GigaCloud Technology Inc. (NASDAQ:GCT) CEO Sells $511,789.70 in Stock

Posted by Max Byerly on Apr 25th, 2024

GigaCloud Technology Inc. (NASDAQ:GCT – Get Free Report) CEO Lei Wu sold 14,177 shares of the stock in a transaction on Friday, April 19th. The stock was sold at an average price of $36.10, for a total value of $511,789.70. Following the transaction, 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 filing with the Securities & Exchange Commission, which is available 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 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 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 shares were 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 value of $165.84.

GigaCloud Technology Stock Performance

Shares of NASDAQ:GCT opened at $35.91 on Thursday. GigaCloud Technology Inc. has a twelve month low of $4.93 and a twelve month high of $45.18. The firm has a market cap of $1.46 billion, a PE ratio of 15.61 and a beta of 2.26. The business has a fifty day moving average of $33.30 and a 200-day moving average of $21.82.

GigaCloud Technology (NASDAQ:GCT – Get Free Report) last announced 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. The company had revenue of $244.74 million during the quarter, compared to analyst estimates of $220.30 million. GigaCloud Technology had a return on equity of 36.40% and a net margin of 13.37%. On average, analysts anticipate that GigaCloud Technology Inc. will post 2.98 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Read Our Latest Research Report on GCT

Hedge Funds Weigh In On GigaCloud Technology

Several hedge funds have recently added to or reduced their stakes in GCT. CWM LLC bought a new position in GigaCloud Technology in the fourth quarter valued at about $30,000. Quarry LP bought a new position in GigaCloud Technology in the fourth quarter valued at about $47,000. PAX Financial Group LLC bought a new position in GigaCloud Technology in the third quarter valued at about $141,000. Tucker Asset Management LLC boosted its holdings in GigaCloud Technology by 1,499.8% in the fourth quarter. Tucker Asset Management LLC now owns 7,999 shares of the company’s stock valued at $146,000 after acquiring an additional 7,499 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D bought a new position in GigaCloud Technology in the third quarter valued at about $172,000. Institutional investors own 34.94% of the company’s stock.

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.