Cubist Systematic Strategies LLC Invests $981,000 in GigaCloud Technology Inc. $GCT

Key Points

• Cubist Systematic Strategies LLC acquired a new position in GigaCloud Technology Inc., purchasing 69,118 shares valued at approximately $981,000, indicating a growing interest among institutional investors.
• Several hedge funds, including Northern Trust Corp and Jane Street Group LLC, significantly increased their holdings in GigaCloud during the fourth quarter, reflecting confidence in the company's future performance.
• Despite a recent stock buyback announcement suggesting the company's shares may be undervalued, analysts have mixed ratings on GigaCloud, with price targets ranging from $24.00 to $33.00.

Cubist Systematic Strategies LLC acquired a new stake in GigaCloud Technology Inc. (NASDAQ:GCT - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 69,118 shares of the company's stock, valued at approximately $981,000. Cubist Systematic Strategies LLC owned about 0.17% of GigaCloud Technology as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. CWM LLC increased its stake in shares of GigaCloud Technology by 319.8% during the first quarter. CWM LLC now owns 2,821 shares of the company's stock worth $40,000 after purchasing an additional 2,149 shares during the period. Russell Investments Group Ltd. increased its stake in GigaCloud Technology by 724.7% during the 1st quarter. Russell Investments Group Ltd. now owns 4,148 shares of the company's stock worth $59,000 after acquiring an additional 3,645 shares during the period. Heck Capital Advisors LLC bought a new position in GigaCloud Technology during the 4th quarter worth $79,000. Banque Cantonale Vaudoise bought a new position in GigaCloud Technology during the 1st quarter worth $103,000. Finally, Squarepoint Ops LLC bought a new position in GigaCloud Technology during the 4th quarter worth $189,000. Institutional investors own 34.94% of the company's stock.

Analysts Set New Price Targets

GCT has been the topic of a number of recent research reports. Zacks Research upgraded GigaCloud Technology from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 19th. Lake Street Capital raised their price objective on GigaCloud Technology from $26.00 to $33.00 and gave the stock a "buy" rating in a research note on Friday, August 8th. Finally, Wall Street Zen lowered GigaCloud Technology from a "buy" rating to a "hold" rating in a research note on Sunday, September 7th. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, GigaCloud Technology presently has a consensus rating of "Hold" and a consensus price target of $24.00.

Insider Activity at GigaCloud Technology

In other GigaCloud Technology news, insider Marshall Bernes sold 16,000 shares of the business's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $31.29, for a total transaction of $500,640.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Lei Wu sold 100,000 shares of the business's stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $28.52, for a total transaction of $2,852,000.00. Following the sale, the chief executive officer directly owned 60,000 shares in the company, valued at $1,711,200. The trade was a 62.50% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 120,000 shares of company stock worth $3,481,720. 24.71% of the stock is owned by company insiders.

GigaCloud Technology Price Performance

Shares of NASDAQ GCT traded up $0.66 during midday trading on Friday, reaching $29.73. The company's stock had a trading volume of 927,562 shares, compared to its average volume of 946,641. GigaCloud Technology Inc. has a 12-month low of $11.17 and a 12-month high of $34.50. The firm has a 50 day moving average price of $25.35 and a 200-day moving average price of $19.21. The stock has a market capitalization of $1.12 billion, a P/E ratio of 8.91 and a beta of 2.37.

GigaCloud Technology (NASDAQ:GCT - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $0.91 earnings per share for the quarter, topping analysts' consensus estimates of $0.46 by $0.45. GigaCloud Technology had a return on equity of 32.33% and a net margin of 11.17%.The firm had revenue of $322.61 million for the quarter, compared to the consensus estimate of $290.08 million. During the same quarter in the previous year, the business earned $1.03 EPS. The company's revenue was up 3.8% compared to the same quarter last year. GigaCloud Technology has set its Q3 2025 guidance at EPS. On average, equities analysts predict that GigaCloud Technology Inc. will post 3.1 EPS for the current year.

GigaCloud Technology declared that its board has authorized a stock repurchase program on Monday, August 18th that permits the company to repurchase $0.00 in outstanding shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company's board believes its stock is undervalued.

GigaCloud Technology Profile

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.