Insider Selling: GigaCloud Technology Inc. (NASDAQ:GCT) CEO Sells 14,177 Shares of Stock

GigaCloud Technology Inc. (NASDAQ:GCT) CEO Lei Wu sold 14,177 shares of the business’s stock in a transaction dated Friday, April 19th. The stock was sold at an average price of $36.10, for a total value of $511,789.70. Following the transaction, the chief executive officer now directly owns 1,047,639 shares of the company’s stock, valued at $37,819,767.90. The sale 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 stock was sold at an average price of $34.61, for a total transaction of $1,522,840.00.
• On Monday, April 15th, Lei Wu sold 44,000 shares of GigaCloud Technology stock. The stock was sold at an average price of $32.56, for a total value of $1,432,640.00.
• 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 value of $32,230.00.
• On Wednesday, April 10th, Lei Wu sold 1,000 shares of GigaCloud Technology stock. The stock was sold at an average price of $31.86, for a total value 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 stock was 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 Down 0.2 %

GCT stock opened at $37.00 on Wednesday. The company has a market capitalization of $1.51 billion, a P/E ratio of 16.09 and a beta of 2.27. The business has a 50 day simple moving average of $33.23 and a 200-day simple moving average of $21.72. GigaCloud Technology Inc. has a twelve month low of $4.93 and a twelve month high of $45.18.

GigaCloud Technology (NASDAQ:GCT) last issued 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. GigaCloud Technology had a net margin of 13.37% and a return on equity of 36.40%. The firm had revenue of $244.74 million during the quarter, compared to analysts’ expectations of $220.30 million. Research analysts predict that GigaCloud Technology Inc. will post 2.58 EPS for the current fiscal year.

Institutional Investors Weigh In On GigaCloud Technology

A number of institutional investors and hedge funds have recently made changes to their positions in GCT. Acadian Asset Management LLC acquired a new position in GigaCloud Technology in the 3rd quarter valued at about $9,634,000. New York State Common Retirement Fund purchased a new position in shares of GigaCloud Technology in the 3rd quarter valued at approximately $1,895,000. Quadrature Capital Ltd acquired a new position in shares of GigaCloud Technology in the fourth quarter valued at approximately $2,803,000. Pacific Ridge Capital Partners LLC purchased a new stake in shares of GigaCloud Technology during the third quarter worth approximately $586,000. Finally, Nomura Holdings Inc. purchased a new stake in shares of GigaCloud Technology during the fourth quarter worth approximately $991,000. 34.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Roth Mkm raised their price objective on GigaCloud Technology from $28.00 to $35.00 and gave the stock a “buy” rating in a report on Tuesday, April 2nd.

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.