GigaCloud Technology Inc. (NASDAQ:GCT) CEO Sells $1,583,120.00 in Stock

GigaCloud Technology Inc. (NASDAQ:GCT) CEO Lei Wu sold 44,000 shares of the firm’s stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $35.98, for a total transaction of $1,583,120.00. Following the transaction, the chief executive officer now directly owns 973,816 shares of the company’s stock, valued at $35,037,899.68. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

• On Friday, April 19th, Lei Wu sold 14,177 shares of GigaCloud Technology stock. The stock was sold at an average price of $36.10, for a total transaction of $511,789.70.
• 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 value 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 shares were 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 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 Stock Up 1.3 %

GigaCloud Technology stock opened at $36.36 on Friday. The stock has a 50-day simple moving average of $33.37 and a 200 day simple moving average of $21.92. The stock has a market capitalization of $1.48 billion, a price-to-earnings ratio of 15.81 and a beta of 2.26. GigaCloud Technology Inc. has a 12-month low of $4.93 and a 12-month high of $45.18.

GigaCloud Technology (NASDAQ:GCT) last announced its 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 company had revenue of $244.74 million during the quarter, compared to the consensus estimate of $220.30 million. As a group, sell-side analysts anticipate that GigaCloud Technology Inc. will post 2.98 EPS for the current year.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of GCT. PAX Financial Group LLC bought a new stake in GigaCloud Technology during the 3rd quarter worth about $141,000. Acadian Asset Management LLC acquired a new position in GigaCloud Technology in the third quarter valued at approximately $9,634,000. Ritholtz Wealth Management acquired a new position in GigaCloud Technology in the fourth quarter valued at approximately $295,000. WINTON GROUP Ltd bought a new position in GigaCloud Technology in the third quarter valued at approximately $258,000. Finally, New York State Common Retirement Fund acquired a new stake in GigaCloud Technology during the 3rd quarter worth $1,895,000. Institutional investors own 34.94% of the company’s stock.

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.