GigaCloud Technology Inc. (NASDAQ:GCT) CEO Sells $1,489,840.00 in Stock

Posted by Defense World Staff on May 5th, 2024

GigaCloud Technology Inc. (NASDAQ:GCT – Get Free Report) CEO Lei Wu sold 44,000 shares of the business’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $33.86, for a total transaction of $1,489,840.00. Following the completion of the transaction, the chief executive officer now owns 621,816 shares of the company’s stock, valued at approximately $21,054,689.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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

On Tuesday, April 30th, Lei Wu sold 44,000 shares of GigaCloud Technology stock. The shares were sold at an average price of $31.87, for a total value of $1,402,280.00.
On Friday, April 26th, Lei Wu sold 44,000 shares of GigaCloud Technology stock. The stock was sold at an average price of $35.89, for a total value of $1,579,160.00.
On Wednesday, April 24th, Lei Wu sold 44,000 shares of GigaCloud Technology stock. The stock was sold at an average price of $36.54, for a total transaction of $1,607,760.00.
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 stock was 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 stock was 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 Friday, April 12th, Lei Wu sold 1,000 shares of GigaCloud Technology stock. The stock was 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 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 value of $661,400.00.

GigaCloud Technology Stock Performance

GCT stock opened at $37.27 on Friday. GigaCloud Technology Inc. has a one year low of $4.97 and a one year high of $45.18. The company has a fifty day moving average of $33.68 and a 200-day moving average of $23.06. The stock has a market capitalization of $1.52 billion, a PE ratio of 16.20 and a beta of 1.99.

GigaCloud Technology (NASDAQ:GCT – Get Free Report) last announced its quarterly earnings data on Friday, March 15th. The company reported $0.87 EPS for the quarter, beating analysts’ consensus estimates 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. Equities analysts forecast that GigaCloud Technology Inc. will post 2.98 earnings per share for the current fiscal year.

Institutional Trading of GigaCloud Technology

Several hedge funds and other institutional investors have recently made changes to their positions in GCT. Acadian Asset Management LLC acquired a new stake in shares of GigaCloud Technology in the 3rd quarter worth approximately $9,634,000. New York State Common Retirement Fund purchased a new stake in GigaCloud Technology during the third quarter worth $1,895,000. Quadrature Capital Ltd acquired a new stake in GigaCloud Technology in the fourth quarter valued at $2,803,000. Pacific Ridge Capital Partners LLC increased its position in shares of GigaCloud Technology by 27.1% in the fourth quarter. Pacific Ridge Capital Partners LLC now owns 84,617 shares of the company’s stock valued at $1,548,000 after buying an additional 18,049 shares in the last quarter. Finally, Nomura Holdings Inc. acquired a new position in shares of GigaCloud Technology during the 4th quarter worth $991,000. Institutional investors and hedge funds own 34.94% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Read Our Latest Stock Analysis on GCT

GigaCloud Technology Company Profile

(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.