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 the business’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $42.83, for a total value of $1,284,900.00. Following the completion of the transaction, the chief executive officer directly owned 518,090 shares of the company’s stock, valued at approximately $22,189,794.70. The trade was a 5.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

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

• On Friday, February 27th, Lei Wu sold 60,000 shares of GigaCloud Technology stock. The shares were sold at an average price of $43.57, for a total value 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 stock was 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 shares were 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 stock was sold at an average price of $40.94, for a total value of $818,800.00.
• On Monday, January 12th, Lei Wu sold 20,000 shares of GigaCloud Technology stock. The stock was sold at an average price of $43.39, for a total value of $867,800.00.
• On Friday, January 9th, Lei Wu sold 20,000 shares of GigaCloud Technology stock. The shares were 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 stock was sold at an average price of $42.36, for a total transaction of $847,200.00.

GigaCloud Technology Price Performance

NASDAQ:GCT traded down $1.33 during trading hours on Monday, hitting $43.01. 994,909 shares of the company were exchanged, compared to its average volume of 619,576. The stock has a market capitalization of $1.59 billion, a price-to-earnings ratio of 11.88 and a beta of 2.24. GigaCloud Technology Inc. has a 52-week low of $11.17 and a 52-week high of $48.00. The company’s 50 day moving average price is $39.49 and its 200-day moving average price is $34.11.

GigaCloud Technology (NASDAQ:GCT) last posted its quarterly earnings data on Thursday, February 26th. The company reported $1.04 EPS for the quarter, topping the consensus estimate of $0.65 by $0.39. The business had revenue of $362.75 million during the quarter, compared to the consensus estimate of $332.33 million. GigaCloud Technology had a net margin of 10.65% and a return on equity of 30.74%. The business’s revenue for the quarter was up 22.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.76 earnings per share. On average, equities analysts predict that GigaCloud Technology Inc. will post 3.1 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently commented on GCT. Wall Street Zen raised GigaCloud Technology from a “buy” rating to a “strong-buy” rating in a report on Saturday. Weiss Ratings upgraded shares of GigaCloud Technology from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, January 27th. Finally, Zacks Research downgraded shares of GigaCloud Technology from a “strong-buy” rating to a “hold” rating in a report on Friday, January 16th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.00.

Institutional Inflows and Outflows

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