GigaCloud Technology (NASDAQ:GCT) CEO Lei Wu Sells 40,000 Shares

GigaCloud Technology Inc. (NASDAQ:GCT) CEO Lei Wu sold 40,000 shares of the business’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $44.08, for a total value of $1,763,200.00. Following the completion of the transaction, the chief executive officer directly owned 420,000 shares of the company’s stock, valued at approximately $18,513,600. This trade represents a 8.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

• On Thursday, March 5th, Lei Wu sold 30,000 shares of GigaCloud Technology stock. The shares were sold at an average price of $43.11, for a total transaction of $1,293,300.00.
• On Tuesday, March 3rd, Lei Wu sold 58,090 shares of GigaCloud Technology stock. The stock was sold at an average price of $40.99, for a total transaction of $2,381,109.10.
• 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 transaction 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 transaction 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 shares were 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 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 shares were 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 value of $818,800.00.

GigaCloud Technology Stock Down 1.7%

Shares of GigaCloud Technology stock traded down $0.74 during trading hours on Thursday, reaching $43.66. 810,108 shares of the stock traded hands, compared to its average volume of 641,356. GigaCloud Technology Inc. has a one year low of $11.17 and a one year high of $48.00. The firm has a market capitalization of $1.62 billion, a price-to-earnings ratio of 12.06 and a beta of 2.24. The company has a 50 day moving average price of $39.68 and a 200 day moving average price of $34.32.

GigaCloud Technology (NASDAQ:GCT) last posted its quarterly earnings data on Thursday, February 26th. The company reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.39. The company had revenue of $362.75 million for 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 firm’s revenue was up 22.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.76 earnings per share. Sell-side analysts anticipate that GigaCloud Technology Inc. will post 3.1 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On GigaCloud Technology

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

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.