Lei Wu Sells 14,188 Shares of GigaCloud Technology Inc. (NASDAQ:GCT) Stock

GigaCloud Technology Inc. (NASDAQ:GCT - Get Free Report) CEO Lei Wu sold 14,188 shares of GigaCloud Technology stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $36.06, for a total value of $511,619.28. Following the completion of the transaction, the chief executive officer now owns 114,190 shares of the company's stock, valued at approximately $4,117,691.40. The sale was disclosed in a document filed with the SEC, which is available at this link.

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

• On Tuesday, May 14th, Lei Wu sold 14,188 shares of GigaCloud Technology stock. The shares were sold at an average price of $36.62, for a total value of $519,564.56.
• On Friday, May 10th, Lei Wu sold 118,874 shares of GigaCloud Technology stock. The shares were sold at an average price of $37.69, for a total value of $4,480,361.06.
• On Wednesday, May 8th, Lei Wu sold 62,000 shares of GigaCloud Technology stock. The shares were sold at an average price of $38.77, for a total value of $2,403,740.00.
• On Monday, May 6th, Lei Wu sold 44,000 shares of GigaCloud Technology stock. The shares were sold at an average price of $40.21, for a total value of $1,769,240.00.
• On Thursday, May 2nd, Lei Wu sold 44,000 shares of GigaCloud Technology stock. The shares were sold at an average price of $33.86, for a total value of $1,489,840.00.
• On Tuesday, April 30th, Lei Wu sold 44,000 shares of GigaCloud Technology stock. The shares were sold at an average price of $31.87, for a total value of $1,402,280.00.
• On Friday, April 26th, Lei Wu sold 44,000 shares of GigaCloud Technology stock. The shares were sold at an average price of $35.89, for a total value 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 value 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 value 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 value of $511,789.70.

GigaCloud Technology Stock Down 1.2 %

GCT stock traded down $0.45 during trading on Friday, reaching $35.76. 2,769,454 shares of the company's stock were exchanged, compared to its average volume of 3,044,895. GigaCloud Technology Inc. has a 1-year low of $5.25 and a 1-year high of $45.18. The company's fifty day moving average price is $33.96 and its 200-day moving average price is $24.81. The firm has a market cap of $1.46 billion, a PE ratio of 13.91 and a beta of 1.99.

GigaCloud Technology (NASDAQ:GCT - Get Free Report) last posted its quarterly earnings data on Thursday, May 9th. The company reported $0.84 EPS for the quarter, topping analysts' consensus estimates of $0.51 by $0.33. GigaCloud Technology had a return on equity of 41.24% and a net margin of 12.74%. The company had revenue of $251.08 million for the quarter, compared to the consensus estimate of $235.00 million. During the same quarter in the previous year, the business earned $0.39 EPS. As a group, sell-side analysts expect that GigaCloud Technology Inc. will post 2.98 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, Roth Mkm boosted their price target 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 Trading of GigaCloud Technology

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Acadian Asset Management LLC bought a new stake in shares of GigaCloud Technology in the 3rd quarter worth $9,634,000. New York State Common Retirement Fund bought a new stake in shares of GigaCloud Technology in the 3rd quarter worth $1,895,000. Empowered Funds LLC raised its stake in shares of GigaCloud Technology by 8.1% in the 1st quarter. Empowered Funds LLC now owns 163,510 shares of the company's stock worth $4,369,000 after buying an additional 12,278 shares in the last quarter. Quadrature Capital Ltd bought a new stake in shares of GigaCloud Technology in the 4th quarter worth $2,803,000. Finally, Pacific Ridge Capital Partners LLC raised its position in shares of GigaCloud Technology by 27.1% during the fourth quarter. Pacific Ridge Capital Partners LLC now owns 84,617 shares of the company's stock worth $1,548,000 after purchasing an additional 18,049 shares during the period. Institutional investors own 34.94% of the company's stock.

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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