Nuveen LLC Takes $6.50 Million Position in 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 bought a new stake in shares of GigaCloud Technology Inc. (NASDAQ:GCT - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 457,872 shares of the company's stock, valued at approximately $6,502,000. Nuveen LLC owned 1.14% of GigaCloud Technology as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Invesco Ltd. grew its position in shares of GigaCloud Technology by 42.4% during the 1st quarter. Invesco Ltd. now owns 30,251 shares of the company's stock valued at $430,000 after acquiring an additional 9,003 shares during the period. Swiss National Bank grew its position in shares of GigaCloud Technology by 18.3% during the 1st quarter. Swiss National Bank now owns 54,200 shares of the company's stock valued at $770,000 after acquiring an additional 8,400 shares during the period. Pacific Ridge Capital Partners LLC grew its position in shares of GigaCloud Technology by 13.6% during the 1st quarter. Pacific Ridge Capital Partners LLC now owns 41,053 shares of the company's stock valued at $583,000 after acquiring an additional 4,912 shares during the period. Banque Cantonale Vaudoise acquired a new stake in shares of GigaCloud Technology during the 1st quarter valued at about $103,000. Finally, LPL Financial LLC grew its position in shares of GigaCloud Technology by 32.2% during the 1st quarter. LPL Financial LLC now owns 164,605 shares of the company's stock valued at $2,337,000 after acquiring an additional 40,117 shares during the period. 34.94% of the stock is currently owned by institutional investors and hedge funds.

GigaCloud Technology Trading Up 3.6%

Shares of GigaCloud Technology stock opened at $31.03 on Monday. The firm's 50-day moving average price is $23.11 and its 200 day moving average price is $18.49. GigaCloud Technology Inc. has a twelve month low of $11.17 and a twelve month high of $34.50. The firm has a market capitalization of $1.17 billion, a PE ratio of 9.32 and a beta of 2.36.

GigaCloud Technology (NASDAQ:GCT - Get Free Report) last released 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 net margin of 11.17% and a return on equity of 32.33%. The business had revenue of $322.61 million for the quarter, compared to analyst estimates of $290.08 million. During the same period last year, the company posted $1.03 EPS. The business's 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 predict that GigaCloud Technology Inc. will post 3.1 EPS for the current fiscal year.

GigaCloud Technology declared that its board has authorized a share buyback program on Monday, August 18th that allows the company to repurchase $0.00 in outstanding shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other GigaCloud Technology news, insider Marshall Bernes sold 16,000 shares of the firm's 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 24.71% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Lake Street Capital raised 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 raised shares of GigaCloud Technology from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 19th. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, GigaCloud Technology presently has a consensus rating of "Hold" and an average 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.

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