Nuveen LLC Buys Shares of 457,872 GigaCloud Technology Inc. $GCT

Key Points

• Nuveen LLC has acquired a stake worth approximately $6.50 million in GigaCloud Technology, purchasing 457,872 shares which represent 1.14% of the company.
• GigaCloud Technology's share price opened at $31.03 with a twelve-month range of $11.17 to $34.50, and it recently reported better-than-expected earnings of $0.91 per share for the last quarter.
• The company has implemented a share buyback program, indicating that its board believes the stock is undervalued, while analysts have mixed recommendations with one “buy” rating and three “holds.”

Nuveen LLC acquired a new position in shares of GigaCloud Technology Inc. (NASDAQ:GCT - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 457,872 shares of the company's stock, valued at approximately $6,502,000. Nuveen LLC owned about 1.14% of GigaCloud Technology as of its most recent SEC filing.

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

Insider Transactions at GigaCloud Technology

In related news, insider Marshall Bernes sold 16,000 shares of GigaCloud Technology stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $31.29, for a total value of $500,640.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 24.71% of the stock is owned by company insiders.

GigaCloud Technology Price Performance

NASDAQ:GCT traded up $0.35 during mid-day trading on Friday, reaching $26.47. The stock had a trading volume of 823,423 shares, compared to its average volume of 1,302,126. The stock has a 50-day simple moving average of $23.98 and a two-hundred day simple moving average of $18.73. The stock has a market capitalization of $997.12 million, a PE ratio of 7.95 and a beta of 2.36. GigaCloud Technology Inc. has a 12 month low of $11.17 and a 12 month high of $34.50.

GigaCloud Technology (NASDAQ:GCT - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 net margin of 11.17% and a return on equity of 32.33%. The firm's quarterly revenue was up 3.8% compared to the same quarter last year. During the same period last year, the firm posted $1.03 earnings per share. GigaCloud Technology has set its Q3 2025 guidance at EPS. Equities analysts expect that GigaCloud Technology Inc. will post 3.1 EPS for the current year.

GigaCloud Technology announced that its Board of Directors has authorized a share repurchase plan on Monday, August 18th that authorizes the company to repurchase $0.00 in outstanding shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Lake Street Capital raised their target price on shares of GigaCloud Technology from $26.00 to $33.00 and gave the stock a "buy" rating in a report on Friday, August 8th. Wall Street Zen raised shares of GigaCloud Technology from a "hold" rating to a "buy" rating in a report on Saturday. Finally, Zacks Research raised shares of GigaCloud Technology from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 19th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average 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.