Lei Wu Sells 1,000 Shares of GigaCloud Technology Inc. (NASDAQ:GCT) Stock

GigaCloud Technology Inc. (NASDAQ:GCT - Get Free Report) CEO Lei Wu sold 1,000 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $29.53, for a total value of $29,530.00. Following the completion of the transaction, the chief executive officer now directly owns 1,248,994 shares of the company's stock, valued at approximately $36,882,792.82. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Lei Wu also recently made the following trade(s):

• On Tuesday, March 26th, Lei Wu sold 6 shares of GigaCloud Technology stock. The stock was sold at an average price of $27.64, for a total value of $165.84.

GigaCloud Technology Price Performance

GigaCloud Technology stock traded up $2.40 during mid-day trading on Wednesday, reaching $35.65. The stock had a trading volume of 5,205,517 shares, compared to its average volume of 3,190,266. The company has a market capitalization of $1.45 billion, a price-to-earnings ratio of 15.50 and a beta of 2.26. GigaCloud Technology Inc. has a one year low of $4.93 and a one year high of $45.18. The company has a 50-day moving average price of $31.14 and a two-hundred day moving average price of $19.20.

Wall Street Analyst Weigh In

Separately, Roth Mkm lifted their price objective on GigaCloud Technology from $28.00 to $35.00 and gave the company a "buy" rating in a research note on Tuesday.

Hedge Funds Weigh In On GigaCloud Technology

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Morgan Stanley bought a new position in GigaCloud Technology in the fourth quarter worth approximately $25,000. State of Wyoming bought a new position in GigaCloud Technology in the 2nd quarter worth $27,000. CWM LLC bought a new position in GigaCloud Technology in the 4th quarter worth $30,000. Quarry LP purchased a new position in GigaCloud Technology during the fourth quarter valued at $47,000. Finally, UBS Group AG bought a new stake in GigaCloud Technology during the third quarter valued at about $61,000. 34.94% of the stock is owned by institutional investors.

GigaCloud Technology Company Profile

GigaCloud Technology Inc provides end-to-end B2B ecommerce solutions for large parcel merchandise. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.