GigaCloud Technology (NASDAQ:GCT) Insider Sells $259,400.00 in Stock

by · The Cerbat Gem

GigaCloud Technology Inc. (NASDAQ:GCT – Get Free Report) insider Marshall Bernes sold 5,000 shares of the business’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $51.88, for a total value of $259,400.00. Following the transaction, the insider owned 63,150 shares of the company’s stock, valued at $3,276,222. This trade represents a 7.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

GigaCloud Technology Price Performance

Shares of GCT traded up $0.14 during trading hours on Wednesday, reaching $51.66. 430,750 shares of the company’s stock traded hands, compared to its average volume of 761,553. GigaCloud Technology Inc. has a twelve month low of $25.15 and a twelve month high of $56.27. The business’s fifty day simple moving average is $37.43 and its two-hundred day simple moving average is $39.85. The firm has a market capitalization of $1.90 billion, a price-to-earnings ratio of 12.21 and a beta of 1.65.

GigaCloud Technology (NASDAQ:GCT – Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.26. The firm had revenue of $411.64 million during the quarter, compared to analyst estimates of $380.63 million. GigaCloud Technology had a net margin of 10.65% and a return on equity of 31.42%. On average, equities research analysts expect that GigaCloud Technology Inc. will post 4.18 EPS for the current year.

Wall Street Analysts Forecast Growth

GCT has been the subject of a number of research analyst reports. Wall Street Zen downgraded GigaCloud Technology from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 16th. Weiss Ratings downgraded GigaCloud Technology from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, June 8th. Finally, Zacks Research lowered GigaCloud Technology from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 5th. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company currently has an average rating of “Hold”.

View Our Latest Stock Analysis on GCT

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Strs Ohio increased its stake in shares of GigaCloud Technology by 3.7% in the first quarter. Strs Ohio now owns 11,100 shares of the company’s stock worth $504,000 after acquiring an additional 400 shares during the last quarter. Tower Research Capital LLC TRC increased 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 buying an additional 483 shares during the last quarter. SG Americas Securities LLC raised its position in 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 acquiring an additional 485 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in GigaCloud Technology by 14.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,853 shares of the company’s stock valued at $166,000 after acquiring an additional 759 shares in the last quarter. Finally, Arete Wealth Advisors LLC lifted its stake in GigaCloud Technology by 6.7% in the first quarter. Arete Wealth Advisors LLC now owns 15,145 shares of the company’s stock valued at $687,000 after acquiring an additional 945 shares during the last quarter. 34.94% of the stock is owned by hedge funds and other institutional investors.

GigaCloud Technology Company Profile

(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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