Lei Wu Sells 1,000 Shares of GigaCloud Technology Inc. (NASDAQ:GCT) Stock

GigaCloud Technology Inc. (NASDAQ:GCT) CEO Lei Wu sold 1,000 shares of the stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $32.23, for a total value of $32,230.00. Following the transaction, the chief executive officer now directly owns 1,237,816 shares of the company’s stock, valued at $39,894,809.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Monday, April 15th, Lei Wu sold 44,000 shares of GigaCloud Technology stock. The shares were sold at an average price of $32.56, for a total value of $1,432,640.00.
• 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 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 stock was sold at an average price of $27.64, for a total value of $165.84.

GigaCloud Technology Stock Down 1.1 %

Shares of GCT stock traded down $0.38 during trading hours on Wednesday, reaching $34.71. The company’s stock had a trading volume of 2,387,945 shares, compared to its average volume of 3,125,042. The firm’s 50 day simple moving average is $32.50 and its 200-day simple moving average is $20.58. The company has a market capitalization of $1.41 billion, a price-to-earnings ratio of 14.95 and a beta of 2.26. GigaCloud Technology Inc. has a fifty-two week low of $4.93 and a fifty-two week high of $45.18.

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

Institutional Investors Weigh In On GigaCloud Technology

Hedge funds have recently modified their holdings of the company. Morgan Stanley bought a new position in GigaCloud Technology during the 4th quarter worth $25,000. State of Wyoming bought a new position in GigaCloud Technology during the 2nd quarter worth $27,000. CWM LLC bought a new position in GigaCloud Technology during the 4th quarter worth $30,000. Quarry LP bought a new position in GigaCloud Technology during the 4th quarter worth $47,000. Finally, UBS Group AG bought a new position in shares of GigaCloud Technology in the 3rd quarter worth about $61,000. Institutional investors and hedge funds own 34.94% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Roth Mkm increased their price target on GigaCloud Technology from $28.00 to $35.00 and gave the stock a “buy” rating in a research 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.