LPL Financial LLC increased its stake in GigaCloud Technology Inc. (NASDAQ:GCT - Free Report) by 32.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 164,605 shares of the company's stock after purchasing an additional 40,117 shares during the period. LPL Financial LLC owned 0.41% of GigaCloud Technology worth $2,337,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also modified their holdings of GCT. CWM LLC lifted its stake in GigaCloud Technology by 319.8% during the 1st quarter. CWM LLC now owns 2,821 shares of the company's stock valued at $40,000 after acquiring an additional 2,149 shares during the period. Heck Capital Advisors LLC purchased a new stake in GigaCloud Technology in the 4th quarter worth approximately $79,000. Stratos Wealth Partners LTD. acquired a new position in shares of GigaCloud Technology in the 1st quarter valued at $147,000. CreativeOne Wealth LLC purchased a new stake in GigaCloud Technology during the fourth quarter worth $185,000. Finally, Squarepoint Ops LLC acquired a new stake in GigaCloud Technology during the fourth quarter valued at $189,000. 34.94% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of research analysts have weighed in on GCT shares. Lake Street Capital upped their price objective on shares of GigaCloud Technology from $26.00 to $33.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. Zacks Research raised GigaCloud Technology from a "strong sell" rating to a "hold" rating in a report on Tuesday. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, GigaCloud Technology has a consensus rating of "Hold" and an average price target of $24.00.
Get Our Latest Research Report on GigaCloud Technology
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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 24.71% of the company's stock.
GigaCloud Technology Price Performance
GigaCloud Technology stock traded down $1.65 during midday trading on Thursday, reaching $29.95. The company had a trading volume of 1,265,236 shares, compared to its average volume of 932,068. GigaCloud Technology Inc. has a 12-month low of $11.17 and a 12-month high of $34.50. The company has a market capitalization of $1.13 billion, a P/E ratio of 8.99 and a beta of 2.36. The firm's fifty day simple moving average is $22.62 and its 200-day simple moving average is $18.37.
GigaCloud Technology (NASDAQ:GCT - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.46 by $0.45. The company had revenue of $322.61 million during the quarter, compared to analyst estimates of $290.08 million. GigaCloud Technology had a return on equity of 32.33% and a net margin of 11.17%.GigaCloud Technology's quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.03 EPS. GigaCloud Technology has set its Q3 2025 guidance at EPS. On average, analysts expect that GigaCloud Technology Inc. will post 3.1 EPS for the current fiscal year.
GigaCloud Technology declared that its board has authorized a stock buyback program on Monday, August 18th that allows the company to repurchase $0.00 in outstanding shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company's management believes its stock is undervalued.
About GigaCloud Technology
(
Free Report)
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.
Recommended Stories
Before you consider GigaCloud Technology, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and GigaCloud Technology wasn't on the list.
While GigaCloud Technology currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering what the next stocks will be that hit it big, with solid fundamentals? Enter your email address to see which stocks MarketBeat analysts could become the next blockbuster growth stocks.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
MarketBeat All Access