GigaCloud Technology Inc. (NASDAQ:GCT - Get Free Report) COO Xinyan Hao sold 800 shares of the stock in a transaction dated Friday, December 5th. The stock was sold at an average price of $40.04, for a total transaction of $32,032.00. Following the transaction, the chief operating officer owned 357,486 shares of the company's stock, valued at approximately $14,313,739.44. This represents a 0.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Xinyan Hao also recently made the following trade(s):
- On Thursday, December 4th, Xinyan Hao sold 49,200 shares of GigaCloud Technology stock. The shares were sold at an average price of $40.07, for a total value of $1,971,444.00.
- On Friday, November 21st, Xinyan Hao sold 100,000 shares of GigaCloud Technology stock. The shares were sold at an average price of $35.18, for a total value of $3,518,000.00.
- On Wednesday, November 19th, Xinyan Hao sold 29,319 shares of GigaCloud Technology stock. The shares were sold at an average price of $31.51, for a total value of $923,841.69.
- On Monday, November 17th, Xinyan Hao sold 30,000 shares of GigaCloud Technology stock. The stock was sold at an average price of $30.32, for a total value of $909,600.00.
- On Friday, November 14th, Xinyan Hao sold 30,000 shares of GigaCloud Technology stock. The shares were sold at an average price of $30.42, for a total value of $912,600.00.
- On Wednesday, November 12th, Xinyan Hao sold 30,000 shares of GigaCloud Technology stock. The shares were sold at an average price of $31.48, for a total transaction of $944,400.00.
- On Monday, November 10th, Xinyan Hao sold 30,000 shares of GigaCloud Technology stock. The stock was sold at an average price of $33.61, for a total transaction of $1,008,300.00.
- On Friday, November 7th, Xinyan Hao sold 30,000 shares of GigaCloud Technology stock. The shares were sold at an average price of $30.29, for a total transaction of $908,700.00.
- On Wednesday, October 29th, Xinyan Hao sold 16,939 shares of GigaCloud Technology stock. The shares were sold at an average price of $30.01, for a total transaction of $508,339.39.
- On Monday, September 29th, Xinyan Hao sold 13,742 shares of GigaCloud Technology stock. The stock was sold at an average price of $30.02, for a total transaction of $412,534.84.
GigaCloud Technology Stock Performance
Shares of NASDAQ:GCT opened at $39.42 on Tuesday. GigaCloud Technology Inc. has a 52-week low of $11.17 and a 52-week high of $40.60. The company has a market capitalization of $1.46 billion, a P/E ratio of 11.80 and a beta of 2.28. The company has a 50-day simple moving average of $30.93 and a 200 day simple moving average of $26.28.
GigaCloud Technology (NASDAQ:GCT - Get Free Report) last announced its quarterly earnings results on Thursday, November 6th. The company reported $0.99 earnings per share for the quarter, topping analysts' consensus estimates of $0.65 by $0.34. The firm had revenue of $332.64 million for the quarter, compared to the consensus estimate of $300.96 million. GigaCloud Technology had a return on equity of 30.43% and a net margin of 10.62%.The business's revenue was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.15 earnings per share. As a group, equities analysts forecast that GigaCloud Technology Inc. will post 3.1 earnings per share for the current year.
GigaCloud Technology declared that its board has authorized a share repurchase program on Monday, August 18th that allows the company to buyback $0.00 in outstanding shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company's management believes its shares are undervalued.
Hedge Funds Weigh In On GigaCloud Technology
A number of hedge funds have recently bought and sold shares of the business. LPL Financial LLC grew its position in GigaCloud Technology by 32.2% during the first quarter. LPL Financial LLC now owns 164,605 shares of the company's stock worth $2,337,000 after buying an additional 40,117 shares in the last quarter. Swiss National Bank lifted its position in shares of GigaCloud Technology by 18.3% during the 1st quarter. Swiss National Bank now owns 54,200 shares of the company's stock valued at $770,000 after acquiring an additional 8,400 shares during the period. Invesco Ltd. grew its holdings in shares of GigaCloud Technology by 42.4% during the 1st quarter. Invesco Ltd. now owns 30,251 shares of the company's stock worth $430,000 after purchasing an additional 9,003 shares in the last quarter. Nuveen LLC bought a new position in shares of GigaCloud Technology in the first quarter worth $6,502,000. Finally, Russell Investments Group Ltd. raised its stake in GigaCloud Technology by 724.7% in the first quarter. Russell Investments Group Ltd. now owns 4,148 shares of the company's stock valued at $59,000 after purchasing an additional 3,645 shares in the last quarter. 34.94% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Several brokerages have issued reports on GCT. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of GigaCloud Technology in a report on Thursday. Zacks Research lowered shares of GigaCloud Technology from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, November 11th. Finally, Wall Street Zen downgraded shares of GigaCloud Technology from a "buy" rating to a "hold" rating in a report on Wednesday, November 26th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $24.00.
Check Out Our Latest Report on GCT
GigaCloud Technology Company Profile
(
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.
Read More
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
