GigaCloud head of brand center Bernes sells $1.48m stock

Marshall Bernes, the head of GigaCloud Technology Inc.'s Brand Center and a director of the company (NASDAQ:GCT), engaged in two separate stock sales worth $1.48 million in late September 2026. On September 21, he sold 12,000 shares at $53.4738 per share, while on September 22, he sold an additional 15,703 shares at a price of $53.5849 per share.

The sale involved a total of 27,703 Class A Ordinary Shares, with prices fluctuating between $53.4738 and $53.5849. Following these transactions, Bernes indirectly owned 25,447 shares of the company, held by the Marshall R. Bernes Family Trust, of which he serves as settlor and co-trustee. Despite GigaCloud's stock being undervalued, currently trading at $52.50 and with a fair value of $59.29, the insider sale highlights the company's strong financial performance.

In Q2 2026, GigaCloud reported impressive results, exceeding expectations with $1.65 earnings per share and $411.64 million in revenue, marking a 28% increase from the previous year. The company anticipates further growth, with a board-approved $120 million share buyback plan to bolster capital returns. CEO Lei Wu has also participated in a share transaction, with 286,058 shares executed out of a planned 700,000, pending market conditions.