GigaCloud Technology Inc. (NASDAQ:GCT) CEO Sells $32,230.00 in 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 Friday, April 12th. The shares were sold at an average price of $32.23, for a total transaction of $32,230.00. Following the sale, the chief executive officer now owns 1,237,816 shares in the company, valued at approximately $39,894,809.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Monday, April 15th, Lei Wu sold 44,000 shares of GigaCloud Technology stock. The shares were sold at an average price of $32.56, for a total transaction of $1,432,640.00.
• On Wednesday, April 10th, Lei Wu sold 1,000 shares of GigaCloud Technology stock. The stock was sold at an average price of $31.86, for a total value of $31,860.00.
• On Monday, April 8th, Lei Wu sold 20,000 shares of GigaCloud Technology stock. The shares were sold at an average price of $33.07, for a total value of $661,400.00.
• On Thursday, April 4th, Lei Wu sold 20,000 shares of GigaCloud Technology stock. The stock was sold at an average price of $36.39, for a total value of $727,800.00.
• On Monday, April 1st, Lei Wu sold 1,000 shares of GigaCloud Technology stock. The shares were sold at an average price of $29.53, for a total transaction of $29,530.00.
• 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 transaction of $165.84.

GigaCloud Technology Stock Performance

Shares of NASDAQ:GCT traded down $0.13 on Wednesday, reaching $34.96. The company's stock had a trading volume of 2,697,292 shares, compared to its average volume of 3,130,163. The company has a 50-day simple moving average of $32.64 and a 200 day simple moving average of $20.76. GigaCloud Technology Inc. has a 52-week low of $4.93 and a 52-week high of $45.18. The company has a market cap of $1.42 billion, a P/E ratio of 15.20 and a beta of 2.26.

GigaCloud Technology (NASDAQ:GCT - Get Free Report) last posted its quarterly earnings data on Friday, March 15th. The company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.29. The business had revenue of $244.74 million during the quarter, compared to analyst estimates of $220.30 million. GigaCloud Technology had a return on equity of 36.40% and a net margin of 13.37%. On average, equities research analysts forecast that GigaCloud Technology Inc. will post 2.58 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. CWM LLC bought a new position in shares of GigaCloud Technology in the fourth quarter worth about $30,000. Quarry LP bought a new position in GigaCloud Technology in the 4th quarter worth about $47,000. State of Wyoming purchased a new position in shares of GigaCloud Technology during the second quarter worth approximately $27,000. Morgan Stanley bought a new stake in shares of GigaCloud Technology during the fourth quarter valued at approximately $25,000. Finally, Royal Bank of Canada purchased a new stake in shares of GigaCloud Technology in the fourth quarter valued at approximately $108,000. Hedge funds and other institutional investors own 34.94% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Roth Mkm raised their target price on shares of GigaCloud Technology from $28.00 to $35.00 and gave the stock a "buy" rating in a research note on Tuesday, April 2nd.

GigaCloud Technology Company Profile

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.