Lei Wu Sells 44,000 Shares of GigaCloud Technology Inc. (NASDAQ:GCT) Stock

Posted by Defense World Staff on Apr 28th, 2024

GigaCloud Technology Inc. (NASDAQ:GCT – Get Free Report) CEO Lei Wu sold 44,000 shares of the company’s stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $36.54, for a total value of $1,607,760.00. Following the sale, the chief executive officer now owns 885,816 shares in the company, valued at approximately $32,367,716.64. The sale was disclosed in a filing with the SEC, which is available through this link.

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

On Monday, April 22nd, Lei Wu sold 44,000 shares of GigaCloud Technology stock. The shares were 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 value of $511,789.70.
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 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 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 stock was 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 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 value of $165.84.

GigaCloud Technology Stock Down 2.8 %

Shares of GigaCloud Technology stock opened at $35.35 on Friday. The company has a market cap of $1.44 billion, a PE ratio of 15.37 and a beta of 2.26. GigaCloud Technology Inc. has a 52 week low of $4.93 and a 52 week high of $45.18. The business has a 50 day moving average price of $33.39 and a 200-day moving average price of $22.19.

GigaCloud Technology (NASDAQ:GCT – Get Free Report) last issued its quarterly earnings data on Friday, March 15th. The company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.58 by $0.29. The firm had revenue of $244.74 million during the quarter, compared to the consensus estimate of $220.30 million. GigaCloud Technology had a return on equity of 36.40% and a net margin of 13.37%. As a group, research analysts anticipate that GigaCloud Technology Inc. will post 2.98 EPS for the current year.

Wall Street Analysts Forecast Growth

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

Read Our Latest Report on GCT

Institutional Trading of GigaCloud Technology

Several institutional investors and hedge funds have recently modified their holdings of GCT. New York State Common Retirement Fund purchased a new stake in shares of GigaCloud Technology in the third quarter worth approximately $1,895,000. State of New Jersey Common Pension Fund D purchased a new stake in shares of GigaCloud Technology during the third quarter valued at approximately $172,000. Pacific Ridge Capital Partners LLC purchased a new stake in shares of GigaCloud Technology during the third quarter valued at approximately $586,000. WINTON GROUP Ltd purchased a new stake in shares of GigaCloud Technology during the third quarter valued at approximately $258,000. Finally, PAX Financial Group LLC purchased a new stake in shares of GigaCloud Technology during the third quarter valued at approximately $141,000. 34.94% of the stock is owned by hedge funds and other institutional investors.

About GigaCloud Technology

(Get Free Report)

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.