Key Points
- GigaCloud CEO Lei Wu sold 30,000 shares on March 2 at an average price of $42.83 for about $1.285M, and has sold roughly 282,000 shares since Jan. 7, cutting his stake by 5.47% to 518,090 shares (valued at ≈$22.19M).
- The company posted a strong quarter, beating EPS estimates ($1.04 vs. $0.65) and reporting $362.8M in revenue (up 22.6% year-over-year) with healthy margins and return on equity.
GigaCloud Technology Inc. (NASDAQ:GCT - Get Free Report) CEO Lei Wu sold 30,000 shares of the business's stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $42.83, for a total value of $1,284,900.00. Following the completion of the transaction, the chief executive officer owned 518,090 shares of the company's stock, valued at $22,189,794.70. This trade represents a 5.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Lei Wu also recently made the following trade(s):
- On Friday, February 27th, Lei Wu sold 60,000 shares of GigaCloud Technology stock. The shares were sold at an average price of $43.57, for a total value of $2,614,200.00.
- On Thursday, February 26th, Lei Wu sold 70,000 shares of GigaCloud Technology stock. The shares were sold at an average price of $45.28, for a total value of $3,169,600.00.
- On Thursday, January 22nd, Lei Wu sold 20,000 shares of GigaCloud Technology stock. The shares were sold at an average price of $40.78, for a total value of $815,600.00.
- On Wednesday, January 21st, Lei Wu sold 210 shares of GigaCloud Technology stock. The stock was sold at an average price of $40.26, for a total transaction of $8,454.60.
- On Tuesday, January 20th, Lei Wu sold 1,700 shares of GigaCloud Technology stock. The stock was sold at an average price of $40.01, for a total value of $68,017.00.
- On Friday, January 16th, Lei Wu sold 20,000 shares of GigaCloud Technology stock. The shares were sold at an average price of $41.34, for a total value of $826,800.00.
- On Wednesday, January 14th, Lei Wu sold 20,000 shares of GigaCloud Technology stock. The shares were sold at an average price of $40.94, for a total transaction of $818,800.00.
- 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 value 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 value 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 Price Performance
GCT opened at $43.01 on Tuesday. The stock has a market cap of $1.59 billion, a P/E ratio of 11.88 and a beta of 2.24. GigaCloud Technology Inc. has a 12 month low of $11.17 and a 12 month high of $48.00. The stock's 50 day moving average price is $39.49 and its 200 day moving average price is $34.11.
GigaCloud Technology (NASDAQ:GCT - Get Free Report) last announced its earnings results on Thursday, February 26th. The company reported $1.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.65 by $0.39. The firm had revenue of $362.75 million during the quarter, compared to analyst estimates of $332.33 million. GigaCloud Technology had a net margin of 10.65% and a return on equity of 30.74%. GigaCloud Technology's revenue was up 22.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.76 EPS. Equities analysts anticipate that GigaCloud Technology Inc. will post 3.1 EPS for the current year.
Institutional Investors Weigh In On GigaCloud Technology
Several hedge funds have recently made changes to their positions in GCT. LSV Asset Management lifted its position in shares of GigaCloud Technology by 824.2% in the 4th quarter. LSV Asset Management now owns 736,600 shares of the company's stock worth $28,934,000 after acquiring an additional 656,900 shares during the period. Arrowstreet Capital Limited Partnership bought a new stake in GigaCloud Technology during the third quarter worth about $14,335,000. UBS Group AG increased its holdings in GigaCloud Technology by 133.8% during 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 in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of GigaCloud Technology by 67.7% in the second quarter. JPMorgan Chase & Co. now owns 339,885 shares of the company's stock valued at $6,723,000 after buying an additional 137,201 shares during the last quarter. Finally, Dimensional Fund Advisors LP bought a new position in shares of GigaCloud Technology in the fourth quarter worth about $5,266,000. Institutional investors own 34.94% of the company's stock.
Wall Street Analyst Weigh In
A number of equities research analysts have recently commented on the company. Zacks Research downgraded GigaCloud Technology from a "strong-buy" rating to a "hold" rating in a research report on Friday, January 16th. Wall Street Zen upgraded shares of GigaCloud Technology from a "buy" rating to a "strong-buy" rating in a research report on Saturday. Finally, Weiss Ratings upgraded GigaCloud Technology from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday, January 27th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $24.00.
Check Out Our Latest Report 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.
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