Insider Selling: GigaCloud Technology Inc. (NASDAQ:GCT) CEO Sells 44,000 Shares of Stock

GigaCloud Technology Inc. (NASDAQ:GCT) CEO Lei Wu sold 44,000 shares of the stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $35.98, for a total value of $1,583,120.00. Following the transaction, the chief executive officer now owns 973,816 shares of the company’s stock, valued at $35,037,899.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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

• On Wednesday, April 24th, Lei Wu sold 44,000 shares of GigaCloud Technology stock. The shares were sold at an average price of $36.54, for a total transaction of $1,607,760.00.
• On Friday, April 19th, Lei Wu sold 14,177 shares of GigaCloud Technology stock. The shares were sold at an average price of $36.10, for a total value 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 shares were sold at an average price of $32.56, for a total transaction 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 transaction 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 value 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 value of $727,800.00.
• On Monday, April 1st, Lei Wu sold 1,000 shares of GigaCloud Technology stock. The stock was sold at an average price of $29.53, for a total value 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 Performance

Shares of NASDAQ:GCT opened at $35.35 on Friday. GigaCloud Technology Inc. has a 52 week low of $4.93 and a 52 week high of $45.18. The company has a market capitalization of $1.44 billion, a PE ratio of 15.37 and a beta of 2.26. The company has a 50 day moving average price of $33.39 and a two-hundred day moving average price of $22.10.

GigaCloud Technology (NASDAQ:GCT) last posted its earnings results on Friday, March 15th. The company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.29. GigaCloud Technology had a return on equity of 36.40% and a net margin of 13.37%. The firm had revenue of $244.74 million during the quarter, compared to analysts’ expectations of $220.30 million. On average, sell-side analysts forecast that GigaCloud Technology Inc. will post 2.98 earnings per share for the current year.

Analyst Ratings Changes

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

Institutional Trading of GigaCloud Technology

A number of large investors have recently bought and sold shares of GCT. CWM LLC acquired a new position in shares of GigaCloud Technology in the fourth quarter valued at approximately $30,000. Quarry LP acquired a new position in GigaCloud Technology in the 4th quarter worth $47,000. PAX Financial Group LLC bought a new position in GigaCloud Technology during the 3rd quarter worth about $141,000. Tucker Asset Management LLC raised its stake in shares of 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 period. Finally, State of New Jersey Common Pension Fund D bought a new stake in shares of GigaCloud Technology in the third quarter valued at about $172,000. 34.94% of the stock is owned by institutional investors.

GigaCloud Technology Company Profile

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.