GigaCloud Technology (NASDAQ:GCT) COO Sells $412,534.84 in Stock

Key Points

• Xinyan Hao, the COO of GigaCloud Technology, sold 13,742 shares of the company's stock for $412,534.84, reducing their ownership by 1.70% to a total of 793,744 shares valued at approximately $23.83 million.
• GigaCloud Technology's stock price fell 3.5% to $28.40, with a market cap of $1.07 billion and a price-to-earnings ratio of 8.53.
• The company recently reported quarterly earnings of $0.91 EPS, exceeding analysts' estimates and reflecting a 3.8% increase in revenue compared to the previous year.

GigaCloud Technology Inc. (NASDAQ:GCT - Get Free Report) COO Xinyan Hao sold 13,742 shares of the stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $30.02, for a total transaction of $412,534.84. Following the transaction, the chief operating officer owned 793,744 shares in the company, valued at $23,828,194.88. The trade was a 1.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

GigaCloud Technology Stock Down 3.5%

Shares of GigaCloud Technology stock traded down $1.04 on Tuesday, hitting $28.40. The stock had a trading volume of 702,318 shares, compared to its average volume of 1,176,930. GigaCloud Technology Inc. has a one year low of $11.17 and a one year high of $34.50. The stock has a market cap of $1.07 billion, a price-to-earnings ratio of 8.53 and a beta of 2.37. The stock's 50-day simple moving average is $27.63 and its two-hundred day simple moving average is $20.47.

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

GigaCloud Technology declared that its Board of Directors has initiated a share repurchase plan on Monday, August 18th that allows the company to buyback $0.00 in shares. This buyback authorization allows the company to repurchase 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.

Hedge Funds Weigh In On GigaCloud Technology

A number of hedge funds have recently modified their holdings of the company. Thrivent Financial for Lutherans bought a new position in shares of GigaCloud Technology during the second quarter worth $847,000. Tower Research Capital LLC TRC boosted 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 acquiring an additional 483 shares during the last quarter. BNP Paribas Financial Markets boosted its position in shares of GigaCloud Technology by 80.0% during the second quarter. BNP Paribas Financial Markets now owns 14,945 shares of the company's stock worth $296,000 after acquiring an additional 6,643 shares during the last quarter. Bridgeway Capital Management LLC boosted its position in shares of GigaCloud Technology by 0.8% during the second quarter. Bridgeway Capital Management LLC now owns 380,656 shares of the company's stock worth $7,529,000 after acquiring an additional 3,023 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its position in shares of GigaCloud Technology by 13.9% during the second quarter. Ameriprise Financial Inc. now owns 90,238 shares of the company's stock worth $1,787,000 after acquiring an additional 11,034 shares during the last quarter. 34.94% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

GCT has been the subject of a number of recent research reports. Wall Street Zen cut shares of GigaCloud Technology from a "buy" rating to a "hold" rating in a research report on Sunday, September 7th. Lake Street Capital lifted their price target on shares of GigaCloud Technology from $26.00 to $33.00 and gave the company a "buy" rating in a research report on Friday, August 8th. Finally, Zacks Research raised shares of GigaCloud Technology from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 19th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, GigaCloud Technology has an average rating of "Hold" and a consensus target price of $24.00.

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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