Lei Wu Sells 20,000 Shares of GigaCloud Technology (NASDAQ:GCT) Stock

GigaCloud Technology Inc. (NASDAQ:GCT) CEO Lei Wu sold 20,000 shares of the business’s stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $42.36, for a total transaction of $847,200.00. Following the completion of the transaction, the chief executive officer owned 840,000 shares of the company’s stock, valued at $35,582,400. This represents a 2.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

GigaCloud Technology Stock Performance

NASDAQ:GCT opened at $41.80 on Friday. The company’s 50-day simple moving average is $36.79 and its 200-day simple moving average is $29.88. GigaCloud Technology Inc. has a fifty-two week low of $11.17 and a fifty-two week high of $43.85. The stock has a market capitalization of $1.55 billion, a P/E ratio of 12.51 and a beta of 2.28.

GigaCloud Technology (NASDAQ:GCT) last posted its quarterly earnings data on Thursday, November 6th. The company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.65 by $0.34. GigaCloud Technology had a net margin of 10.62% and a return on equity of 30.43%. The firm had revenue of $332.64 million during the quarter, compared to analyst estimates of $300.96 million. During the same quarter in the previous year, the business posted $1.15 EPS. GigaCloud Technology’s revenue was up 9.7% on a year-over-year basis. On average, research analysts forecast that GigaCloud Technology Inc. will post 3.1 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on GCT. Zacks Research raised GigaCloud Technology from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 10th. Weiss Ratings upgraded GigaCloud Technology from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, December 29th. Finally, Wall Street Zen upgraded shares of GigaCloud Technology from a “hold” rating to a “buy” rating in a report on Saturday, December 13th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.00.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of GCT. Royal Bank of Canada lifted its holdings in shares of GigaCloud Technology by 91.4% during the first quarter. Royal Bank of Canada now owns 46,638 shares of the company’s stock worth $661,000 after purchasing an additional 22,273 shares during the period. AQR Capital Management LLC increased its holdings in GigaCloud Technology by 355.1% in the 1st quarter. AQR Capital Management LLC now owns 99,669 shares of the company’s stock worth $1,415,000 after buying an additional 77,769 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in GigaCloud Technology by 34.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,230 shares of the company’s stock worth $458,000 after buying an additional 8,274 shares during the period. Jones Financial Companies Lllp raised its position in GigaCloud Technology by 2,444.8% during the 1st quarter. Jones Financial Companies Lllp now owns 4,199 shares of the company’s stock worth $60,000 after buying an additional 4,034 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in GigaCloud Technology by 24.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 142,055 shares of the company’s stock valued at $2,017,000 after acquiring an additional 28,309 shares during the period. 34.94% of the stock is owned by institutional investors and hedge funds.

GigaCloud Technology Company Profile

GigaCloud Technology Inc (NASDAQ:GCT) is a China-based provider of software-as-a-service (SaaS) and cloud computing solutions tailored for cross-border e-commerce. The company’s core offering, its Supply Chain Embedded E-commerce as a Service (SCEaaS) platform, integrates procurement, order management, warehousing, logistics and payment services into a unified cloud-based system. This end-to-end digital supply chain solution is designed to help small and medium-sized Chinese exporters efficiently connect with global buyers without the need to build and maintain their own infrastructure.

Through its modular, subscription-based SaaS model, GigaCloud enables merchants to scale operations on demand and minimize upfront capital expenditures.