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 GigaCloud Technology stock in a transaction on Thursday, January 22nd. The shares were sold at an average price of $40.78, for a total transaction of $815,600.00. Following the completion of the transaction, the chief executive officer owned 678,090 shares in the company, valued at approximately $27,652,510.20. This represents a 2.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

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

• On Wednesday, January 21st, Lei Wu sold 210 shares of GigaCloud Technology stock. The stock was sold at an average price of $40.26, for a total transaction of $8,454.60.
• On Tuesday, January 20th, Lei Wu sold 1,700 shares of GigaCloud Technology stock. The stock was sold at an average price of $40.01, for a total value of $68,017.00.
• On Friday, January 16th, Lei Wu sold 20,000 shares of GigaCloud Technology stock. The shares were sold at an average price of $41.34, for a total value of $826,800.00.
• On Wednesday, January 14th, Lei Wu sold 20,000 shares of GigaCloud Technology stock. The stock was sold at an average price of $40.94, for a total value of $818,800.00.
• On Monday, January 12th, Lei Wu sold 20,000 shares of GigaCloud Technology stock. The shares were sold at an average price of $43.39, for a total value of $867,800.00.
• On Friday, January 9th, Lei Wu sold 20,000 shares of GigaCloud Technology stock. The shares were sold at an average price of $42.08, for a total value of $841,600.00.
• On Wednesday, January 7th, Lei Wu sold 20,000 shares of GigaCloud Technology stock. The stock was sold at an average price of $42.36, for a total value of $847,200.00.

GigaCloud Technology Price Performance

Shares of NASDAQ GCT opened at $42.08 on Friday. The stock has a fifty day moving average price of $39.02 and a 200 day moving average price of $31.28. GigaCloud Technology Inc. has a 1-year low of $11.17 and a 1-year high of $44.71. The company has a market cap of $1.56 billion, a PE ratio of 12.60 and a beta of 2.28.

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

Institutional Investors Weigh In On GigaCloud Technology

Several institutional investors have recently modified their holdings of GCT. Vanguard Group Inc. grew its holdings in shares of GigaCloud Technology by 18.2% in the 3rd quarter. Vanguard Group Inc. now owns 803,664 shares of the company’s stock worth $22,824,000 after acquiring an additional 123,596 shares during the period. Geode Capital Management LLC grew its holdings in GigaCloud Technology by 9.1% in the second quarter. Geode Capital Management LLC now owns 630,805 shares of the company’s stock valued at $12,479,000 after purchasing an additional 52,415 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in GigaCloud Technology in the third quarter valued at $14,335,000. UBS Group AG increased its position in shares of GigaCloud Technology by 133.8% in the third quarter. UBS Group AG now owns 441,992 shares of the company’s stock valued at $12,553,000 after buying an additional 252,934 shares in the last quarter. Finally, Franklin Resources Inc. raised its stake in shares of GigaCloud Technology by 3.3% during the 3rd quarter. Franklin Resources Inc. now owns 421,507 shares of the company’s stock worth $11,971,000 after buying an additional 13,547 shares during the last quarter. Hedge funds and other institutional investors own 34.94% of the company’s stock.

Wall Street Analysts Forecast Growth

GCT has been the topic of a number of analyst reports. Zacks Research lowered GigaCloud Technology from a “strong-buy” rating to a “hold” rating in a report on Friday, January 16th. Weiss Ratings cut GigaCloud Technology from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, January 12th. Finally, Wall Street Zen raised GigaCloud Technology from a “hold” rating to a “buy” rating in a report on Saturday, December 13th. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, GigaCloud Technology presently has a consensus rating of “Hold” and an average target price of $24.00.

About GigaCloud Technology

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.