GigaCloud Technology (NASDAQ:GCT) CEO Lei Wu Sells 30,000 Shares

GigaCloud Technology Inc. (NASDAQ:GCT) CEO Lei Wu sold 30,000 shares of GigaCloud Technology stock in a transaction on Monday, March 16th. The stock was sold at an average price of $42.39, for a total transaction of $1,271,700.00. Following the sale, the chief executive officer directly owned 180,000 shares of the company’s stock, valued at approximately $7,630,200. This trade represents a 14.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

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

• On Wednesday, March 18th, Lei Wu sold 30,000 shares of GigaCloud Technology stock. The shares were sold at an average price of $43.21, for a total value of $1,296,300.00.
• On Friday, March 13th, Lei Wu sold 30,000 shares of GigaCloud Technology stock. The shares were sold at an average price of $41.36, for a total value of $1,240,800.00.
• On Wednesday, March 11th, Lei Wu sold 30,000 shares of GigaCloud Technology stock. The stock was sold at an average price of $43.38, for a total value of $1,301,400.00.
• On Monday, March 9th, Lei Wu sold 30,000 shares of GigaCloud Technology stock. The stock was sold at an average price of $42.13, for a total value of $1,263,900.00.
• 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 value of $1,293,300.00.
• On Wednesday, March 4th, Lei Wu sold 40,000 shares of GigaCloud Technology stock. The stock was sold at an average price of $44.08, for a total value of $1,763,200.00.
• On Tuesday, March 3rd, Lei Wu sold 58,090 shares of GigaCloud Technology stock. The shares were sold at an average price of $40.99, for a total value 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 stock was sold at an average price of $45.28, for a total transaction of $3,169,600.00.

GigaCloud Technology Trading Down 1.0%

Shares of GigaCloud Technology stock opened at $42.61 on Thursday. The company has a fifty day simple moving average of $40.17 and a 200-day simple moving average of $35.21. The stock has a market cap of $1.58 billion, a price-to-earnings ratio of 11.77 and a beta of 2.24. GigaCloud Technology Inc. has a 12-month low of $11.17 and a 12-month high of $48.00.

GigaCloud Technology (NASDAQ:GCT) last announced its quarterly earnings results on Thursday, February 26th. The company reported $1.16 EPS for the quarter, topping the consensus estimate of $0.65 by $0.51. GigaCloud Technology had a net margin of 10.65% and a return on equity of 30.74%. The firm had revenue of $362.75 million for the quarter, compared to analyst estimates of $332.33 million. During the same period last year, the business earned $0.76 EPS. GigaCloud Technology’s revenue for the quarter was up 22.6% compared to the same quarter last year. On average, analysts forecast that GigaCloud Technology Inc. will post 3.1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On GigaCloud Technology

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Jones Financial Companies Lllp raised its stake in GigaCloud Technology by 184.6% during the 3rd quarter. Jones Financial Companies Lllp now owns 908 shares of the company’s stock valued at $27,000 after acquiring an additional 589 shares during the last quarter. Quarry LP purchased a new position in shares of GigaCloud Technology in the 3rd quarter valued at approximately $29,000. Larson Financial Group LLC acquired a new position in shares of GigaCloud Technology in the third quarter valued at approximately $30,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of GigaCloud Technology during the third quarter worth approximately $30,000. Finally, Wealth Enhancement Advisory Services LLC purchased a new stake in shares of GigaCloud Technology during the fourth quarter worth approximately $44,000. Hedge funds and other institutional investors own 34.94% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Weiss Ratings raised GigaCloud Technology from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, January 27th. Zacks Research upgraded GigaCloud Technology from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 10th. Finally, Wall Street Zen upgraded shares of GigaCloud Technology from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 28th. One investment analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the stock. According to MarketBeat.com, GigaCloud Technology has a consensus rating of “Buy” and an average target price of $33.00.

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.