Key Points
- CEO Lei Wu sold 30,000 shares on March 13 at an average of $41.36 for $1.24M and has sold about 398,300 shares across January–March for roughly $17.14M, leaving him with 210,000 shares (a 12.5% reduction).
- GigaCloud beat Q4 estimates with $1.16 EPS and $362.75M revenue (up 22.6% YoY); analysts maintain a consensus "Buy" rating with a $33 target and the company has a ~$1.57B market cap.
GigaCloud Technology Inc. (NASDAQ:GCT - Get Free Report) CEO Lei Wu sold 30,000 shares of the stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $41.36, for a total transaction of $1,240,800.00. Following the sale, the chief executive officer directly owned 210,000 shares of the company's stock, valued at $8,685,600. This represents a 12.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.
Lei Wu also recently made the following trade(s):
- On Wednesday, March 11th, Lei Wu sold 30,000 shares of GigaCloud Technology stock. The stock was sold at an average price of $43.38, for a total transaction of $1,301,400.00.
- On Monday, March 9th, Lei Wu sold 30,000 shares of GigaCloud Technology stock. The shares were sold at an average price of $42.13, for a total transaction of $1,263,900.00.
- 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 transaction of $1,293,300.00.
- On Wednesday, March 4th, Lei Wu sold 40,000 shares of GigaCloud Technology stock. The stock was 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 transaction 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.
GigaCloud Technology Price Performance
Shares of NASDAQ:GCT opened at $42.33 on Tuesday. GigaCloud Technology Inc. has a 1 year low of $11.17 and a 1 year high of $48.00. The business's 50-day moving average is $40.12 and its 200-day moving average is $35.05. The company has a market capitalization of $1.57 billion, a price-to-earnings ratio of 11.69 and a beta of 2.24.
GigaCloud Technology (NASDAQ:GCT - Get Free Report) last released its earnings results on Thursday, February 26th. The company reported $1.16 EPS for the quarter, topping the consensus estimate of $0.65 by $0.51. The business had revenue of $362.75 million during the quarter, compared to analysts' expectations of $332.33 million. GigaCloud Technology had a return on equity of 30.74% and a net margin of 10.65%.The firm's revenue was up 22.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.76 earnings per share. Analysts anticipate that GigaCloud Technology Inc. will post 3.1 EPS for the current year.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in the company. Jones Financial Companies Lllp boosted its holdings in GigaCloud Technology by 184.6% in the third quarter. Jones Financial Companies Lllp now owns 908 shares of the company's stock worth $27,000 after acquiring an additional 589 shares in the last quarter. Quarry LP bought a new stake in shares of GigaCloud Technology during the third quarter valued at approximately $29,000. Larson Financial Group LLC acquired a new position in shares of GigaCloud Technology during the third quarter worth approximately $30,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of GigaCloud Technology during the third quarter worth approximately $30,000. Finally, Wealth Enhancement Advisory Services LLC bought a new position in shares of GigaCloud Technology in the 4th quarter worth $44,000. 34.94% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several analysts have recently commented on GCT shares. Weiss Ratings raised shares of GigaCloud Technology from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Tuesday, January 27th. Zacks Research raised shares of GigaCloud Technology from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, March 10th. Finally, Wall Street Zen raised shares of GigaCloud Technology from a "buy" rating to a "strong-buy" rating in a research note on Saturday, February 28th. One investment analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $33.00.
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About GigaCloud Technology
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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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