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

GigaCloud Technology Inc. (NASDAQ:GCT) CEO Lei Wu sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $42.13, for a total value of $1,263,900.00. Following the transaction, the chief executive officer directly owned 330,000 shares in the company, valued at $13,902,900. The trade was a 8.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• 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 stock was 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 transaction of $2,381,109.10.
• On Monday, March 2nd, Lei Wu sold 30,000 shares of GigaCloud Technology stock. The stock was sold at an average price of $42.83, for a total transaction 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.
• On Thursday, January 22nd, Lei Wu sold 20,000 shares of GigaCloud Technology stock. The shares were sold at an average price of $40.78, for a total transaction of $815,600.00.
• On Wednesday, January 21st, Lei Wu sold 210 shares of GigaCloud Technology stock. The shares were sold at an average price of $40.26, for a total value of $8,454.60.
• On Tuesday, January 20th, Lei Wu sold 1,700 shares of GigaCloud Technology stock. The stock was sold at an average price of $40.01, for a total value of $68,017.00.
• On Friday, January 16th, Lei Wu sold 20,000 shares of GigaCloud Technology stock. The stock was sold at an average price of $41.34, for a total transaction of $826,800.00.

GigaCloud Technology Trading Down 3.2%

GigaCloud Technology stock traded down $1.40 during mid-day trading on Tuesday, reaching $42.69. The company had a trading volume of 669,615 shares, compared to its average volume of 681,594. The business has a fifty day simple moving average of $39.88 and a 200 day simple moving average of $34.61. The company has a market cap of $1.58 billion, a P/E ratio of 11.79 and a beta of 2.24. GigaCloud Technology Inc. has a fifty-two week low of $11.17 and a fifty-two week high of $48.00.

GigaCloud Technology (NASDAQ:GCT) last released its quarterly earnings results on Thursday, February 26th. The company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.39. GigaCloud Technology had a return on equity of 30.74% and a net margin of 10.65%.The company had revenue of $362.75 million for the quarter, compared to analysts’ expectations of $332.33 million. During the same period in the previous year, the business posted $0.76 earnings per share. The business’s quarterly revenue was up 22.6% compared to the same quarter last year. Research analysts forecast that GigaCloud Technology Inc. will post 3.1 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Jones Financial Companies Lllp increased 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 valued at $27,000 after purchasing an additional 589 shares during the last quarter. Quarry LP purchased a new position in shares of GigaCloud Technology in the 3rd quarter worth about $29,000. Larson Financial Group LLC purchased a new stake in GigaCloud Technology during the third quarter worth about $30,000. Caitong International Asset Management Co. Ltd bought a new stake in GigaCloud Technology in the third quarter worth about $30,000. Finally, Wealth Enhancement Advisory Services LLC purchased a new position in GigaCloud Technology in the fourth quarter valued at about $44,000. Hedge funds and other institutional investors own 34.94% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on GCT shares. Weiss Ratings upgraded GigaCloud Technology from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, January 27th. Zacks Research downgraded shares of GigaCloud Technology from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 16th. Finally, Wall Street Zen upgraded shares of GigaCloud Technology from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 28th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $33.00.

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.