GigaCloud technology director Bernes sells $990k in shares

Marshall Bernes, a director at GigaCloud Technology Inc. (GCT), sold shares of the company's Class A Ordinary Shares recently. He sold a total of $990,401 worth of shares. On September 24, 2026, he sold 4,497 shares at $53.5838 each. The next day, on September 25, 2026, he sold an additional 13,800 shares at $54.3069 each. These transactions occurred within a price range of $53.5838 to $54.3069.

The stock was trading close to its 52-week high of $56.27 at the time. GigaCloud has seen a remarkable 82% return over the past year. Mr. Bernes indirectly owns 7,150 shares through the Marshall R. Bernes Family Trust. The company is currently considered undervalued, according to InvestingPro analysis. GigaCloud reported strong second-quarter results for 2026, exceeding expectations with $1.65 earnings per share and $411.64 million in revenue, a 28% increase from the previous year.

This growth was driven by both organic expansion and the acquisition of New Classic. The company highlighted Europe as a significant contributor to its success. GigaCloud also approved a $120 million share buyback plan. An affiliated entity of GigaCloud’s CEO has a pending contract involving up to 700,000 shares, although only 286,058 have been executed so far.

Despite challenges in the furniture market, GigaCloud continues to gain market share using its marketplace and logistics platform. The company attributes its strong performance to disciplined execution and pricing power.