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

GigaCloud Technology Inc. (NASDAQ:GCT) CEO Lei Wu sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $43.11, for a total transaction of $1,293,300.00. Following the transaction, the chief executive officer directly owned 390,000 shares in the company, valued at $16,812,900. The trade was a 7.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.

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

• On Wednesday, March 4th, Lei Wu sold 40,000 shares of GigaCloud Technology stock. The stock was 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 value 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 value of $1,284,900.00.
• 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 shares were 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 stock was 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 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 transaction 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 transaction 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 transaction of $818,800.00.

GigaCloud Technology Stock Performance

GigaCloud Technology stock traded down $0.74 during trading on Thursday, reaching $43.66. The company had a trading volume of 810,108 shares, compared to its average volume of 641,356. GigaCloud Technology Inc. has a 12-month low of $11.17 and a 12-month high of $48.00. The stock’s 50 day moving average price is $39.68 and its two-hundred day moving average price is $34.32. The firm has a market capitalization of $1.62 billion, a price-to-earnings ratio of 12.06 and a beta of 2.24.

GigaCloud Technology (NASDAQ:GCT) last announced its quarterly earnings results on Thursday, February 26th. The company reported $1.04 earnings per share 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 company had revenue of $362.75 million for the quarter, compared to analyst estimates of $332.33 million. During the same quarter last year, the business earned $0.76 EPS. GigaCloud Technology’s revenue for the quarter was up 22.6% on a year-over-year basis. As a group, research analysts expect that GigaCloud Technology Inc. will post 3.1 earnings per share for the current year.

Institutional Trading of GigaCloud Technology

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

Analyst Upgrades and Downgrades

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

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.