Key Points
- CEO Lei Wu sold 58,090 shares on March 3 at $40.99, leaving him with 460,000 shares (an 11.21% ownership decline) valued at about $18.86 million.
- Wu executed multiple sales from January through March that generated over $15 million in proceeds across the transactions.
- Separately, GigaCloud beat quarterly estimates ($1.04 EPS vs. $0.65 consensus; revenue $362.8M vs. $332.3M), yet the stock traded down 2.7% to $42.48; the consensus analyst rating is a Moderate Buy with an average target of $33.
GigaCloud Technology Inc. (NASDAQ:GCT - Get Free Report) CEO Lei Wu sold 30,000 shares of the stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $43.11, for a total transaction of $1,293,300.00. Following the sale, the chief executive officer owned 390,000 shares in the company, valued at approximately $16,812,900. The trade was a 7.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Lei Wu also recently made the following trade(s):
- On Wednesday, March 4th, Lei Wu sold 40,000 shares of GigaCloud Technology stock. The shares were sold at an average price of $44.08, for a total transaction of $1,763,200.00.
- On Tuesday, March 3rd, Lei Wu sold 58,090 shares of GigaCloud Technology stock. The shares were sold at an average price of $40.99, for a total transaction of $2,381,109.10.
- On Monday, March 2nd, Lei Wu sold 30,000 shares of GigaCloud Technology stock. The shares were sold at an average price of $42.83, for a total transaction of $1,284,900.00.
- 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 stock was 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 stock was 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 shares were sold at an average price of $40.26, for a total value of $8,454.60.
- On Tuesday, January 20th, Lei Wu sold 1,700 shares of GigaCloud Technology stock. The shares were 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 stock was 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 value of $818,800.00.
GigaCloud Technology Price Performance
Shares of NASDAQ:GCT traded down $1.50 during trading on Friday, hitting $42.17. The company's stock had a trading volume of 105,731 shares, compared to its average volume of 610,903. The firm has a market cap of $1.56 billion, a price-to-earnings ratio of 11.58 and a beta of 2.24. The company has a 50-day moving average of $39.68 and a 200-day moving average of $34.32. GigaCloud Technology Inc. has a 12 month low of $11.17 and a 12 month high of $48.00.
GigaCloud Technology (NASDAQ:GCT - Get Free Report) last announced its earnings results on Thursday, February 26th. The company reported $1.04 EPS for the quarter, beating analysts' consensus estimates of $0.65 by $0.39. GigaCloud Technology had a net margin of 10.65% and a return on equity of 30.74%. The business had revenue of $362.75 million during the quarter, compared to analysts' expectations of $332.33 million. During the same period in the prior year, the company earned $0.76 earnings per share. The firm's revenue was up 22.6% on a year-over-year basis. As a group, research analysts anticipate that GigaCloud Technology Inc. will post 3.1 earnings per share for the current year.
Institutional Investors Weigh In On GigaCloud Technology
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Royal Bank of Canada grew its holdings in GigaCloud Technology by 91.4% in the first quarter. Royal Bank of Canada now owns 46,638 shares of the company's stock worth $661,000 after purchasing an additional 22,273 shares during the last quarter. AQR Capital Management LLC grew its stake in GigaCloud Technology by 355.1% during the 1st quarter. AQR Capital Management LLC now owns 99,669 shares of the company's stock worth $1,415,000 after buying an additional 77,769 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in GigaCloud Technology by 34.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,230 shares of the company's stock worth $458,000 after buying an additional 8,274 shares during the last quarter. Jones Financial Companies Lllp increased its position in GigaCloud Technology by 2,444.8% during the 1st quarter. Jones Financial Companies Lllp now owns 4,199 shares of the company's stock valued at $60,000 after buying an additional 4,034 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in GigaCloud Technology by 24.9% in the first quarter. Goldman Sachs Group Inc. now owns 142,055 shares of the company's stock valued at $2,017,000 after buying an additional 28,309 shares during the last quarter. Hedge funds and other institutional investors own 34.94% of the company's stock.
Analyst Ratings Changes
A number of brokerages have commented on GCT. Wall Street Zen upgraded GigaCloud Technology from a "buy" rating to a "strong-buy" rating in a research report on Saturday, February 28th. Weiss Ratings upgraded shares of GigaCloud Technology from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday, January 27th. Finally, Zacks Research lowered GigaCloud Technology from a "strong-buy" rating to a "hold" rating in a research report on Friday, January 16th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, GigaCloud Technology has a consensus rating of "Moderate Buy" and a consensus target price of $33.00.
Get Our Latest Analysis on GCT
GigaCloud Technology Company Profile
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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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