Saturday, June 15, 2024

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

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GigaCloud Technology Inc. (NASDAQ:GCTGet Free Report) CEO Lei Wu sold 14,188 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $36.06, for a total value of $511,619.28. Following the completion of the sale, the chief executive officer now owns 114,190 shares in the company, valued at $4,117,691.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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 shares were 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 shares were 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 shares were sold at an average price of $36.10, for a total value of $511,789.70.

GigaCloud Technology Stock Down 1.2 %

Shares of NASDAQ:GCT opened at $35.76 on Friday. GigaCloud Technology Inc. has a twelve month low of $5.25 and a twelve month high of $45.18. The stock’s 50 day moving average is $33.98 and its 200-day moving average is $24.99. The firm has a market capitalization of $1.46 billion, a price-to-earnings ratio of 13.91 and a beta of 1.99.

GigaCloud Technology (NASDAQ:GCTGet Free Report) last issued its earnings results on Thursday, May 9th. The company reported $0.84 earnings per share 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 analyst estimates of $235.00 million. During the same period in the prior year, the firm earned $0.39 earnings per share. Equities research analysts anticipate that GigaCloud Technology Inc. will post 3.25 earnings per share 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.

Check Out Our Latest Stock Report on GCT

Institutional Investors Weigh In On GigaCloud Technology

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

About GigaCloud Technology

(Get Free Report)

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.

See Also

Insider Buying and Selling by Quarter for GigaCloud Technology (NASDAQ:GCT)



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