Key Points
- CEO Lei Wu sold 20,000 shares on Jan. 7 at an average of $42.36 for $847,200, and now owns 840,000 shares — a 2.33% reduction in his stake.
- GigaCloud beat last quarter's expectations with EPS $0.99 (vs. $0.65 est.) and revenue of $332.6M, while reporting a 30.43% ROE and revenue up 9.7% year-over-year.
- Analysts have upgraded GCT (several to Buy/Strong-Buy) giving a MarketBeat consensus rating of "Moderate Buy" with a $24 target, even as shares trade near a one-year high (~$41.80) and the company has a market cap of about $1.55B.
GigaCloud Technology Inc. (NASDAQ:GCT - Get Free Report) CEO Lei Wu sold 20,000 shares of the firm's stock in a transaction that occurred on Wednesday, January 7th. The shares were sold at an average price of $42.36, for a total value of $847,200.00. Following the completion of the sale, the chief executive officer owned 840,000 shares in the company, valued at approximately $35,582,400. This represents a 2.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
GigaCloud Technology Stock Performance
Shares of GCT stock opened at $41.80 on Friday. GigaCloud Technology Inc. has a 1 year low of $11.17 and a 1 year high of $43.85. The firm has a market capitalization of $1.55 billion, a PE ratio of 12.51 and a beta of 2.28. The stock has a fifty day moving average of $36.79 and a two-hundred day moving average of $29.80.
GigaCloud Technology (NASDAQ:GCT - Get Free Report) last issued its quarterly earnings results on Thursday, November 6th. The company reported $0.99 EPS for the quarter, beating analysts' consensus estimates of $0.65 by $0.34. The company had revenue of $332.64 million for the quarter, compared to analyst estimates of $300.96 million. GigaCloud Technology had a return on equity of 30.43% and a net margin of 10.62%.The company's quarterly revenue was up 9.7% compared to the same quarter last year. During the same period last year, the company earned $1.15 earnings per share. Equities research analysts predict that GigaCloud Technology Inc. will post 3.1 earnings per share for the current fiscal year.
Analysts Set New Price Targets
Several research firms have recently issued reports on GCT. Weiss Ratings upgraded shares of GigaCloud Technology from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, December 29th. Zacks Research upgraded GigaCloud Technology from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, December 10th. Finally, Wall Street Zen upgraded GigaCloud Technology from a "hold" rating to a "buy" rating in a report on Saturday, December 13th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, GigaCloud Technology has an average rating of "Moderate Buy" and a consensus target price of $24.00.
Get Our Latest Stock Analysis on GigaCloud Technology
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of GCT. Vanguard Group Inc. boosted its stake in shares of GigaCloud Technology by 18.2% during the 3rd quarter. Vanguard Group Inc. now owns 803,664 shares of the company's stock worth $22,824,000 after acquiring an additional 123,596 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of GigaCloud Technology by 9.1% during the second quarter. Geode Capital Management LLC now owns 630,805 shares of the company's stock valued at $12,479,000 after purchasing an additional 52,415 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in shares of GigaCloud Technology during the third quarter valued at $14,335,000. UBS Group AG boosted its position in shares of GigaCloud Technology by 133.8% in the 3rd quarter. UBS Group AG now owns 441,992 shares of the company's stock valued at $12,553,000 after purchasing an additional 252,934 shares during the period. Finally, Franklin Resources Inc. raised its holdings in GigaCloud Technology by 3.3% during the 3rd quarter. Franklin Resources Inc. now owns 421,507 shares of the company's stock worth $11,971,000 after buying an additional 13,547 shares during the period. Institutional investors own 34.94% of the company's stock.
About GigaCloud Technology
(
Get Free Report)
GigaCloud Technology Inc (NASDAQ:GCT) is a China-based provider of software-as-a-service (SaaS) and cloud computing solutions tailored for cross-border e-commerce. The company’s core offering, its Supply Chain Embedded E-commerce as a Service (SCEaaS) platform, integrates procurement, order management, warehousing, logistics and payment services into a unified cloud-based system. This end-to-end digital supply chain solution is designed to help small and medium-sized Chinese exporters efficiently connect with global buyers without the need to build and maintain their own infrastructure.
Through its modular, subscription-based SaaS model, GigaCloud enables merchants to scale operations on demand and minimize upfront capital expenditures.
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