GigaCloud Technology Inc. (NASDAQ:GCT – Get Free Report) CEO Lei Wu sold 44,000 shares of the business’s stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $34.61, for a total value of $1,522,840.00. Following the completion of the sale, the chief executive officer now directly owns 1,105,816 shares of the company’s stock, valued at $38,272,291.76. The sale was disclosed in a legal filing with the SEC, which is available through this link.
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 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 value 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.
- On Thursday, April 4th, Lei Wu sold 20,000 shares of GigaCloud Technology stock. The shares were sold at an average price of $36.39, for a total transaction of $727,800.00.
- On Monday, April 1st, Lei Wu sold 1,000 shares of GigaCloud Technology stock. The stock was 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 shares were sold at an average price of $27.64, for a total value of $165.84.
GigaCloud Technology Stock Up 5.3 %
GigaCloud Technology stock traded up $1.85 during mid-day trading on Thursday, reaching $36.81. 3,813,730 shares of the company’s stock were exchanged, compared to its average volume of 3,139,275. The business’s fifty day simple moving average is $32.76 and its 200 day simple moving average is $20.86. GigaCloud Technology Inc. has a one year low of $4.93 and a one year high of $45.18. The firm has a market capitalization of $1.50 billion, a PE ratio of 16.00 and a beta of 2.26.
Wall Street Analysts Forecast Growth
Separately, Roth Mkm raised their target price on GigaCloud Technology from $28.00 to $35.00 and gave the company a “buy” rating in a report on Tuesday, April 2nd.
Read Our Latest Stock Analysis on GigaCloud Technology
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Acadian Asset Management LLC bought a new position in shares of GigaCloud Technology during the 3rd quarter worth $9,634,000. Bridgeway Capital Management LLC purchased a new position in shares of GigaCloud Technology in the fourth quarter worth about $6,036,000. Verition Fund Management LLC bought a new stake in shares of GigaCloud Technology in the fourth quarter valued at approximately $4,613,000. New York State Common Retirement Fund bought a new stake in shares of GigaCloud Technology in the third quarter valued at approximately $1,895,000. Finally, Quadrature Capital Ltd purchased a new stake in shares of GigaCloud Technology during the 4th quarter valued at approximately $2,803,000. 34.94% of the stock is owned by institutional investors.
About GigaCloud Technology
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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