GigaCloud Technology (NASDAQ:GCT) CEO Lei Wu Sells 20,000 Shares

GigaCloud Technology Inc. (NASDAQ:GCT) CEO Lei Wu sold 20,000 shares of the stock in a transaction that occurred on Wednesday, January 14th. The stock was sold at an average price of $40.94, for a total value of $818,800.00. Following the completion of the transaction, the chief executive officer owned 740,000 shares in the company, valued at approximately $30,295,600. The trade was a 2.63% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

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

• On Friday, January 16th, Lei Wu sold 20,000 shares of GigaCloud Technology stock. The shares were sold at an average price of $41.34, for a total value of $826,800.00.
• On Monday, January 12th, Lei Wu sold 20,000 shares of GigaCloud Technology stock. The stock was sold at an average price of $43.39, for a total value of $867,800.00.
• On Friday, January 9th, Lei Wu sold 20,000 shares of GigaCloud Technology stock. The stock was sold at an average price of $42.08, for a total value of $841,600.00.
• On Wednesday, January 7th, Lei Wu sold 20,000 shares of GigaCloud Technology stock. The shares were sold at an average price of $42.36, for a total transaction of $847,200.00.

GigaCloud Technology Trading Down 2.8%

Shares of GCT stock opened at $40.41 on Friday. The firm has a fifty day simple moving average of $38.16 and a two-hundred day simple moving average of $30.58. GigaCloud Technology Inc. has a 12 month low of $11.17 and a 12 month high of $44.71. The firm has a market capitalization of $1.50 billion, a PE ratio of 12.10 and a beta of 2.28.

GigaCloud Technology (NASDAQ:GCT) last released its quarterly earnings data on Thursday, November 6th. The company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.34. The firm had revenue of $332.64 million for the quarter, compared to analyst estimates of $300.96 million. GigaCloud Technology had a net margin of 10.62% and a return on equity of 30.43%. The business’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period last year, the firm earned $1.15 earnings per share. On average, equities analysts predict that GigaCloud Technology Inc. will post 3.1 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on GCT shares. Zacks Research upgraded GigaCloud Technology from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 10th. Wall Street Zen upgraded GigaCloud Technology from a “hold” rating to a “buy” rating in a report on Saturday, December 13th. Finally, Weiss Ratings cut GigaCloud Technology from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $24.00.

Institutional Investors Weigh In On GigaCloud Technology

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Jones Financial Companies Lllp lifted its position in shares of GigaCloud Technology by 184.6% during the 3rd quarter. Jones Financial Companies Lllp now owns 908 shares of the company’s stock worth $27,000 after buying an additional 589 shares in the last quarter. Quarry LP purchased a new stake in shares of GigaCloud Technology during the third quarter valued at approximately $29,000. Larson Financial Group LLC bought a new stake in GigaCloud Technology during the third quarter worth $30,000. Caitong International Asset Management Co. Ltd bought a new stake in GigaCloud Technology during the third quarter worth $30,000. Finally, Ameritas Advisory Services LLC purchased a new position in GigaCloud Technology in the second quarter worth $35,000. Hedge funds and other institutional investors own 34.94% of the company’s stock.

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.