Cetera Investment Advisers Trims Holdings in GigaCloud Technology Inc. $GCT

Key Points

• Cetera Investment Advisers has reduced its holdings in GigaCloud Technology by 45.6% during the first quarter, leaving them with 16,644 shares valued at $236,000.
• JPMorgan Chase & Co. and Legal & General Group have both increased their stakes in GigaCloud Technology, indicating continued institutional interest in the company.
• GigaCloud Technology's stock is facing recent volatility, currently trading at $29.95, with a 52-week range of $11.17 to $34.50.

Cetera Investment Advisers decreased its position in GigaCloud Technology Inc. (NASDAQ:GCT - Free Report) by 45.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,644 shares of the company's stock after selling 13,971 shares during the quarter. Cetera Investment Advisers' holdings in GigaCloud Technology were worth $236,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Principal Financial Group Inc. increased its stake in GigaCloud Technology by 1.4% in the first quarter. Principal Financial Group Inc. now owns 74,234 shares of the company's stock valued at $1,054,000 after purchasing an additional 1,028 shares during the last quarter. Mariner LLC increased its stake in GigaCloud Technology by 10.5% in the fourth quarter. Mariner LLC now owns 11,066 shares of the company's stock valued at $205,000 after purchasing an additional 1,056 shares during the last quarter. PFG Investments LLC increased its stake in GigaCloud Technology by 9.4% in the first quarter. PFG Investments LLC now owns 16,835 shares of the company's stock valued at $239,000 after purchasing an additional 1,450 shares during the last quarter. Janus Henderson Group PLC increased its stake in GigaCloud Technology by 7.4% in the fourth quarter. Janus Henderson Group PLC now owns 28,217 shares of the company's stock valued at $523,000 after purchasing an additional 1,934 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in GigaCloud Technology by 9.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,956 shares of the company's stock valued at $444,000 after purchasing an additional 1,981 shares during the last quarter. 34.94% of the stock is currently owned by hedge funds and other institutional investors.

GigaCloud Technology Stock Down 0.9%

NASDAQ:GCT traded down $0.25 during midday trading on Wednesday, reaching $26.29. The stock had a trading volume of 69,418 shares, compared to its average volume of 933,707. The firm has a fifty day simple moving average of $23.48 and a two-hundred day simple moving average of $18.60. GigaCloud Technology Inc. has a 12-month low of $11.17 and a 12-month high of $34.50. The stock has a market cap of $990.31 million, a P/E ratio of 7.89 and a beta of 2.36.

GigaCloud Technology (NASDAQ:GCT - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.91 earnings per share for the quarter, beating analysts' consensus estimates of $0.46 by $0.45. GigaCloud Technology had a net margin of 11.17% and a return on equity of 32.33%. The firm had revenue of $322.61 million for the quarter, compared to analyst estimates of $290.08 million. During the same period last year, the firm posted $1.03 EPS. GigaCloud Technology's quarterly revenue was up 3.8% on a year-over-year basis. GigaCloud Technology has set its Q3 2025 guidance at EPS. On average, sell-side analysts anticipate that GigaCloud Technology Inc. will post 3.1 earnings per share for the current fiscal year.

GigaCloud Technology declared that its board has authorized a stock buyback plan on Monday, August 18th that allows the company to buyback $0.00 in shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company's management believes its stock is undervalued.

Insider Buying and Selling

In other GigaCloud Technology news, insider Marshall Bernes sold 16,000 shares of the firm's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $31.29, for a total value of $500,640.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 24.71% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Lake Street Capital increased their price target on shares of GigaCloud Technology from $26.00 to $33.00 and gave the company a "buy" rating in a research note on Friday, August 8th. Zacks Research upgraded shares of GigaCloud Technology from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 19th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, GigaCloud Technology has a consensus rating of "Hold" and a consensus price target of $24.00.

About GigaCloud Technology

GigaCloud Technology Inc provides end-to-end B2B ecommerce solutions for large parcel merchandise in the United States and internationally. The company offers GigaCloud Marketplace integrates product discovery to payments to logistics tools into one easy-to-use platform. Its marketplace connects manufacturers primarily in Asia with resellers in the United States, Asia, and Europe to execute cross-border transactions across furniture, home appliance, fitness equipment, and other large parcel categories.