Market Data 
Executives and affiliated funds of DCM have recently sold a significant amount of shares in GigaCloud Technology Inc (NASDAQ:), a company specializing in retail-catalog and mail-order houses. The transactions, which occurred on March 19, 2024, involved the sale of 133,097 Class A ordinary shares at an average price of $30.3823 per share, resulting in a total sale value of approximately $4,043,792.
The shares were sold in a range between $30.00 and $30.96, indicating a slight variation in the trading prices on the date of the transaction. Following the sale, the reporting entities still hold a substantial number of shares, with a combined total ownership of 5,764,302 Class A ordinary shares, as indicated in the footnotes of the report.
The entities involved in the sale include DCM IV, L.P., DCM Affiliates Fund IV, L.P., DCM IX, L.P., and DCM Affiliates Fund IX, L.P. The footnotes also reveal that DCM Investment Management IV, L.P., and DCM International IV, Ltd., are the general partners of the first two entities, while DCM Investment Management IX, L.P., and DCM International IX, Ltd., serve as general partners for the latter two.
Directors Frank Hurst Lin and Matthew C. Bonner, who are associated with the general partners of these funds, may be deemed to have indirect beneficial ownership of the sold shares. However, they have disclaimed beneficial ownership of these securities, except to the extent of their pecuniary interest.
This sale represents a notable change in the holdings of key stakeholders in GigaCloud Technology Inc, and it’s important for investors to be aware of these transactions as they assess the company’s stock performance and insider confidence.
InvestingPro Insights
The recent sale of shares by executives and affiliated funds of DCM in GigaCloud Technology Inc (NASDAQ:GCT) has caught the attention of investors trying to gauge insider sentiment. To provide a more comprehensive picture, here are some key metrics and insights from InvestingPro that could help investors make informed decisions:
- The market capitalization of GigaCloud Technology stands at approximately $1.18 billion, reflecting the company’s size and market value within the retail-catalog and mail-order houses industry.
- With a Price/Earnings (P/E) ratio of 18.76 and an adjusted P/E ratio for the last twelve months as of Q4 2023 at 12.86, GigaCloud Technology is trading at multiples that suggest a valuation in line with its earnings. The PEG ratio during the same period stands at an incredibly low 0.05, hinting at a potentially undervalued stock in terms of growth.
- Revenue growth has been strong, with an impressive increase of 43.62% over the last twelve months as of Q4 2023. This is coupled with a quarterly revenue growth of 94.85% in Q1 2023, indicating robust sales performance.
InvestingPro Tips highlight that analysts anticipate sales growth in the current year, which aligns with the revenue growth data. GCT’s stock has experienced significant price volatility, as evidenced by the high price volatility tip and the recent large price movements, including a 29.39% decrease over the last week and a 498.62% return over the last year. This volatility is something investors should consider when evaluating the stock.
For those looking for more in-depth analysis and additional tips, there are 13 more InvestingPro Tips available for GigaCloud Technology. These tips provide valuable insights into the company’s financial health, stock performance, and market position. To access these tips and enhance your investment strategy, visit InvestingPro and use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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