Key Points
- Insider selling: Marshall Bernes sold 13,800 GigaCloud Technology shares for approximately $749,478 at an average price of $54.31, reducing his direct stake by 65.87% to 7,150 shares. He has also sold shares in several recent transactions.
- Strong financial results: GigaCloud reported quarterly EPS of $1.16, beating estimates of $0.90, while revenue of $411.64 million exceeded the $380.63 million consensus forecast.
- Stock and analyst outlook: GCT opened at $53.98, near its 52-week high of $56.27, and analysts maintain a “Moderate Buy” consensus after recent rating upgrades. Institutional investors own approximately 34.94% of the company.
GigaCloud Technology Inc. (NASDAQ:GCT - Get Free Report) insider Marshall Bernes sold 13,800 shares of the business's stock in a transaction that occurred on Friday, September 25th. The shares were sold at an average price of $54.31, for a total value of $749,478.00. Following the transaction, the insider directly owned 7,150 shares in the company, valued at approximately $388,316.50. This represents a 65.87% decrease in their position. The transaction was disclosed in a legal filing 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 shares were sold at an average price of $53.58, for a total value of $841,366.74.
- On Monday, September 21st, Marshall Bernes sold 12,000 shares of GigaCloud Technology stock. The stock was sold at an average price of $53.47, for a total value of $641,640.00.
- 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 transaction 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 Stock Up 0.1%
GCT stock opened at $53.98 on Friday. GigaCloud Technology Inc. has a twelve month low of $25.39 and a twelve month high of $56.27. The stock has a market capitalization of $1.93 billion, a price-to-earnings ratio of 12.76 and a beta of 1.65. The firm's fifty day simple moving average is $48.89 and its two-hundred day simple moving average is $42.64.
GigaCloud Technology (NASDAQ:GCT - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.26. GigaCloud Technology had a net margin of 10.65% and a return on equity of 31.42%. The firm had revenue of $411.64 million during the quarter, compared to analyst estimates of $380.63 million. As a group, equities research analysts expect that GigaCloud Technology Inc. will post 4.18 EPS for the current year.
Wall Street Analysts Forecast Growth
GCT has been the subject of several analyst reports. Weiss Ratings raised shares of GigaCloud Technology from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday. Wall Street Zen raised GigaCloud Technology from a "buy" rating to a "strong-buy" rating in a research note on Saturday. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy".
Read Our Latest Report on GCT
Institutional Trading of GigaCloud Technology
A number of large investors have recently made changes to their positions in the stock. Strs Ohio grew its holdings in shares of GigaCloud Technology by 3.7% in the first quarter. Strs Ohio now owns 11,100 shares of the company's stock worth $504,000 after purchasing an additional 400 shares during the last quarter. Arete Wealth Advisors LLC lifted its holdings in GigaCloud Technology by 6.7% during the 1st quarter. Arete Wealth Advisors LLC now owns 15,145 shares of the company's stock valued at $687,000 after buying an additional 945 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new stake in GigaCloud Technology in the 2nd quarter valued at about $30,000. Meeder Asset Management Inc. purchased a new stake in GigaCloud Technology in the 1st quarter valued at about $60,000. Finally, Archer Investment Corp bought a new position in GigaCloud Technology in the 1st quarter worth about $97,000. 34.94% of the stock is owned by hedge funds and other institutional investors.
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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