Key Points
- Lei Wu, GigaCloud’s CEO, sold five separate blocks of 20,000 shares each in early–mid January (a total of 100,000 shares), raising about $4.20 million; after the Jan. 14 sale he owned roughly 740,000 shares.
- GigaCloud recently beat quarterly expectations with $0.99 EPS and $332.6M revenue, yet the stock is trading near $40 (down ~2.8%) while analysts are mixed—MarketBeat lists a consensus “Moderate Buy” but a $24 price target below the current level.
GigaCloud Technology Inc. (NASDAQ:GCT - Get Free Report) CEO Lei Wu sold 20,000 shares of the stock in a transaction dated Wednesday, January 14th. The shares were sold at an average price of $40.94, for a total transaction of $818,800.00. Following the transaction, the chief executive officer owned 740,000 shares of the company's stock, valued at approximately $30,295,600. The trade was a 2.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Lei Wu also recently made the following trade(s):
- On Friday, January 16th, Lei Wu sold 20,000 shares of GigaCloud Technology stock. The stock was sold at an average price of $41.34, for a total transaction of $826,800.00.
- 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 transaction of $867,800.00.
- On Friday, January 9th, Lei Wu sold 20,000 shares of GigaCloud Technology stock. The shares were sold at an average price of $42.08, for a total transaction of $841,600.00.
- 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 transaction of $847,200.00.
GigaCloud Technology Trading Down 2.8%
NASDAQ:GCT opened at $40.41 on Friday. The firm's 50 day moving average is $38.16 and its 200 day moving average is $30.58. GigaCloud Technology Inc. has a 12 month low of $11.17 and a 12 month high of $44.71. The stock has a market capitalization of $1.50 billion, a PE ratio of 12.10 and a beta of 2.28.
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 analysts' consensus estimates of $0.65 by $0.34. The business had revenue of $332.64 million during 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 for the quarter was up 9.7% on a year-over-year basis. During the same period last year, the business posted $1.15 earnings per share. Research analysts predict that GigaCloud Technology Inc. will post 3.1 earnings per share for the current year.
Wall Street Analysts Forecast Growth
Several equities research analysts have commented on the stock. Wall Street Zen raised shares of GigaCloud Technology from a "hold" rating to a "buy" rating in a report on Saturday, December 13th. Weiss Ratings cut shares of GigaCloud Technology from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Monday. Finally, Zacks Research raised shares of GigaCloud Technology from a "hold" rating to a "strong-buy" rating in a report on Wednesday, December 10th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, GigaCloud Technology has an average rating of "Moderate Buy" and a consensus target price of $24.00.
View Our Latest Report on GCT
Hedge Funds Weigh In On GigaCloud Technology
Large investors have recently modified their holdings of the company. Jones Financial Companies Lllp grew its stake in GigaCloud Technology by 184.6% during the third quarter. Jones Financial Companies Lllp now owns 908 shares of the company's stock valued at $27,000 after acquiring an additional 589 shares in the last quarter. Quarry LP purchased a new stake in GigaCloud Technology in the 3rd quarter worth approximately $29,000. Larson Financial Group LLC bought a new position in GigaCloud Technology in the 3rd quarter valued at $30,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of GigaCloud Technology during the 3rd quarter valued at $30,000. Finally, Ameritas Advisory Services LLC bought a new position in shares of GigaCloud Technology in the second quarter worth $35,000. 34.94% of the stock is currently owned by institutional investors.
About GigaCloud Technology
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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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