GigaCloud Technology (NASDAQ:GCT) CTO Sells $4,338,000.00 in Stock

Key Points

• CTO Xin Wan sold 100,000 shares at an average price of $43.38 on March 5th for $4.338 million, reducing his stake by 12.23% to 717,540 shares (SEC filing disclosed).
• GigaCloud reported strong quarterly results, with EPS of $1.04 versus a $0.65 consensus and revenue of $362.75 million, up 22.6% year-over-year and delivering a 10.65% net margin and 30.74% ROE.
• The stock traded down about 1.7% to $43.66, has a market cap of $1.62 billion and a 52-week range of $11.17–$48.00, while analysts show a consensus rating of "Moderate Buy" with a $33.00 target.

GigaCloud Technology Inc. (NASDAQ:GCT - Get Free Report) CTO Xin Wan sold 100,000 shares of the stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $43.38, for a total value of $4,338,000.00. Following the transaction, the chief technology officer directly owned 717,540 shares in the company, valued at approximately $31,126,885.20. This represents a 12.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

GigaCloud Technology Trading Down 1.7%

GCT traded down $0.74 during midday trading on Thursday, hitting $43.66. The company's stock had a trading volume of 810,108 shares, compared to its average volume of 641,356. GigaCloud Technology Inc. has a 52-week low of $11.17 and a 52-week high of $48.00. The firm has a 50-day moving average price of $39.68 and a two-hundred day moving average price of $34.32. The firm has a market cap of $1.62 billion, a P/E ratio of 12.06 and a beta of 2.24.

GigaCloud Technology (NASDAQ:GCT - Get Free Report) last announced its quarterly earnings results on Thursday, February 26th. The company reported $1.04 earnings per share for the quarter, beating analysts' consensus estimates of $0.65 by $0.39. GigaCloud Technology had a net margin of 10.65% and a return on equity of 30.74%. The company had revenue of $362.75 million for the quarter, compared to analyst estimates of $332.33 million. During the same quarter last year, the business earned $0.76 EPS. GigaCloud Technology's revenue for the quarter was up 22.6% on a year-over-year basis. On average, equities analysts expect that GigaCloud Technology Inc. will post 3.1 EPS for the current year.

Analyst Upgrades and Downgrades

GCT has been the subject of a number of recent analyst reports. Zacks Research cut shares of GigaCloud Technology from a "strong-buy" rating to a "hold" rating in a research report on Friday, January 16th. Weiss Ratings raised GigaCloud Technology from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday, January 27th. Finally, Wall Street Zen upgraded GigaCloud Technology from a "buy" rating to a "strong-buy" rating in a research report 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.com, GigaCloud Technology has an average rating of "Moderate Buy" and a consensus target price of $33.00.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. LSV Asset Management raised its holdings in GigaCloud Technology by 824.2% during the fourth quarter. LSV Asset Management now owns 736,600 shares of the company's stock worth $28,934,000 after purchasing an additional 656,900 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in shares of GigaCloud Technology during the 3rd quarter valued at $14,335,000. UBS Group AG raised its stake in shares of GigaCloud Technology by 133.8% in the 3rd quarter. UBS Group AG now owns 441,992 shares of the company's stock worth $12,553,000 after buying an additional 252,934 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of GigaCloud Technology by 67.7% in the second quarter. JPMorgan Chase & Co. now owns 339,885 shares of the company's stock valued at $6,723,000 after buying an additional 137,201 shares during the period. Finally, Dimensional Fund Advisors LP bought a new position in GigaCloud Technology during the fourth quarter valued at about $5,266,000. 34.94% of the stock is currently owned by institutional investors.

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.

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