Lei Wu Sells 44,000 Shares of GigaCloud Technology Inc. (NASDAQ:GCT) Stock

GigaCloud Technology Inc. (NASDAQ:GCT - Get Free Report) CEO Lei Wu sold 44,000 shares of the firm's stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $33.86, for a total transaction of $1,489,840.00. Following the transaction, the chief executive officer now owns 621,816 shares in the company, valued at approximately $21,054,689.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Tuesday, April 30th, Lei Wu sold 44,000 shares of GigaCloud Technology stock. The stock was sold at an average price of $31.87, for a total transaction of $1,402,280.00.
• On Friday, April 26th, Lei Wu sold 44,000 shares of GigaCloud Technology stock. The stock was sold at an average price of $35.89, for a total transaction of $1,579,160.00.
• On Wednesday, April 24th, Lei Wu sold 44,000 shares of GigaCloud Technology stock. The stock was sold at an average price of $36.54, for a total transaction of $1,607,760.00.
• On Monday, April 22nd, Lei Wu sold 44,000 shares of GigaCloud Technology stock. The stock was sold at an average price of $35.98, for a total transaction of $1,583,120.00.
• On Friday, April 19th, Lei Wu sold 14,177 shares of GigaCloud Technology stock. The stock was sold at an average price of $36.10, for a total transaction of $511,789.70.
• On Wednesday, April 17th, Lei Wu sold 44,000 shares of GigaCloud Technology stock. The shares were sold at an average price of $34.61, for a total value of $1,522,840.00.
• On Monday, April 15th, Lei Wu sold 44,000 shares of GigaCloud Technology stock. The stock was sold at an average price of $32.56, for a total value of $1,432,640.00.
• On Friday, April 12th, Lei Wu sold 1,000 shares of GigaCloud Technology stock. The stock was sold at an average price of $32.23, for a total transaction of $32,230.00.
• On Wednesday, April 10th, Lei Wu sold 1,000 shares of GigaCloud Technology stock. The shares were sold at an average price of $31.86, for a total transaction of $31,860.00.
• On Monday, April 8th, Lei Wu sold 20,000 shares of GigaCloud Technology stock. The stock was sold at an average price of $33.07, for a total transaction of $661,400.00.

GigaCloud Technology Price Performance

Shares of GCT traded up $2.57 during trading hours on Friday, hitting $37.27. The stock had a trading volume of 2,964,211 shares, compared to its average volume of 3,061,496. GigaCloud Technology Inc. has a 52 week low of $4.97 and a 52 week high of $45.18. The company's fifty day moving average is $33.68 and its two-hundred day moving average is $22.97. The stock has a market capitalization of $1.52 billion, a price-to-earnings ratio of 16.20 and a beta of 1.99.

GigaCloud Technology (NASDAQ:GCT - Get Free Report) last issued its quarterly earnings data on Friday, March 15th. The company reported $0.87 EPS for the quarter, topping analysts' consensus estimates of $0.58 by $0.29. GigaCloud Technology had a net margin of 13.37% and a return on equity of 36.40%. The firm had revenue of $244.74 million for the quarter, compared to analyst estimates of $220.30 million. Equities analysts predict that GigaCloud Technology Inc. will post 2.98 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in GCT. New York State Common Retirement Fund acquired a new stake in shares of GigaCloud Technology in the 3rd quarter valued at approximately $1,895,000. State of New Jersey Common Pension Fund D bought a new stake in GigaCloud Technology during the 3rd quarter worth approximately $172,000. Pacific Ridge Capital Partners LLC bought a new stake in GigaCloud Technology during the 3rd quarter worth approximately $586,000. WINTON GROUP Ltd bought a new stake in GigaCloud Technology during the 3rd quarter worth approximately $258,000. Finally, PAX Financial Group LLC bought a new stake in GigaCloud Technology during the 3rd quarter worth approximately $141,000. 34.94% of the stock is currently owned by institutional investors and hedge funds.

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.

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