Lei Wu Sells 44,000 Shares of GigaCloud Technology Inc. (NASDAQ:GCT) Stock

GigaCloud Technology Inc. (NASDAQ:GCT) CEO Lei Wu sold 44,000 shares of GigaCloud Technology stock in a transaction on Monday, April 15th. The shares were sold at an average price of $32.56, for a total transaction of $1,432,640.00. Following the completion of the transaction, the chief executive officer now directly owns 1,193,816 shares of the company’s stock, valued at approximately $38,870,648.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Wednesday, April 17th, Lei Wu sold 44,000 shares of GigaCloud Technology stock. The shares were sold at an average price of $34.61, for a total transaction of $1,522,840.00.
• On Friday, April 12th, Lei Wu sold 1,000 shares of GigaCloud Technology stock. The shares were sold at an average price of $32.23, for a total transaction of $32,230.00.
• On Wednesday, April 10th, Lei Wu sold 1,000 shares of GigaCloud Technology stock. The shares were sold at an average price of $31.86, for a total transaction of $31,860.00.
• On Monday, April 8th, Lei Wu sold 20,000 shares of GigaCloud Technology stock. The shares were sold at an average price of $33.07, for a total transaction of $661,400.00.
• On Thursday, April 4th, Lei Wu sold 20,000 shares of GigaCloud Technology stock. The shares were sold at an average price of $36.39, for a total transaction of $727,800.00.
• On Monday, April 1st, Lei Wu sold 1,000 shares of GigaCloud Technology stock. The shares were sold at an average price of $29.53, for a total transaction of $29,530.00.
• On Tuesday, March 26th, Lei Wu sold 6 shares of GigaCloud Technology stock. The shares were sold at an average price of $27.64, for a total transaction of $165.84.

GigaCloud Technology Trading Up 5.3 %

GCT opened at $36.81 on Friday. The firm has a market capitalization of $1.50 billion, a PE ratio of 16.00 and a beta of 2.26. GigaCloud Technology Inc. has a twelve month low of $4.93 and a twelve month high of $45.18. The firm’s 50-day moving average price is $32.76 and its 200 day moving average price is $20.86.

GigaCloud Technology (NASDAQ:GCT) last posted its quarterly earnings results on Friday, March 15th. The company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.29. The firm had revenue of $244.74 million for the quarter, compared to analyst estimates of $220.30 million. GigaCloud Technology had a net margin of 13.37% and a return on equity of 36.40%. As a group, analysts predict that GigaCloud Technology Inc. will post 2.58 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Roth Mkm lifted their target price on shares of GigaCloud Technology from $28.00 to $35.00 and gave the company a “buy” rating in a research report on Tuesday, April 2nd.

Hedge Funds Weigh In On GigaCloud Technology

A number of institutional investors and hedge funds have recently bought and sold shares of the business. SeaCrest Wealth Management LLC acquired a new position in GigaCloud Technology during the first quarter worth about $391,000. Harbour Capital Advisors LLC acquired a new position in GigaCloud Technology in the 1st quarter valued at about $769,000. Nomura Holdings Inc. acquired a new position in GigaCloud Technology in the 4th quarter valued at about $991,000. Quadrature Capital Ltd acquired a new position in GigaCloud Technology in the 4th quarter valued at about $2,803,000. Finally, Tucker Asset Management LLC boosted its holdings in GigaCloud Technology by 1,499.8% in the 4th quarter. Tucker Asset Management LLC now owns 7,999 shares of the company’s stock valued at $146,000 after purchasing an additional 7,499 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 provides end-to-end B2B ecommerce solutions for large parcel merchandise in the United States and internationally. The company offers GigaCloud Marketplace integrates product discovery to payments to logistics tools into one easy-to-use platform. Its marketplace connects manufacturers primarily in Asia with resellers in the United States, Asia, and Europe to execute cross-border transactions across furniture, home appliance, fitness equipment, and other large parcel categories.