GigaCloud Technology (NASDAQ:GCT) CEO Sells $1,763,200.00 in Stock

GigaCloud Technology Inc. (NASDAQ:GCT) CEO Lei Wu sold 40,000 shares of GigaCloud Technology stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $44.08, for a total value of $1,763,200.00. Following the sale, the chief executive officer owned 420,000 shares of the company’s stock, valued at approximately $18,513,600. This represents a 8.70% decrease in their position. The transaction was disclosed in a filing 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 transaction of $1,293,300.00.
• On Tuesday, March 3rd, Lei Wu sold 58,090 shares of GigaCloud Technology stock. The stock was 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 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 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 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 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 value of $818,800.00.

GigaCloud Technology Stock Performance

Shares of GCT opened at $42.76 on Friday. GigaCloud Technology Inc. has a fifty-two week low of $11.17 and a fifty-two week high of $48.00. The company has a market capitalization of $1.58 billion, a PE ratio of 11.81 and a beta of 2.24. The stock has a fifty day moving average of $39.73 and a two-hundred day moving average of $34.41.

GigaCloud Technology (NASDAQ:GCT) last posted its quarterly earnings data 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. The business had revenue of $362.75 million for the quarter, compared to analysts’ expectations of $332.33 million. GigaCloud Technology had a return on equity of 30.74% and a net margin of 10.65%.The business’s revenue was up 22.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.76 earnings per share. As a group, equities research analysts forecast that GigaCloud Technology Inc. will post 3.1 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in GigaCloud Technology by 18.2% in the third quarter. Vanguard Group Inc. now owns 803,664 shares of the company’s stock valued at $22,824,000 after acquiring an additional 123,596 shares during the last quarter. LSV Asset Management grew its position in GigaCloud Technology by 824.2% during the fourth 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 during the period. Geode Capital Management LLC increased its stake in GigaCloud Technology by 9.1% during the second quarter. Geode Capital Management LLC now owns 630,805 shares of the company’s stock worth $12,479,000 after acquiring an additional 52,415 shares during the last quarter. State Street Corp raised its holdings in shares of 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 raised its holdings in shares of GigaCloud Technology by 32.2% in 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 during the period. 34.94% of the stock is owned by hedge funds and other institutional investors.

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.