Lei Wu Sells 58,090 Shares of GigaCloud Technology (NASDAQ:GCT) Stock

GigaCloud Technology Inc. (NASDAQ:GCT) CEO Lei Wu sold 58,090 shares of the business’s stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $40.99, for a total value of $2,381,109.10. Following the transaction, the chief executive officer owned 460,000 shares of the company’s stock, valued at $18,855,400. This trade represents a 11.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

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

• On Thursday, March 5th, Lei Wu sold 30,000 shares of GigaCloud Technology stock. The shares were sold at an average price of $43.11, for a total value of $1,293,300.00.
• On Wednesday, March 4th, Lei Wu sold 40,000 shares of GigaCloud Technology stock. The stock was sold at an average price of $44.08, for a total transaction of $1,763,200.00.
• On Monday, March 2nd, Lei Wu sold 30,000 shares of GigaCloud Technology stock. The stock was sold at an average price of $42.83, for a total transaction of $1,284,900.00.
• On Friday, February 27th, Lei Wu sold 60,000 shares of GigaCloud Technology stock. The shares were sold at an average price of $43.57, for a total transaction of $2,614,200.00.
• On Thursday, February 26th, Lei Wu sold 70,000 shares of GigaCloud Technology stock. The shares were sold at an average price of $45.28, for a total transaction of $3,169,600.00.
• On Thursday, January 22nd, Lei Wu sold 20,000 shares of GigaCloud Technology stock. The stock was sold at an average price of $40.78, for a total transaction of $815,600.00.
• 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 shares were sold at an average price of $40.01, for a total transaction 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 transaction of $826,800.00.
• On Wednesday, January 14th, Lei Wu sold 20,000 shares of GigaCloud Technology stock. The shares were sold at an average price of $40.94, for a total transaction of $818,800.00.

GigaCloud Technology Price Performance

Shares of NASDAQ:GCT opened at $42.76 on Friday. GigaCloud Technology Inc. has a 12 month low of $11.17 and a 12 month high of $48.00. The stock has a market cap of $1.58 billion, a price-to-earnings ratio of 11.81 and a beta of 2.24. The stock’s 50 day moving average price is $39.73 and its 200 day moving average price is $34.39.

GigaCloud Technology (NASDAQ:GCT) last released its earnings results on Thursday, February 26th. The company reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.39. The firm had revenue of $362.75 million during the quarter, compared to the consensus estimate of $332.33 million. GigaCloud Technology had a return on equity of 30.74% and a net margin of 10.65%.The firm’s revenue for the quarter was up 22.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.76 earnings per share. On average, sell-side analysts expect that GigaCloud Technology Inc. will post 3.1 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Nordea Investment Management AB purchased a new stake in GigaCloud Technology in the 3rd quarter worth approximately $3,852,000. Hussman Strategic Advisors Inc. purchased a new position in shares of GigaCloud Technology during the 3rd quarter valued at $3,578,000. Teacher Retirement System of Texas acquired a new position in shares of GigaCloud Technology in the third quarter worth $952,000. Inspire Investing LLC acquired a new position in shares of GigaCloud Technology in the third quarter worth $1,040,000. Finally, Ethos Financial Group LLC raised its holdings in shares of GigaCloud Technology by 53.5% during the second quarter. Ethos Financial Group LLC now owns 62,515 shares of the company’s stock worth $1,237,000 after acquiring an additional 21,798 shares in the last quarter. 34.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on GCT. Weiss Ratings raised GigaCloud Technology from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, January 27th. Zacks Research cut shares of GigaCloud Technology from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 16th. Finally, Wall Street Zen upgraded shares of GigaCloud Technology from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 28th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $33.00.

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.