GigaCloud Technology (NASDAQ:GCT) CEO Lei Wu Sells 58,090 Shares

Key Points

• Lei Wu sold 58,090 shares on March 3 at an average price of $40.99 for about $2.38M and has made several other recent sales, cutting his position by 11.21% to 460,000 shares (roughly $18.86M).
• GigaCloud beat expectations last quarter with $1.04 EPS vs. $0.65 estimate and $362.8M revenue (up 22.6% YoY); the stock trades near $43.66, has a $1.62B market cap, and a 12‑month range of $11.17–$48.00.

GigaCloud Technology Inc. (NASDAQ:GCT - Get Free Report) CEO Lei Wu sold 58,090 shares of GigaCloud Technology stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $40.99, for a total value of $2,381,109.10. Following the completion of the transaction, the chief executive officer owned 460,000 shares in the company, valued at $18,855,400. The trade was a 11.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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 Monday, March 2nd, Lei Wu sold 30,000 shares of GigaCloud Technology stock. The shares were sold at an average price of $42.83, for a total value 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 transaction 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 transaction 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 transaction 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.
• On Wednesday, January 14th, Lei Wu sold 20,000 shares of GigaCloud Technology stock. The shares were sold at an average price of $40.94, for a total transaction of $818,800.00.

GigaCloud Technology Stock Performance

Shares of NASDAQ:GCT traded down $0.74 during midday trading on Thursday, hitting $43.66. 810,108 shares of the company's stock traded hands, compared to its average volume of 641,356. The firm's fifty day moving average price is $39.68 and its two-hundred day moving average price is $34.32. GigaCloud Technology Inc. has a twelve month low of $11.17 and a twelve month high of $48.00. The company has a market cap of $1.62 billion, a PE ratio of 12.06 and a beta of 2.24.

GigaCloud Technology (NASDAQ:GCT - Get Free Report) last released its quarterly earnings data on Thursday, February 26th. The company reported $1.04 EPS for the quarter, beating the consensus estimate of $0.65 by $0.39. The company had revenue of $362.75 million for the quarter, compared to analyst estimates of $332.33 million. GigaCloud Technology had a return on equity of 30.74% and a net margin of 10.65%.The firm's revenue was up 22.6% compared to the same quarter last year. During the same period last year, the company posted $0.76 earnings per share. As a group, equities research analysts anticipate that GigaCloud Technology Inc. will post 3.1 EPS for the current fiscal year.

Hedge Funds Weigh In On GigaCloud Technology

A number of institutional investors have recently made changes to their positions in GCT. Ameritas Investment Partners Inc. raised 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 worth $54,000 after purchasing an additional 405 shares during the period. Tower Research Capital LLC TRC grew its position in shares of GigaCloud Technology by 25.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,372 shares of the company's stock valued at $47,000 after buying an additional 483 shares during the last quarter. SG Americas Securities LLC raised its stake in GigaCloud Technology by 10.2% during the fourth quarter. SG Americas Securities LLC now owns 5,249 shares of the company's stock worth $206,000 after acquiring an additional 485 shares during the period. Jones Financial Companies Lllp raised its stake in GigaCloud Technology by 184.6% during the third quarter. Jones Financial Companies Lllp now owns 908 shares of the company's stock worth $27,000 after acquiring an additional 589 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in GigaCloud Technology by 14.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,853 shares of the company's stock worth $166,000 after acquiring an additional 759 shares during the last quarter. 34.94% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

About GigaCloud Technology

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.

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