GigaCloud Technology (NASDAQ:GCT) CEO Lei Wu Sells 30,000 Shares

by · The Markets Daily

GigaCloud Technology Inc. (NASDAQ:GCT – Get Free Report) CEO Lei Wu sold 30,000 shares of the stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $43.21, for a total value of $1,296,300.00. Following the completion of the transaction, the chief executive officer directly owned 120,000 shares of the company’s stock, valued at approximately $5,185,200. The trade was a 20.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

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

  • On Monday, March 16th, Lei Wu sold 30,000 shares of GigaCloud Technology stock. The shares were sold at an average price of $42.39, for a total transaction of $1,271,700.00.
  • On Friday, March 13th, Lei Wu sold 30,000 shares of GigaCloud Technology stock. The stock was sold at an average price of $41.36, for a total transaction 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 transaction 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 transaction of $1,263,900.00.
  • 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 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 transaction of $1,763,200.00.
  • 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 shares were sold at an average price of $45.28, for a total transaction of $3,169,600.00.

GigaCloud Technology Trading Down 1.0%

NASDAQ:GCT traded down $0.43 during midday trading on Wednesday, hitting $42.61. 555,553 shares of the stock were exchanged, compared to its average volume of 752,970. The company has a market capitalization of $1.58 billion, a price-to-earnings ratio of 11.77 and a beta of 2.24. GigaCloud Technology Inc. has a one year low of $11.17 and a one year high of $48.00. The business has a 50-day moving average price of $40.17 and a two-hundred day moving average price of $35.21.

GigaCloud Technology (NASDAQ:GCT – Get Free Report) last issued its quarterly earnings results on Thursday, February 26th. The company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.51. GigaCloud Technology had a return on equity of 30.74% and a net margin of 10.65%.The firm had revenue of $362.75 million during the quarter, compared to analyst estimates of $332.33 million. During the same period last year, the company posted $0.76 EPS. The firm’s quarterly revenue was up 22.6% on a year-over-year basis. Sell-side analysts forecast that GigaCloud Technology Inc. will post 3.1 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Nordea Investment Management AB bought a new stake in shares of GigaCloud Technology during the 3rd quarter worth $3,852,000. Hussman Strategic Advisors Inc. acquired a new stake in shares of GigaCloud Technology during the third quarter worth $3,578,000. Teacher Retirement System of Texas acquired a new stake in shares of GigaCloud Technology during the third quarter worth $952,000. Inspire Investing LLC purchased a new stake in shares of GigaCloud Technology during the third quarter valued at $1,040,000. Finally, Picton Mahoney Asset Management purchased a new stake in shares of GigaCloud Technology during the third quarter valued at $917,000. Institutional investors own 34.94% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on GCT shares. Wall Street Zen raised GigaCloud Technology from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 28th. Zacks Research upgraded shares of GigaCloud Technology from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 10th. Finally, Weiss Ratings raised shares of GigaCloud Technology from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, January 27th. One investment analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $33.00.

Get Our Latest Stock Analysis on GigaCloud Technology

About GigaCloud Technology

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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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