Key Points
- Lei Wu, GigaCloud’s CEO, sold roughly 438,090 shares in multiple transactions between Feb. 26 and Mar. 18 for about $18.9 million, trimming his stake to 180,000 shares after the Mar. 16 filing (with further sales reported thereafter).
- GigaCloud posted a strong quarter—$1.16 EPS vs. $0.65 estimate and revenue of $362.75M (+22.6% YoY)—and has seen several analyst upgrades to Buy/Strong Buy, though the average target price cited is $33.00.
GigaCloud Technology Inc. (NASDAQ:GCT - Get Free Report) CEO Lei Wu sold 30,000 shares of the company's stock in a transaction on Monday, March 16th. The stock was sold at an average price of $42.39, for a total transaction of $1,271,700.00. Following the transaction, the chief executive officer owned 180,000 shares of the company's stock, valued at approximately $7,630,200. The trade was a 14.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.
Lei Wu also recently made the following trade(s):
- On Wednesday, March 18th, Lei Wu sold 30,000 shares of GigaCloud Technology stock. The shares were sold at an average price of $43.21, for a total transaction of $1,296,300.00.
- On Friday, March 13th, Lei Wu sold 30,000 shares of GigaCloud Technology stock. The stock was sold at an average price of $41.36, for a total transaction of $1,240,800.00.
- 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 shares were 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 stock was sold at an average price of $44.08, for a total value of $1,763,200.00.
- On Tuesday, March 3rd, Lei Wu sold 58,090 shares of GigaCloud Technology stock. The stock was 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 shares were 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 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.
GigaCloud Technology Price Performance
Shares of GCT stock opened at $42.61 on Thursday. The business's fifty day moving average price is $40.17 and its 200 day moving average price is $35.21. The firm has a market capitalization of $1.58 billion, a PE ratio of 11.77 and a beta of 2.24. GigaCloud Technology Inc. has a 1-year low of $11.17 and a 1-year high of $48.00.
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, beating analysts' consensus estimates of $0.65 by $0.51. The company had revenue of $362.75 million during the quarter, compared to the consensus estimate of $332.33 million. GigaCloud Technology had a return on equity of 30.74% and a net margin of 10.65%.GigaCloud Technology's quarterly revenue was up 22.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.76 earnings per share. Equities research analysts expect that GigaCloud Technology Inc. will post 3.1 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in GCT. Invesco Ltd. boosted its position in shares of GigaCloud Technology by 211.6% in the 4th quarter. Invesco Ltd. now owns 145,439 shares of the company's stock worth $5,713,000 after buying an additional 98,763 shares in the last quarter. State of Tennessee Department of Treasury purchased a new position in GigaCloud Technology during the 4th quarter valued at about $322,000. Fuller & Thaler Asset Management Inc. purchased a new position in GigaCloud Technology during the 4th quarter valued at about $516,000. NewEdge Advisors LLC raised its position in GigaCloud Technology by 3,011.7% during the fourth quarter. NewEdge Advisors LLC now owns 11,451 shares of the company's stock worth $450,000 after acquiring an additional 11,083 shares during the last quarter. Finally, Empowered Funds LLC raised its position in GigaCloud Technology by 4.0% during the fourth quarter. Empowered Funds LLC now owns 170,081 shares of the company's stock worth $6,681,000 after acquiring an additional 6,596 shares during the last quarter. Institutional investors and hedge funds own 34.94% of the company's stock.
Analyst Ratings Changes
A number of analysts recently commented on GCT shares. Zacks Research raised shares of GigaCloud Technology from a "hold" rating to a "strong-buy" rating in a report on Tuesday, March 10th. Wall Street Zen raised shares of GigaCloud Technology from a "buy" rating to a "strong-buy" rating in a report on Saturday, February 28th. Finally, Weiss Ratings raised GigaCloud Technology from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Tuesday, January 27th. One equities research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company. According to MarketBeat, the company has an average rating of "Buy" and an average target price of $33.00.
Get Our Latest Stock Analysis on GCT
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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