Insider Selling: GigaCloud Technology Inc. (NASDAQ:GCT) CEO Sells 44,000 Shares of Stock

GigaCloud Technology Inc. (NASDAQ:GCT) CEO Lei Wu sold 44,000 shares of GigaCloud Technology stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $35.98, for a total transaction of $1,583,120.00. Following the completion of the transaction, the chief executive officer now owns 973,816 shares of the company’s stock, valued at approximately $35,037,899.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Friday, April 19th, Lei Wu sold 14,177 shares of GigaCloud Technology stock. The shares were 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 transaction of $1,522,840.00.
• 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 Friday, April 12th, Lei Wu sold 1,000 shares of GigaCloud Technology stock. The shares were 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 shares were 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 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 Down 2.9 %

NASDAQ GCT traded down $1.09 on Wednesday, hitting $35.91. 2,261,896 shares of the stock were exchanged, compared to its average volume of 3,131,139. GigaCloud Technology Inc. has a fifty-two week low of $4.93 and a fifty-two week high of $45.18. The company has a market cap of $1.46 billion, a PE ratio of 15.61 and a beta of 2.26. The company has a 50-day moving average price of $33.30 and a 200-day moving average price of $21.82.

GigaCloud Technology (NASDAQ:GCT) last posted its quarterly earnings results on Friday, March 15th. The company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.58 by $0.29. GigaCloud Technology had a net margin of 13.37% and a return on equity of 36.40%. The company had revenue of $244.74 million during the quarter, compared to analysts’ expectations of $220.30 million. As a group, equities research analysts predict that GigaCloud Technology Inc. will post 2.98 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. CWM LLC acquired a new position in shares of GigaCloud Technology in the 4th quarter valued at $30,000. Quarry LP acquired a new position in shares of GigaCloud Technology in the 4th quarter valued at $47,000. Tucker Asset Management LLC boosted its holdings in shares of GigaCloud Technology by 1,499.8% in the 4th quarter. Tucker Asset Management LLC now owns 7,999 shares of the company’s stock valued at $146,000 after buying an additional 7,499 shares in the last quarter. Foundations Investment Advisors LLC acquired a new position in shares of GigaCloud Technology in the 4th quarter valued at $207,000. Finally, Avantax Advisory Services Inc. acquired a new position in shares of GigaCloud Technology in the 4th quarter valued at $226,000. Institutional investors and hedge funds own 34.94% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Roth Mkm boosted their price target on shares of GigaCloud Technology from $28.00 to $35.00 and gave the stock a “buy” rating in a report on Tuesday, April 2nd.

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.