GigaCloud Technology Inc. (NASDAQ:GCT - Get Free Report) CEO Lei Wu sold 44,000 shares of the stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $33.86, for a total transaction of $1,489,840.00. Following the completion of the transaction, the chief executive officer now directly owns 621,816 shares of the company's stock, valued at approximately $21,054,689.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Lei Wu also recently made the following trade(s):
- 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 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 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 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 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 stock was 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 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 value 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 value of $661,400.00.
GigaCloud Technology Stock Performance
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Shares of GCT stock opened at $37.27 on Friday. The firm's 50 day moving average price is $33.68 and its two-hundred day moving average price is $22.97. The stock has a market cap of $1.52 billion, a PE ratio of 16.20 and a beta of 1.99. GigaCloud Technology Inc. has a 52-week low of $4.97 and a 52-week high of $45.18.
GigaCloud Technology (NASDAQ:GCT - Get Free Report) last posted its quarterly earnings results on Friday, March 15th. The company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.29. The business had revenue of $244.74 million for the quarter, compared to analyst estimates of $220.30 million. GigaCloud Technology had a return on equity of 36.40% and a net margin of 13.37%. As a group, sell-side analysts predict that GigaCloud Technology Inc. will post 2.98 earnings per share for the current fiscal year.
Hedge Funds Weigh In On GigaCloud Technology
Several institutional investors have recently modified their holdings of the stock. Acadian Asset Management LLC acquired a new stake in GigaCloud Technology during the 3rd quarter worth approximately $9,634,000. New York State Common Retirement Fund acquired a new stake in shares of GigaCloud Technology during the third quarter worth $1,895,000. Quadrature Capital Ltd bought a new stake in GigaCloud Technology in the 4th quarter valued at $2,803,000. Pacific Ridge Capital Partners LLC acquired a new position in GigaCloud Technology in the 3rd quarter worth $586,000. Finally, Nomura Holdings Inc. bought a new position in GigaCloud Technology during the 4th quarter worth about $991,000. 34.94% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Separately, Roth Mkm lifted their price objective 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 Research Report on GigaCloud Technology
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.
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