Insider Selling: GigaCloud Technology Inc. (NASDAQ:GCT) CEO Sells $1,583,120.00 in Stock

GigaCloud Technology Inc. (NASDAQ:GCT) CEO Lei Wu sold 44,000 shares of the stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $35.98, for a total value of $1,583,120.00. Following the transaction, the chief executive officer now directly owns 973,816 shares of the company’s stock, valued at $35,037,899.68. The sale was disclosed in a filing with the SEC, which is available at this link.

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

• On Wednesday, April 24th, Lei Wu sold 44,000 shares of GigaCloud Technology stock. The stock was sold at an average price of $36.54, for a total transaction of $1,607,760.00.
• 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 shares were sold at an average price of $34.61, for a total transaction of $1,522,840.00.
• 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 transaction 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 shares were sold at an average price of $31.86, for a total transaction 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 transaction 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 transaction 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 Trading Down 2.8 %

Shares of NASDAQ GCT opened at $35.35 on Friday. The company has a market capitalization of $1.44 billion, a price-to-earnings ratio of 15.37 and a beta of 2.26. GigaCloud Technology Inc. has a twelve month low of $4.93 and a twelve month high of $45.18. The business has a 50 day simple moving average of $33.39 and a 200-day simple moving average of $22.10.

GigaCloud Technology (NASDAQ:GCT) last released its quarterly earnings data on Friday, March 15th. The company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.29. The firm had revenue of $244.74 million for the quarter, compared to analyst estimates of $220.30 million. GigaCloud Technology had a net margin of 13.37% and a return on equity of 36.40%. As a group, equities analysts predict that GigaCloud Technology Inc. will post 2.98 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. CWM LLC bought a new stake in shares of GigaCloud Technology during the fourth quarter valued at approximately $30,000. Quarry LP acquired a new position in GigaCloud Technology during the 4th quarter worth $47,000. PAX Financial Group LLC bought a new position in shares of GigaCloud Technology in the third quarter worth $141,000. Tucker Asset Management LLC increased its holdings in shares of GigaCloud Technology by 1,499.8% during the fourth quarter. Tucker Asset Management LLC now owns 7,999 shares of the company’s stock valued at $146,000 after purchasing an additional 7,499 shares during the period. Finally, State of New Jersey Common Pension Fund D bought a new stake in shares of GigaCloud Technology during the third quarter valued at about $172,000. Institutional investors own 34.94% of the company’s stock.

About GigaCloud Technology

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.