Key Points
- Marshall Bernes sold 15,703 GigaCloud Technology shares at an average price of $53.58, generating approximately $841,367. Following the sale, his holdings fell 38.16% to 25,447 shares.
- GigaCloud’s latest quarterly results exceeded expectations, with EPS of $1.16 versus the $0.90 estimate and revenue of $411.64 million, above the $380.63 million consensus.
- GigaCloud shares opened at $52.50, with a market capitalization of approximately $1.87 billion. Analysts maintain a consensus “Hold” rating, while institutional investors own 34.94% of the stock.
GigaCloud Technology Inc. (NASDAQ:GCT - Get Free Report) insider Marshall Bernes sold 12,000 shares of the business's stock in a transaction that occurred on Monday, September 21st. The shares were sold at an average price of $53.47, for a total value of $641,640.00. Following the completion of the transaction, the insider directly owned 41,150 shares in the company, valued at approximately $2,200,290.50. The trade was a 22.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.
Marshall Bernes also recently made the following trade(s):
- On Tuesday, September 22nd, Marshall Bernes sold 15,703 shares of GigaCloud Technology stock. The stock was sold at an average price of $53.58, for a total value of $841,366.74.
- On Thursday, August 13th, Marshall Bernes sold 10,000 shares of GigaCloud Technology stock. The stock was sold at an average price of $53.00, for a total value of $530,000.00.
- On Monday, August 10th, Marshall Bernes sold 5,000 shares of GigaCloud Technology stock. The shares were sold at an average price of $51.88, for a total transaction of $259,400.00.
GigaCloud Technology Price Performance
NASDAQ:GCT opened at $52.50 on Thursday. The firm has a market cap of $1.87 billion, a price-to-earnings ratio of 12.41 and a beta of 1.65. The firm's fifty day moving average price is $48.26 and its 200 day moving average price is $42.48. GigaCloud Technology Inc. has a 1-year low of $25.39 and a 1-year high of $56.27.
GigaCloud Technology (NASDAQ:GCT - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported $1.16 EPS for the quarter, topping analysts' consensus estimates of $0.90 by $0.26. GigaCloud Technology had a net margin of 10.65% and a return on equity of 31.42%. The company had revenue of $411.64 million during the quarter, compared to the consensus estimate of $380.63 million. As a group, analysts expect that GigaCloud Technology Inc. will post 4.18 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of GCT. Integrated Wealth Concepts LLC acquired a new stake in GigaCloud Technology in the second quarter valued at $30,000. Meeder Asset Management Inc. acquired a new position in shares of GigaCloud Technology during the 1st quarter worth $60,000. Archer Investment Corp purchased a new position in shares of GigaCloud Technology in the 1st quarter valued at about $97,000. Pictet Asset Management Holding SA purchased a new position in shares of GigaCloud Technology in the 1st quarter valued at about $203,000. Finally, Moran Wealth Management LLC acquired a new stake in shares of GigaCloud Technology in the first quarter valued at about $247,000. Hedge funds and other institutional investors own 34.94% of the company's stock.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings reissued a "hold (c+)" rating on shares of GigaCloud Technology in a report on Friday, September 4th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, GigaCloud Technology has a consensus rating of "Hold".
Get Our Latest Analysis on GigaCloud Technology
GigaCloud Technology Company Profile
(
Get Free Report)
GigaCloud Technology Inc operates a business-to-business e-commerce platform focused on large-parcel merchandise. Its GigaCloud Marketplace connects manufacturers, primarily in Asia, with resellers and retailers in North America, Europe and other markets. The platform is designed for products such as furniture, appliances, fitness equipment and other bulky consumer goods that can be more complex to ship and sell through traditional e-commerce channels.
In addition to facilitating transactions, GigaCloud provides integrated services intended to support the order lifecycle, including payments, warehousing, international freight, delivery coordination and last-mile logistics.
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