Alps Advisors Inc. bought a new stake in shares of GigaCloud Technology Inc. (NASDAQ:GCT – Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 15,280 shares of the company’s stock, valued at approximately $434,000.
Other large investors have also recently made changes to their positions in the company. Ameritas Investment Partners Inc. grew its position in shares of GigaCloud Technology by 17.6% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,705 shares of the company’s stock valued at $54,000 after acquiring an additional 405 shares during the period. Tower Research Capital LLC TRC boosted its position in GigaCloud Technology by 25.6% during the second quarter. Tower Research Capital LLC TRC now owns 2,372 shares of the company’s stock worth $47,000 after purchasing an additional 483 shares in the last quarter. Stratos Wealth Partners LTD. grew its holdings in GigaCloud Technology by 5.6% in the second quarter. Stratos Wealth Partners LTD. now owns 10,945 shares of the company’s stock valued at $217,000 after purchasing an additional 585 shares during the period. Jones Financial Companies Lllp increased its position in shares of GigaCloud Technology by 184.6% in the third quarter. Jones Financial Companies Lllp now owns 908 shares of the company’s stock valued at $27,000 after buying an additional 589 shares in the last quarter. Finally, Police & Firemen s Retirement System of New Jersey raised its stake in shares of GigaCloud Technology by 31.5% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 6,209 shares of the company’s stock worth $123,000 after buying an additional 1,489 shares during the period. 34.94% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages recently commented on GCT. Wall Street Zen raised shares of GigaCloud Technology from a “hold” rating to a “buy” rating in a report on Saturday, December 13th. Zacks Research lowered shares of GigaCloud Technology from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 16th. Finally, Weiss Ratings upgraded shares of GigaCloud Technology from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, January 27th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $24.00.
GCT opened at $35.23 on Friday. The firm has a market capitalization of $1.31 billion, a price-to-earnings ratio of 10.55 and a beta of 2.28. The company’s 50 day simple moving average is $39.94 and its two-hundred day simple moving average is $33.13. GigaCloud Technology Inc. has a 1-year low of $11.17 and a 1-year high of $44.71.
In other news, CEO Lei Wu sold 20,000 shares of GigaCloud Technology stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $40.78, for a total transaction of $815,600.00. Following the transaction, the chief executive officer owned 678,090 shares in the company, valued at $27,652,510.20. The trade was a 2.86% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Xinyan Hao sold 800 shares of the company’s stock in a transaction dated Friday, December 5th. The shares were sold at an average price of $40.04, for a total transaction of $32,032.00. Following the completion of the sale, the chief operating officer directly owned 357,486 shares of the company’s stock, valued at $14,313,739.44. This represents a 0.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 331,229 shares of company stock valued at $12,449,189 over the last ninety days. Corporate insiders own 24.71% of the company’s stock.
GigaCloud Technology Inc (NASDAQ:GCT) is a China-based provider of software-as-a-service (SaaS) and cloud computing solutions tailored for cross-border e-commerce. The company’s core offering, its Supply Chain Embedded E-commerce as a Service (SCEaaS) platform, integrates procurement, order management, warehousing, logistics and payment services into a unified cloud-based system. This end-to-end digital supply chain solution is designed to help small and medium-sized Chinese exporters efficiently connect with global buyers without the need to build and maintain their own infrastructure.
Through its modular, subscription-based SaaS model, GigaCloud enables merchants to scale operations on demand and minimize upfront capital expenditures.
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