Key Points
- CEO Lei Wu sold 60,000 GigaCloud shares in three early-January trades for about $2.56 million total, leaving him with 800,000 shares (a ~2.44% reduction in ownership).
- GigaCloud reported a strong quarter with an EPS beat ($0.99 vs. $0.65) and revenue of $332.6M (up 9.7% year-over-year), with a 10.62% net margin and 30.43% ROE.
- The stock trades near $41.74 (52-week high $44.71) with a $1.55B market cap and is down ~6% recently, while analysts are mixed and the consensus target price is $24, well below current levels.
GigaCloud Technology Inc. (NASDAQ:GCT - Get Free Report) CEO Lei Wu sold 20,000 shares of the firm's stock in a transaction on Friday, January 9th. The stock was sold at an average price of $42.08, for a total value of $841,600.00. Following the completion of the transaction, the chief executive officer directly owned 800,000 shares in the company, valued at approximately $33,664,000. This represents a 2.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.
Lei Wu also recently made the following trade(s):
- On Monday, January 12th, Lei Wu sold 20,000 shares of GigaCloud Technology stock. The shares were sold at an average price of $43.39, for a total value of $867,800.00.
- On Wednesday, January 7th, Lei Wu sold 20,000 shares of GigaCloud Technology stock. The stock was sold at an average price of $42.36, for a total value of $847,200.00.
GigaCloud Technology Stock Down 6.0%
NASDAQ GCT opened at $41.74 on Wednesday. GigaCloud Technology Inc. has a 52 week low of $11.17 and a 52 week high of $44.71. The company has a market capitalization of $1.55 billion, a P/E ratio of 12.50 and a beta of 2.28. The stock's 50-day moving average price is $37.42 and its 200-day moving average price is $30.29.
GigaCloud Technology (NASDAQ:GCT - Get Free Report) last released its earnings results on Thursday, November 6th. The company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.34. GigaCloud Technology had a net margin of 10.62% and a return on equity of 30.43%. The company had revenue of $332.64 million during the quarter, compared to analyst estimates of $300.96 million. During the same period in the prior year, the firm posted $1.15 EPS. The firm's quarterly revenue was up 9.7% compared to the same quarter last year. Research analysts anticipate that GigaCloud Technology Inc. will post 3.1 EPS for the current year.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada grew its position in shares of GigaCloud Technology by 91.4% during the first quarter. Royal Bank of Canada now owns 46,638 shares of the company's stock valued at $661,000 after purchasing an additional 22,273 shares in the last quarter. AQR Capital Management LLC grew its holdings in GigaCloud Technology by 355.1% during the 1st quarter. AQR Capital Management LLC now owns 99,669 shares of the company's stock valued at $1,415,000 after buying an additional 77,769 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in GigaCloud Technology by 34.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,230 shares of the company's stock worth $458,000 after acquiring an additional 8,274 shares during the last quarter. Jones Financial Companies Lllp raised its holdings in shares of GigaCloud Technology by 2,444.8% during the 1st quarter. Jones Financial Companies Lllp now owns 4,199 shares of the company's stock worth $60,000 after acquiring an additional 4,034 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in shares of GigaCloud Technology by 24.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 142,055 shares of the company's stock valued at $2,017,000 after acquiring an additional 28,309 shares during the last quarter. Institutional investors own 34.94% of the company's stock.
Wall Street Analyst Weigh In
Several research analysts recently weighed in on the stock. Zacks Research raised shares of GigaCloud Technology from a "hold" rating to a "strong-buy" rating in a report on Wednesday, December 10th. Weiss Ratings lowered GigaCloud Technology from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Monday. Finally, Wall Street Zen raised GigaCloud Technology from a "hold" rating to a "buy" rating in a research note on Saturday, December 13th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $24.00.
Read Our Latest Stock Analysis on GigaCloud Technology
GigaCloud Technology Company Profile
(
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.
Featured Stories
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].
