Lei Wu Sells 1,700 Shares of GigaCloud Technology (NASDAQ:GCT) Stock

GigaCloud Technology Inc. (NASDAQ:GCT) CEO Lei Wu sold 1,700 shares of the business’s stock in a transaction that occurred on Tuesday, January 20th. The shares were sold at an average price of $40.01, for a total value of $68,017.00. Following the transaction, the chief executive officer directly owned 698,300 shares in the company, valued at approximately $27,938,983. This represents a 0.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

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

• 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 shares were sold at an average price of $40.26, for a total transaction of $8,454.60.
• 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.
• 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 value of $847,200.00.

GigaCloud Technology Stock Performance

GCT opened at $42.08 on Friday. The stock’s 50 day moving average price is $39.02 and its 200-day moving average price is $31.28. GigaCloud Technology Inc. has a one year low of $11.17 and a one year high of $44.71. The stock has a market cap of $1.56 billion, a price-to-earnings ratio of 12.60 and a beta of 2.28.

GigaCloud Technology (NASDAQ:GCT) last released its earnings results on Thursday, November 6th. The company reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.34. The business had revenue of $332.64 million for the quarter, compared to analyst estimates of $300.96 million. GigaCloud Technology had a return on equity of 30.43% and a net margin of 10.62%.The business’s revenue was up 9.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.15 earnings per share. As a group, analysts predict that GigaCloud Technology Inc. will post 3.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Ameritas Investment Partners Inc. lifted its stake in shares of GigaCloud Technology by 17.6% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,705 shares of the company’s stock worth $54,000 after purchasing an additional 405 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in GigaCloud Technology by 25.6% in the second quarter. Tower Research Capital LLC TRC now owns 2,372 shares of the company’s stock worth $47,000 after purchasing an additional 483 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of GigaCloud Technology by 10.2% during the fourth quarter. SG Americas Securities LLC now owns 5,249 shares of the company’s stock valued at $206,000 after buying an additional 485 shares during the last quarter. Stratos Wealth Partners LTD. boosted its holdings in shares of GigaCloud Technology by 5.6% in the 2nd quarter. Stratos Wealth Partners LTD. now owns 10,945 shares of the company’s stock valued at $217,000 after buying an additional 585 shares in the last quarter. Finally, Jones Financial Companies Lllp raised its stake in shares of GigaCloud Technology by 184.6% during the 3rd quarter. Jones Financial Companies Lllp now owns 908 shares of the company’s stock worth $27,000 after acquiring an additional 589 shares in the last quarter. 34.94% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on GCT shares. Zacks Research downgraded shares of GigaCloud Technology from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 16th. Weiss Ratings lowered GigaCloud Technology from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, January 12th. Finally, Wall Street Zen raised GigaCloud Technology from a “hold” rating to a “buy” rating in a research report on Saturday, December 13th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $24.00.

About GigaCloud Technology

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.