GigaCloud Technology (NASDAQ:GCT) CEO Sells $68,017.00 in Stock

by · The Cerbat Gem

GigaCloud Technology Inc. (NASDAQ:GCT – Get Free Report) CEO Lei Wu sold 1,700 shares of the company’s stock in a transaction on Tuesday, January 20th. The shares were sold at an average price of $40.01, for a total transaction of $68,017.00. Following the sale, the chief executive officer directly owned 698,300 shares in the company, valued at approximately $27,938,983. The trade was a 0.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

  • 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 stock was sold at an average price of $40.26, for a total value 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 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 value of $847,200.00.

GigaCloud Technology Price Performance

NASDAQ GCT traded up $0.87 during trading on Thursday, hitting $40.51. The company’s stock had a trading volume of 606,753 shares, compared to its average volume of 554,568. GigaCloud Technology Inc. has a fifty-two week low of $11.17 and a fifty-two week high of $44.71. The company has a market cap of $1.50 billion, a PE ratio of 12.13 and a beta of 2.28. The business’s 50 day simple moving average is $38.79 and its 200-day simple moving average is $31.12.

GigaCloud Technology (NASDAQ:GCT – Get Free Report) last posted its quarterly earnings data on Thursday, November 6th. The company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.65 by $0.34. GigaCloud Technology had a net margin of 10.62% and a return on equity of 30.43%. The business had revenue of $332.64 million during the quarter, compared to the consensus estimate of $300.96 million. During the same period in the previous year, the firm posted $1.15 earnings per share. The business’s revenue for the quarter was up 9.7% compared to the same quarter last year. Analysts expect that GigaCloud Technology Inc. will post 3.1 EPS for the current fiscal year.

Institutional Trading of GigaCloud Technology

Several hedge funds and other institutional investors have recently modified their holdings of GCT. Jones Financial Companies Lllp boosted its holdings in shares of GigaCloud Technology by 184.6% during the third 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 period. Quarry LP bought a new stake in shares of GigaCloud Technology in the third quarter valued at about $29,000. Larson Financial Group LLC acquired a new stake in shares of GigaCloud Technology during the 3rd quarter worth approximately $30,000. Caitong International Asset Management Co. Ltd acquired a new stake in GigaCloud Technology during the third quarter worth $30,000. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in GigaCloud Technology in the fourth quarter valued at about $44,000. Institutional investors and hedge funds own 34.94% of the company’s stock.

Analyst Upgrades and Downgrades

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

View Our Latest Stock Analysis on GCT

About GigaCloud Technology

(Get Free Report)

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.

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