Key Points
- Lei Wu sold 360,000 shares in a series of recent transactions (including 30,000 shares on March 9 at $42.13), reducing his stake to 330,000 shares—about an 8.33% drop and roughly $13.9 million in remaining holdings.
- Despite the insider selling, GigaCloud reported strong quarterly results, beating EPS estimates ($1.16 vs. $0.65) and posting revenue of $362.75M (up 22.6% year-over-year); the stock carries a market cap of $1.58B and a consensus analyst rating of "Moderate Buy."
GigaCloud Technology Inc. (NASDAQ:GCT - Get Free Report) CEO Lei Wu sold 30,000 shares of GigaCloud Technology stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $42.13, for a total value of $1,263,900.00. Following the sale, the chief executive officer directly owned 330,000 shares of the company's stock, valued at approximately $13,902,900. The trade was a 8.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Lei Wu also recently made the following trade(s):
- On Thursday, March 5th, Lei Wu sold 30,000 shares of GigaCloud Technology stock. The stock was sold at an average price of $43.11, for a total value of $1,293,300.00.
- 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 value of $2,381,109.10.
- On Monday, March 2nd, Lei Wu sold 30,000 shares of GigaCloud Technology stock. The stock was sold at an average price of $42.83, for a total value of $1,284,900.00.
- On Friday, February 27th, Lei Wu sold 60,000 shares of GigaCloud Technology stock. The stock was 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 transaction 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 transaction of $826,800.00.
GigaCloud Technology Trading Down 3.2%
Shares of NASDAQ:GCT opened at $42.69 on Wednesday. The firm has a 50 day moving average of $39.88 and a 200-day moving average of $34.61. GigaCloud Technology Inc. has a 12 month low of $11.17 and a 12 month high of $48.00. The stock has a market capitalization of $1.58 billion, a PE ratio of 11.79 and a beta of 2.24.
GigaCloud Technology (NASDAQ:GCT - Get Free Report) last announced its quarterly earnings data on Thursday, February 26th. The company reported $1.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.65 by $0.51. 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 for the quarter, compared to analysts' expectations of $332.33 million. During the same period last year, the firm posted $0.76 earnings per share. The firm's quarterly revenue was up 22.6% compared to the same quarter last year. On average, research analysts predict that GigaCloud Technology Inc. will post 3.1 EPS for the current fiscal year.
Hedge Funds Weigh In On GigaCloud Technology
Institutional investors and hedge funds have recently bought and sold shares of the company. Ameritas Investment Partners Inc. raised its position in GigaCloud Technology by 17.6% in the second quarter. Ameritas Investment Partners Inc. now owns 2,705 shares of the company's stock valued at $54,000 after purchasing an additional 405 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in shares of GigaCloud Technology by 25.6% in the second quarter. Tower Research Capital LLC TRC now owns 2,372 shares of the company's stock valued at $47,000 after buying an additional 483 shares during the period. SG Americas Securities LLC increased its stake in shares of GigaCloud Technology by 10.2% in the fourth quarter. SG Americas Securities LLC now owns 5,249 shares of the company's stock valued at $206,000 after buying an additional 485 shares during the period. Jones Financial Companies Lllp raised its holdings in GigaCloud Technology by 184.6% in the 3rd quarter. Jones Financial Companies Lllp now owns 908 shares of the company's stock valued at $27,000 after buying an additional 589 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in GigaCloud Technology by 14.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,853 shares of the company's stock valued at $166,000 after buying an additional 759 shares during the last quarter. Institutional investors and hedge funds own 34.94% of the company's stock.
Analyst Upgrades and Downgrades
Several analysts recently weighed in on GCT shares. Weiss Ratings upgraded GigaCloud Technology from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Tuesday, January 27th. Wall Street Zen raised GigaCloud Technology from a "buy" rating to a "strong-buy" rating in a research note on Saturday, February 28th. Finally, Zacks Research downgraded shares of GigaCloud Technology from a "strong-buy" rating to a "hold" rating in a research note on Friday, January 16th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $33.00.
View Our Latest Research 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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