were 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 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 transaction of $31,860.00.
• On Monday, April 8th, Lei Wu sold 20,000 shares of GigaCloud Technology stock. The stock was 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 transaction 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 Stock Performance

Shares of NASDAQ GCT opened at $36.81 on Friday. The firm has a market capitalization of $1.50 billion, a P/E ratio of 16.00 and a beta of 2.26. GigaCloud Technology Inc. has a one year low of $4.93 and a one year high of $45.18. The company’s fifty day moving average is $32.76 and its two-hundred day moving average is $20.86.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. CWM LLC acquired a new position in shares of GigaCloud Technology during the 4th quarter valued at about $30,000. Quarry LP acquired a new position in shares of GigaCloud Technology during the 4th quarter valued at about $47,000. State of Wyoming acquired a new position in shares of GigaCloud Technology during the 2nd quarter valued at about $27,000. Morgan Stanley acquired a new position in shares of GigaCloud Technology during the 4th quarter valued at about $25,000. Finally, Royal Bank of Canada acquired a new position in shares of GigaCloud Technology during the 4th quarter valued at about $108,000. Institutional investors and hedge funds own 34.94% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Roth Mkm raised 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.

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.