GigaCloud Technology Inc. (NASDAQ:GCT) CEO Sells $1,607,760.00 in Stock

Posted by James Nelson on Apr 26th, 2024

GigaCloud Technology Inc. (NASDAQ:GCT – Get Free Report) CEO Lei Wu sold 44,000 shares of the stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $36.54, for a total value of $1,607,760.00. Following the completion of the transaction, the chief executive officer now owns 885,816 shares in the company, valued at approximately $32,367,716.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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

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 value 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 stock was 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 stock was sold at an average price of $32.23, for a total value 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 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 stock was 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 Trading Down 2.8 %

Shares of GCT traded down $1.01 on Friday, reaching $35.35. 1,786,756 shares of the company’s stock traded hands, compared to its average volume of 3,095,743. The stock has a market cap of $1.44 billion, a PE ratio of 15.37 and a beta of 2.26. The stock’s 50 day simple moving average is $33.39 and its two-hundred day simple moving average is $22.10. GigaCloud Technology Inc. has a 52-week low of $4.93 and a 52-week high of $45.18.

GigaCloud Technology (NASDAQ:GCT – Get Free Report) last issued its quarterly earnings results on Friday, March 15th. The company reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.29. The company 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%. Analysts forecast that GigaCloud Technology Inc. will post 2.98 earnings per share for the current year.

Analyst Ratings Changes

Separately, Roth Mkm increased their price target on GigaCloud Technology from $28.00 to $35.00 and gave the company a “buy” rating in a research report on Tuesday, April 2nd.

Read Our Latest Report on GCT

Institutional Trading of GigaCloud Technology

A number of institutional investors and hedge funds have recently modified their holdings of the business. Acadian Asset Management LLC purchased a new stake in shares of GigaCloud Technology during the third quarter valued at approximately $9,634,000. New York State Common Retirement Fund bought a new stake in shares of GigaCloud Technology in the third quarter valued at $1,895,000. Quadrature Capital Ltd bought a new stake in shares of GigaCloud Technology in the fourth quarter valued at $2,803,000. Pacific Ridge Capital Partners LLC raised its stake in shares of GigaCloud Technology by 27.1% in the fourth quarter. Pacific Ridge Capital Partners LLC now owns 84,617 shares of the company’s stock valued at $1,548,000 after buying an additional 18,049 shares during the period. Finally, Nomura Holdings Inc. bought a new stake in shares of GigaCloud Technology in the fourth quarter valued at $991,000. 34.94% of the stock is owned by hedge funds and other institutional investors.

GigaCloud Technology Company Profile

(Get Free Report)

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.