LPL Financial LLC Raises Position in GigaCloud Technology Inc. $GCT

Key Points

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LPL Financial LLC grew its holdings in shares of GigaCloud Technology Inc. (NASDAQ:GCT - Free Report) by 32.2% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 164,605 shares of the company's stock after buying an additional 40,117 shares during the quarter. LPL Financial LLC owned 0.41% of GigaCloud Technology worth $2,337,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Pacer Advisors Inc. bought a new position in GigaCloud Technology in the first quarter worth approximately $4,806,000. Victory Capital Management Inc. grew its stake in GigaCloud Technology by 95.8% in the first quarter. Victory Capital Management Inc. now owns 137,855 shares of the company's stock worth $1,958,000 after purchasing an additional 67,455 shares in the last quarter. CWM LLC grew its stake in GigaCloud Technology by 319.8% in 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 in the last quarter. Stratos Wealth Partners LTD. bought a new position in GigaCloud Technology in the first quarter worth approximately $147,000. Finally, Principal Financial Group Inc. grew 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 worth $1,054,000 after purchasing an additional 1,028 shares in the last quarter. Institutional investors own 34.94% of the company's stock.

Insider Activity at GigaCloud Technology

In other news, insider Marshall Bernes sold 16,000 shares of the stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $31.29, for a total transaction of $500,640.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 24.71% of the company's stock.

GigaCloud Technology Price Performance

NASDAQ GCT traded up $1.08 during midday trading on Friday, hitting $31.03. 766,676 shares of the company traded hands, compared to its average volume of 1,156,336. The company has a market cap of $1.17 billion, a PE ratio of 9.32 and a beta of 2.36. The company's 50-day simple moving average is $23.11 and its 200-day simple moving average is $18.50. GigaCloud Technology Inc. has a 52 week low of $11.17 and a 52 week high of $34.50.

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

GigaCloud Technology announced that its Board of Directors has approved a stock repurchase plan on Monday, August 18th that allows the company to buyback $0.00 in shares. This buyback authorization allows the company to buy shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company's management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on GCT. Zacks Research raised GigaCloud Technology from a "strong sell" rating to a "hold" rating in a research note on Tuesday. Lake Street Capital increased 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. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $24.00.

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.