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

GigaCloud Technology Inc. (NASDAQ:GCT) CEO Lei Wu sold 30,000 shares of GigaCloud Technology stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $42.13, for a total value of $1,263,900.00. Following the sale, the chief executive officer directly owned 330,000 shares of the company’s stock, valued at $13,902,900. This trade represents a 8.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Thursday, March 5th, Lei Wu sold 30,000 shares of GigaCloud Technology stock. The stock was sold at an average price of $43.11, for a total transaction of $1,293,300.00.
• On Wednesday, March 4th, Lei Wu sold 40,000 shares of GigaCloud Technology stock. The shares were sold at an average price of $44.08, for a total transaction 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 transaction 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.
• On Thursday, January 22nd, Lei Wu sold 20,000 shares of GigaCloud Technology stock. The shares were sold at an average price of $40.78, for a total transaction of $815,600.00.
• On Wednesday, January 21st, Lei Wu sold 210 shares of GigaCloud Technology stock. The stock was sold at an average price of $40.26, for a total value of $8,454.60.
• On Tuesday, January 20th, Lei Wu sold 1,700 shares of GigaCloud Technology stock. The stock was sold at an average price of $40.01, for a total value of $68,017.00.
• On Friday, January 16th, Lei Wu sold 20,000 shares of GigaCloud Technology stock. The shares were sold at an average price of $41.34, for a total value of $826,800.00.

GigaCloud Technology Stock Up 2.6%

Shares of GCT stock opened at $43.82 on Thursday. GigaCloud Technology Inc. has a 52-week low of $11.17 and a 52-week high of $48.00. The stock has a market cap of $1.62 billion, a PE ratio of 12.10 and a beta of 2.24. The business has a 50-day simple moving average of $39.97 and a 200-day simple moving average of $34.68.

GigaCloud Technology (NASDAQ:GCT) last posted its 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 return on equity of 30.74% and a net margin of 10.65%.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 company earned $0.76 earnings per share. GigaCloud Technology’s revenue for the quarter was up 22.6% compared to the same quarter last year. Sell-side analysts anticipate that GigaCloud Technology Inc. will post 3.1 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Zacks Research cut shares of GigaCloud Technology from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 16th. Weiss Ratings upgraded shares of GigaCloud Technology from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, January 27th. Finally, Wall Street Zen raised shares of GigaCloud Technology from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 28th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, GigaCloud Technology has a consensus rating of “Moderate Buy” and a consensus price target of $33.00.

Institutional Trading of GigaCloud Technology

Several institutional investors have recently bought and sold shares of the business. Jones Financial Companies Lllp increased its position in shares of GigaCloud Technology by 184.6% in the third quarter. Jones Financial Companies Lllp now owns 908 shares of the company’s stock valued at $27,000 after buying an additional 589 shares in the last quarter. Quarry LP purchased a new position in shares of GigaCloud Technology during the 3rd quarter valued at approximately $29,000. Larson Financial Group LLC acquired a new stake in GigaCloud Technology in the 3rd quarter valued at $30,000. Caitong International Asset Management Co. Ltd purchased a new stake in GigaCloud Technology in the 3rd quarter worth $30,000. Finally, Wealth Enhancement Advisory Services LLC purchased a new stake in GigaCloud Technology in the 4th quarter worth $44,000. 34.94% of the stock is owned by institutional investors and hedge funds.

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.