GigaCloud Technology Inc. (NASDAQ:GCT) CEO Lei Wu Sells 14,177 Shares of Stock

GigaCloud Technology Inc. (NASDAQ:GCT) CEO Lei Wu sold 14,177 shares of GigaCloud Technology stock in a transaction that occurred on Friday, April 19th. The shares were sold at an average price of $36.10, for a total transaction of $511,789.70. Following the completion of the sale, the chief executive officer now owns 1,047,639 shares of the company’s stock, valued at $37,819,767.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Wednesday, April 17th, Lei Wu sold 44,000 shares of GigaCloud Technology stock. The shares were sold at an average price of $34.61, for a total transaction of $1,522,840.00.
• On Monday, April 15th, Lei Wu sold 44,000 shares of GigaCloud Technology stock. The stock was sold at an average price of $32.56, for a total transaction of $1,432,640.00.
• On Friday, April 12th, Lei Wu sold 1,000 shares of GigaCloud Technology stock. The stock was sold at an average price of $32.23, for a total transaction of $32,230.00.
• On Wednesday, April 10th, Lei Wu sold 1,000 shares of GigaCloud Technology stock. The stock was sold at an average price of $31.86, for a total value of $31,860.00.
• On Monday, April 8th, Lei Wu sold 20,000 shares of GigaCloud Technology stock. The shares were sold at an average price of $33.07, for a total value of $661,400.00.
• On Thursday, April 4th, Lei Wu sold 20,000 shares of GigaCloud Technology stock. The shares were sold at an average price of $36.39, for a total value of $727,800.00.
• On Monday, April 1st, Lei Wu sold 1,000 shares of GigaCloud Technology stock. The stock was sold at an average price of $29.53, for a total value of $29,530.00.
• On Tuesday, March 26th, Lei Wu sold 6 shares of GigaCloud Technology stock. The shares were sold at an average price of $27.64, for a total transaction of $165.84.

GigaCloud Technology Stock Performance

Shares of NASDAQ:GCT opened at $37.09 on Tuesday. The stock’s 50-day moving average is $33.12 and its 200-day moving average is $21.52. The company has a market cap of $1.51 billion, a P/E ratio of 16.13 and a beta of 2.27. GigaCloud Technology Inc. has a 52-week low of $4.93 and a 52-week high of $45.18.

GigaCloud Technology (NASDAQ:GCT) last announced its earnings results on Friday, March 15th. The company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.29. The firm had revenue of $244.74 million during the quarter, compared to the consensus estimate of $220.30 million. GigaCloud Technology had a return on equity of 36.40% and a net margin of 13.37%. As a group, equities analysts predict that GigaCloud Technology Inc. will post 2.58 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Roth Mkm upped their price objective on shares of GigaCloud Technology from $28.00 to $35.00 and gave the stock a “buy” rating in a report on Tuesday, April 2nd.

Institutional Investors Weigh In On GigaCloud Technology

Several hedge funds have recently modified their holdings of the business. New York State Common Retirement Fund acquired a new position in shares of GigaCloud Technology during the third quarter valued at about $1,895,000. State of New Jersey Common Pension Fund D acquired a new position in GigaCloud Technology in the 3rd quarter valued at approximately $172,000. Pacific Ridge Capital Partners LLC bought a new stake in shares of GigaCloud Technology in the 3rd quarter worth approximately $586,000. WINTON GROUP Ltd acquired a new stake in shares of GigaCloud Technology during the 3rd quarter worth approximately $258,000. Finally, PAX Financial Group LLC bought a new stake in shares of GigaCloud Technology during the third quarter valued at approximately $141,000. 34.94% of the stock is owned by institutional investors.

About GigaCloud Technology

GigaCloud Technology Inc provides end-to-end B2B ecommerce solutions for large parcel merchandise in the United States and internationally. The company offers GigaCloud Marketplace integrates product discovery to payments to logistics tools into one easy-to-use platform. Its marketplace connects manufacturers primarily in Asia with resellers in the United States, Asia, and Europe to execute cross-border transactions across furniture, home appliance, fitness equipment, and other large parcel categories.