GigaCloud Technology (NASDAQ:GCT) CEO Sells $2,614,200.00 in Stock

GigaCloud Technology Inc. (NASDAQ:GCT) CEO Lei Wu sold 60,000 shares of the firm’s stock in a transaction that occurred on Friday, February 27th. The stock was sold at an average price of $43.57, for a total transaction of $2,614,200.00. Following the sale, the chief executive officer owned 548,090 shares of the company’s stock, valued at approximately $23,880,281.30. The trade was a 9.87% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• On Monday, March 2nd, Lei Wu sold 30,000 shares of GigaCloud Technology stock. The shares were sold at an average price of $42.83, for a total value of $1,284,900.00.
• 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 value 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 value of $815,600.00.
• On Wednesday, January 21st, Lei Wu sold 210 shares of GigaCloud Technology stock. The shares were 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 stock was sold at an average price of $41.34, for a total value of $826,800.00.
• On Wednesday, January 14th, Lei Wu sold 20,000 shares of GigaCloud Technology stock. The shares were sold at an average price of $40.94, for a total transaction of $818,800.00.
• On Monday, January 12th, Lei Wu sold 20,000 shares of GigaCloud Technology stock. The shares were sold at an average price of $43.39, for a total transaction of $867,800.00.
• On Friday, January 9th, Lei Wu sold 20,000 shares of GigaCloud Technology stock. The stock was sold at an average price of $42.08, for a total transaction of $841,600.00.
• On Wednesday, January 7th, Lei Wu sold 20,000 shares of GigaCloud Technology stock. The shares were sold at an average price of $42.36, for a total transaction of $847,200.00.

GigaCloud Technology Trading Down 3.0%

Shares of GCT stock traded down $1.33 during trading on Monday, reaching $43.01. 994,909 shares of the company’s stock traded hands, compared to its average volume of 619,576. GigaCloud Technology Inc. has a 1 year low of $11.17 and a 1 year high of $48.00. The company has a market capitalization of $1.59 billion, a P/E ratio of 11.88 and a beta of 2.24. The firm’s 50-day moving average is $39.49 and its 200 day moving average is $34.11.

GigaCloud Technology (NASDAQ:GCT) last issued its earnings results on Thursday, February 26th. The company reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.39. GigaCloud Technology had a net margin of 10.65% and a return on equity of 30.74%. The business had revenue of $362.75 million for the quarter, compared to analysts’ expectations of $332.33 million. During the same quarter in the previous year, the firm posted $0.76 EPS. The business’s revenue for the quarter was up 22.6% compared to the same quarter last year. As a group, sell-side analysts predict that GigaCloud Technology Inc. will post 3.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. LSV Asset Management lifted its position in GigaCloud Technology by 824.2% during the fourth quarter. LSV Asset Management now owns 736,600 shares of the company’s stock valued at $28,934,000 after purchasing an additional 656,900 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of GigaCloud Technology in the 3rd quarter worth $14,335,000. UBS Group AG raised its position in shares of GigaCloud Technology by 133.8% during the 3rd quarter. UBS Group AG now owns 441,992 shares of the company’s stock valued at $12,553,000 after buying an additional 252,934 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of GigaCloud Technology by 67.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 339,885 shares of the company’s stock valued at $6,723,000 after buying an additional 137,201 shares in the last quarter. Finally, Dimensional Fund Advisors LP bought a new stake in shares of GigaCloud Technology during the 4th quarter worth $5,266,000. 34.94% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on GCT. Weiss Ratings raised GigaCloud Technology from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, January 27th. Zacks Research lowered shares of GigaCloud Technology from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 16th. Finally, Wall Street Zen raised shares of GigaCloud Technology from a “buy” rating to a “strong-buy” rating in a report on Saturday. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $24.00.

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.