GigaCloud Technology Inc. (NASDAQ:GCT) CEO Sells $1,579,160.00 in Stock

GigaCloud Technology Inc. (NASDAQ:GCT) CEO Lei Wu sold 44,000 shares of the company’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $35.89, for a total transaction of $1,579,160.00. Following the completion of the transaction, the chief executive officer now owns 797,816 shares in the company, valued at $28,633,616.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Wednesday, April 24th, Lei Wu sold 44,000 shares of GigaCloud Technology stock. The shares were sold at an average price of $36.54, for a total transaction of $1,607,760.00.
• On Monday, April 22nd, Lei Wu sold 44,000 shares of GigaCloud Technology stock. The stock was sold at an average price of $35.98, for a total transaction of $1,583,120.00.
• On Friday, April 19th, Lei Wu sold 14,177 shares of GigaCloud Technology stock. The stock was sold at an average price of $36.10, for a total value of $511,789.70.
• 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 value 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 value of $1,432,640.00.
• On Friday, April 12th, Lei Wu sold 1,000 shares of GigaCloud Technology stock. The shares were 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 shares were 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 stock was 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 transaction of $29,530.00.

GigaCloud Technology Stock Down 3.9 %

Shares of GCT stock traded down $1.37 during trading hours on Monday, reaching $33.98. The company’s stock had a trading volume of 2,446,431 shares, compared to its average volume of 3,087,834. GigaCloud Technology Inc. has a fifty-two week low of $4.97 and a fifty-two week high of $45.18. The firm’s 50 day simple moving average is $33.38 and its 200-day simple moving average is $22.46. The company has a market capitalization of $1.38 billion, a price-to-earnings ratio of 14.77 and a beta of 2.27.

GigaCloud Technology (NASDAQ:GCT) last announced its quarterly earnings data on Friday, March 15th. The company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.29. GigaCloud Technology had a return on equity of 36.40% and a net margin of 13.37%. The business had revenue of $244.74 million during the quarter, compared to the consensus estimate of $220.30 million. Sell-side analysts predict that GigaCloud Technology Inc. will post 2.98 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. CWM LLC acquired a new position in GigaCloud Technology in the 4th quarter valued at approximately $30,000. Quarry LP bought a new stake in shares of GigaCloud Technology in the fourth quarter worth $47,000. PAX Financial Group LLC acquired a new stake in GigaCloud Technology in the third quarter valued at $141,000. Tucker Asset Management LLC raised its position in GigaCloud Technology by 1,499.8% during the 4th quarter. Tucker Asset Management LLC now owns 7,999 shares of the company’s stock worth $146,000 after purchasing an additional 7,499 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D bought a new stake in shares of GigaCloud Technology during the 3rd quarter valued at about $172,000. Institutional investors and hedge funds own 34.94% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Roth Mkm upped their price target 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.

GigaCloud Technology Company Profile

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.