GigaCloud Technology (NASDAQ:GCT) CEO Sells $1,293,300.00 in Stock

GigaCloud Technology Inc. (NASDAQ:GCT) CEO Lei Wu sold 30,000 shares of GigaCloud Technology stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $43.11, for a total value of $1,293,300.00. Following the completion of the sale, the chief executive officer owned 390,000 shares of the company’s stock, valued at approximately $16,812,900. The trade was a 7.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Wednesday, March 4th, Lei Wu sold 40,000 shares of GigaCloud Technology stock. The shares were sold at an average price of $44.08, for a total transaction of $1,763,200.00.
• On Tuesday, March 3rd, Lei Wu sold 58,090 shares of GigaCloud Technology stock. The shares were sold at an average price of $40.99, for a total transaction of $2,381,109.10.
• 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 stock was 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 stock was 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 shares were 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 shares were 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 stock was 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 Stock Down 2.1%

GCT stock opened at $42.76 on Friday. The business’s fifty day moving average is $39.73 and its 200-day moving average is $34.41. The company has a market cap of $1.58 billion, a P/E ratio of 11.81 and a beta of 2.24. GigaCloud Technology Inc. has a twelve month low of $11.17 and a twelve month high of $48.00.

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

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On GigaCloud Technology

Several large investors have recently made changes to their positions in GCT. Vanguard Group Inc. raised its holdings in shares of GigaCloud Technology by 18.2% during the third 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. LSV Asset Management lifted its position in GigaCloud Technology by 824.2% in the 4th quarter. LSV Asset Management now owns 736,600 shares of the company’s stock valued at $28,934,000 after acquiring an additional 656,900 shares in the last quarter. Geode Capital Management LLC boosted its stake in GigaCloud Technology by 9.1% in the 2nd quarter. Geode Capital Management LLC now owns 630,805 shares of the company’s stock worth $12,479,000 after purchasing an additional 52,415 shares during the period. State Street Corp boosted its stake in GigaCloud Technology by 1.8% in the 4th quarter. State Street Corp now owns 566,091 shares of the company’s stock worth $22,236,000 after purchasing an additional 9,765 shares during the period. Finally, Nuveen LLC increased its holdings in GigaCloud Technology by 32.2% during the 4th quarter. Nuveen LLC now owns 542,454 shares of the company’s stock worth $21,308,000 after purchasing an additional 132,107 shares in the last quarter. Institutional investors own 34.94% of the company’s stock.

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.