GigaCloud Technology (NASDAQ:GCT) CEO Lei Wu Sells 100,000 Shares

Key Points

• GigaCloud Technology CEO Lei Wu sold 100,000 shares at an average price of $28.52, reducing his ownership by 62.50% and retaining 60,000 shares valued at approximately $1.7 million.
• Following the sale, GigaCloud Technology's stock decreased by 5.5% during trading, closing at $28.22, amid a notable volume of over 1.5 million shares exchanged.
• Despite a recent earnings report showing an EPS of $0.91, exceeding expectations, several analysts have downgraded GigaCloud's stock rating to "hold," while price targets have varied significantly from $24.00 to $33.00.

GigaCloud Technology Inc. (NASDAQ:GCT - Get Free Report) CEO Lei Wu sold 100,000 shares of the business's stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $28.52, for a total transaction of $2,852,000.00. Following the completion of the sale, the chief executive officer directly owned 60,000 shares in the company, valued at $1,711,200. This trade represents a 62.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

GigaCloud Technology Stock Down 5.5%

NASDAQ:GCT traded down $1.64 during trading hours on Wednesday, reaching $28.22. 1,507,349 shares of the company's stock were exchanged, compared to its average volume of 1,090,899. The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of 8.47 and a beta of 2.37. GigaCloud Technology Inc. has a 1-year low of $11.17 and a 1-year high of $34.50. The company has a 50-day moving average of $25.18 and a 200 day moving average of $19.13.

GigaCloud Technology (NASDAQ:GCT - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.45. The company had revenue of $322.61 million for the quarter, compared to analysts' expectations of $290.08 million. GigaCloud Technology had a net margin of 11.17% and a return on equity of 32.33%. The firm's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period last year, the company earned $1.03 EPS. GigaCloud Technology has set its Q3 2025 guidance at EPS. Research analysts forecast that GigaCloud Technology Inc. will post 3.1 EPS for the current fiscal year.

GigaCloud Technology declared that its board has authorized a stock buyback plan on Monday, August 18th that allows the company to buyback $0.00 in outstanding shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company's board of directors believes its stock is undervalued.

Analysts Set New Price Targets

Several research analysts have issued reports on GCT shares. Wall Street Zen lowered GigaCloud Technology from a "buy" rating to a "hold" rating in a research note on Sunday. Lake Street Capital boosted their price target on GigaCloud Technology from $26.00 to $33.00 and gave the company a "buy" rating in a research note on Friday, August 8th. Finally, Zacks Research raised GigaCloud Technology from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 19th. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $24.00.

Institutional Investors Weigh In On GigaCloud Technology

A number of institutional investors have recently bought and sold shares of GCT. Ameritas Advisory Services LLC bought a new position in shares of GigaCloud Technology in the 2nd quarter valued at about $35,000. CWM LLC increased its position in shares of GigaCloud Technology by 319.8% during the first quarter. CWM LLC now owns 2,821 shares of the company's stock worth $40,000 after purchasing an additional 2,149 shares in the last quarter. Tower Research Capital LLC TRC increased its position in shares of GigaCloud Technology by 25.6% during the second quarter. Tower Research Capital LLC TRC now owns 2,372 shares of the company's stock worth $47,000 after purchasing an additional 483 shares in the last quarter. Ameritas Investment Partners Inc. grew its holdings in shares of GigaCloud Technology by 17.6% during the second quarter. Ameritas Investment Partners Inc. now owns 2,705 shares of the company's stock valued at $54,000 after buying an additional 405 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in GigaCloud Technology by 724.7% in the first quarter. Russell Investments Group Ltd. now owns 4,148 shares of the company's stock valued at $59,000 after purchasing an additional 3,645 shares during the last quarter. Hedge funds and other institutional investors own 34.94% of the company's stock.

About GigaCloud Technology

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.

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