GigaCloud Technology Inc. (NASDAQ:GCT – Get Free Report) CEO Lei Wu sold 32,481 shares of the firm’s stock in a transaction that occurred on Friday, March 20th. The stock was sold at an average price of $40.41, for a total transaction of $1,312,557.21. Following the transaction, the chief executive officer directly owned 60,000 shares in the company, valued at $2,424,600. This represents a 35.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Lei Wu also recently made the following trade(s):
- On Thursday, March 19th, Lei Wu sold 27,519 shares of GigaCloud Technology stock. The shares were sold at an average price of $41.26, for a total value of $1,135,433.94.
- On Wednesday, March 18th, Lei Wu sold 30,000 shares of GigaCloud Technology stock. The stock was sold at an average price of $43.21, for a total value of $1,296,300.00.
- On Monday, March 16th, Lei Wu sold 30,000 shares of GigaCloud Technology stock. The stock was sold at an average price of $42.39, for a total value of $1,271,700.00.
- On Friday, March 13th, Lei Wu sold 30,000 shares of GigaCloud Technology stock. The shares were sold at an average price of $41.36, for a total value of $1,240,800.00.
- On Wednesday, March 11th, Lei Wu sold 30,000 shares of GigaCloud Technology stock. The shares were sold at an average price of $43.38, for a total value of $1,301,400.00.
- On Monday, March 9th, Lei Wu sold 30,000 shares of GigaCloud Technology stock. The shares were sold at an average price of $42.13, for a total value of $1,263,900.00.
- On Thursday, March 5th, Lei Wu sold 30,000 shares of GigaCloud Technology stock. The stock was sold at an average price of $43.11, for a total value of $1,293,300.00.
- 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 value 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 transaction of $1,284,900.00.
GigaCloud Technology Price Performance
GCT traded down $2.43 on Friday, hitting $40.31. 1,043,903 shares of the stock were exchanged, compared to its average volume of 794,764. The firm has a market capitalization of $1.49 billion, a price-to-earnings ratio of 11.14 and a beta of 2.24. GigaCloud Technology Inc. has a 12 month low of $11.17 and a 12 month high of $48.00. The business has a 50-day moving average of $40.16 and a two-hundred day moving average of $35.36.
Analyst Upgrades and Downgrades
Several research analysts have commented on the stock. Weiss Ratings upgraded shares of GigaCloud Technology from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, January 27th. Zacks Research raised GigaCloud Technology from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 10th. Finally, Wall Street Zen upgraded GigaCloud Technology from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 28th. One analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. Based on data from MarketBeat, GigaCloud Technology has a consensus rating of “Buy” and a consensus target price of $33.00.
Institutional Investors Weigh In On GigaCloud Technology
A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of GigaCloud Technology by 18.2% during the 3rd quarter. Vanguard Group Inc. now owns 803,664 shares of the company’s stock valued at $22,824,000 after purchasing an additional 123,596 shares during the last quarter. LSV Asset Management lifted its stake in GigaCloud Technology by 824.2% in the 4th 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. Geode Capital Management LLC boosted its position in GigaCloud Technology by 9.1% in the second quarter. Geode Capital Management LLC now owns 630,805 shares of the company’s stock valued at $12,479,000 after buying an additional 52,415 shares in the last quarter. State Street Corp boosted its position in GigaCloud Technology by 1.8% in the fourth quarter. State Street Corp now owns 566,091 shares of the company’s stock valued at $22,236,000 after buying an additional 9,765 shares in the last quarter. Finally, Nuveen LLC grew its stake in shares of GigaCloud Technology by 32.2% during the fourth quarter. Nuveen LLC now owns 542,454 shares of the company’s stock worth $21,308,000 after buying an additional 132,107 shares during the last quarter. 34.94% of the stock is currently owned by institutional investors and hedge funds.
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.
Further Reading
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