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

GigaCloud Technology Inc. (NASDAQ:GCT) CEO Lei Wu sold 30,000 shares of the company’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $42.39, for a total transaction of $1,271,700.00. Following the completion of the sale, the chief executive officer directly owned 180,000 shares in the company, valued at approximately $7,630,200. This represents a 14.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

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

• On Wednesday, March 18th, Lei Wu sold 30,000 shares of GigaCloud Technology stock. The stock was sold at an average price of $43.21, for a total transaction of $1,296,300.00.
• On Friday, March 13th, Lei Wu sold 30,000 shares of GigaCloud Technology stock. The shares were 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 stock was sold at an average price of $42.13, for a total value of $1,263,900.00.
• On Thursday, March 5th, Lei Wu sold 30,000 shares of GigaCloud Technology stock. The stock was sold at an average price of $43.11, for a total value of $1,293,300.00.
• On Wednesday, March 4th, Lei Wu sold 40,000 shares of GigaCloud Technology stock. The shares were sold at an average price of $44.08, for a total value of $1,763,200.00.
• On Tuesday, March 3rd, Lei Wu sold 58,090 shares of GigaCloud Technology stock. The shares were sold at an average price of $40.99, for a total value 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 value of $1,284,900.00.
• On Friday, February 27th, Lei Wu sold 60,000 shares of GigaCloud Technology stock. The stock was sold at an average price of $43.57, for a total value of $2,614,200.00.
• On Thursday, February 26th, Lei Wu sold 70,000 shares of GigaCloud Technology stock. The stock was sold at an average price of $45.28, for a total value of $3,169,600.00.

GigaCloud Technology Stock Down 1.0%

GCT traded down $0.43 during trading on Wednesday, hitting $42.61. The company’s stock had a trading volume of 555,553 shares, compared to its average volume of 752,970. The firm has a market capitalization of $1.58 billion, a P/E ratio of 11.77 and a beta of 2.24. GigaCloud Technology Inc. has a twelve month low of $11.17 and a twelve month high of $48.00. The stock’s fifty day moving average price is $40.17 and its 200-day moving average price is $35.21.

GigaCloud Technology (NASDAQ:GCT) last announced its quarterly earnings data on Thursday, February 26th. The company reported $1.16 EPS for the quarter, topping the consensus estimate of $0.65 by $0.51. GigaCloud Technology had a net margin of 10.65% and a return on equity of 30.74%. The company had revenue of $362.75 million during the quarter, compared to the consensus estimate of $332.33 million. During the same quarter last year, the firm posted $0.76 EPS. The company’s quarterly revenue was up 22.6% on a year-over-year basis. Equities research analysts expect that GigaCloud Technology Inc. will post 3.1 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On GigaCloud Technology

Large investors have recently modified their holdings of the company. Invesco Ltd. grew its position in GigaCloud Technology by 211.6% in the 4th quarter. Invesco Ltd. now owns 145,439 shares of the company’s stock valued at $5,713,000 after purchasing an additional 98,763 shares during the period. State of Tennessee Department of Treasury acquired a new position in GigaCloud Technology during the fourth quarter worth $322,000. Fuller & Thaler Asset Management Inc. acquired a new position in GigaCloud Technology during the fourth quarter worth $516,000. NewEdge Advisors LLC lifted its stake in shares of GigaCloud Technology by 3,011.7% in the fourth quarter. NewEdge Advisors LLC now owns 11,451 shares of the company’s stock valued at $450,000 after buying an additional 11,083 shares in the last quarter. Finally, Empowered Funds LLC lifted its stake in shares of GigaCloud Technology by 4.0% in the fourth quarter. Empowered Funds LLC now owns 170,081 shares of the company’s stock valued at $6,681,000 after buying an additional 6,596 shares in the last quarter. 34.94% of the stock is currently owned by institutional investors.

GigaCloud Technology Company Profile

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.