GigaCloud technology director Chen Zhiwu sells $159,360 in shares

GigaCloud Technology Inc (NASDAQ: GCT) director Chen Zhiwu recently sold 3,000 of the company's Class A Ordinary Shares, amounting to $159,360. The transactions took place on September 18, 2026, at prices between $52.88 and $53.48 per share. Following the sale, Chen currently holds 21,057 Class A Ordinary Shares. GigaCloud's stock price has surged 76% over the past year, currently trading near $53, with a P/E ratio of 11.8, suggesting the stock is undervalued.

The company recently reported strong second-quarter results for 2026, beating analyst expectations with earnings per share of $1.65 and revenue of $411.64 million, a 28% year-over-year increase. This growth is attributed to both organic expansion and the acquisition of New Classic. GigaCloud has also announced a new $120 million share buyback plan, demonstrating its commitment to returning value to shareholders.

However, an affiliated entity of CEO Lei Wu has a pending prepaid variable forward contract for up to 700,000 Class A ordinary shares, with 286,058 shares executed so far. The remaining shares are contingent on market conditions and expected to be finalized by September 30, 2026.