Insider Selling: GigaCloud Technology (NASDAQ:GCT) Director Sells $78,570.00 in Stock

GigaCloud Technology Inc. (NASDAQ:GCT) Director Zhiwu Chen sold 1,500 shares of GigaCloud Technology stock in a transaction on Monday, September 14th. The shares were sold at an average price of $52.38, for a total value of $78,570.00. Following the transaction, the director owned 25,557 shares of the company’s stock, valued at $1,338,675.66. The trade was a 5.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Zhiwu Chen also recently made the following trade(s):

• On Wednesday, September 16th, Zhiwu Chen sold 1,500 shares of GigaCloud Technology stock. The shares were sold at an average price of $52.96, for a total value of $79,440.00.

GigaCloud Technology Price Performance

GCT opened at $52.86 on Friday. GigaCloud Technology Inc. has a 1 year low of $25.39 and a 1 year high of $56.27. The stock has a 50-day moving average price of $47.25 and a 200-day moving average price of $42.29. The firm has a market cap of $1.89 billion, a PE ratio of 12.50 and a beta of 1.65.

GigaCloud Technology (NASDAQ:GCT) last released its quarterly earnings data on Thursday, August 6th. The company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.26. The business had revenue of $411.64 million during the quarter, compared to analyst estimates of $380.63 million. GigaCloud Technology had a net margin of 10.65% and a return on equity of 31.42%. As a group, sell-side analysts anticipate that GigaCloud Technology Inc. will post 4.18 EPS for the current year.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “hold (c+)” rating on shares of GigaCloud Technology in a research note on Friday, September 4th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Hold”.

Institutional Trading of GigaCloud Technology

Large investors have recently made changes to their positions in the stock. LSV Asset Management raised its holdings in shares of GigaCloud Technology by 824.2% during the fourth quarter. LSV Asset Management now owns 736,600 shares of the company’s stock valued at $28,934,000 after purchasing an additional 656,900 shares during the last quarter. Dimensional Fund Advisors LP grew its position in GigaCloud Technology by 252.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 472,344 shares of the company’s stock worth $21,424,000 after purchasing an additional 338,269 shares during the period. Tieton Capital Management LLC purchased a new stake in GigaCloud Technology during the 2nd quarter valued at $6,257,000. First Trust Advisors LP raised its stake in GigaCloud Technology by 5.4% during the 1st quarter. First Trust Advisors LP now owns 102,014 shares of the company’s stock valued at $4,629,000 after buying an additional 5,203 shares during the last quarter. Finally, Bank of America Corp DE lifted its holdings in shares of GigaCloud Technology by 184.3% during the 1st quarter. Bank of America Corp DE now owns 99,949 shares of the company’s stock valued at $4,536,000 after buying an additional 64,799 shares during the period. 34.94% of the stock is currently owned by institutional investors.

About GigaCloud Technology

GigaCloud Technology Inc operates a business-to-business e-commerce platform focused on large-parcel merchandise. Its GigaCloud Marketplace connects manufacturers, primarily in Asia, with resellers and retailers in North America, Europe and other markets. The platform is designed for products such as furniture, appliances, fitness equipment and other bulky consumer goods that can be more complex to ship and sell through traditional e-commerce channels.

In addition to facilitating transactions, GigaCloud provides integrated services intended to support the order lifecycle, including payments, warehousing, international freight, delivery coordination and last-mile logistics.