Quantbot Technologies LP bought a new position in GigaCloud Technology Inc. (NASDAQ:GCT - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 46,462 shares of the company's stock, valued at approximately $660,000. Quantbot Technologies LP owned 0.12% of GigaCloud Technology at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in GCT. Legal & General Group Plc increased its position in GigaCloud Technology by 12.8% during the 4th quarter. Legal & General Group Plc now owns 21,685 shares of the company's stock valued at $402,000 after purchasing an additional 2,456 shares during the period. Raymond James Financial Inc. bought a new position in GigaCloud Technology in the fourth quarter worth approximately $349,000. Mariner LLC lifted its holdings in 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 buying an additional 1,056 shares during the period. Marshall Wace LLP purchased a new stake in GigaCloud Technology during the fourth quarter worth $1,914,000. Finally, MetLife Investment Management LLC boosted its position in GigaCloud Technology by 15.2% during the 4th quarter. MetLife Investment Management LLC now owns 15,875 shares of the company's stock valued at $294,000 after acquiring an additional 2,091 shares in the last quarter. Hedge funds and other institutional investors own 34.94% of the company's stock.
Wall Street Analyst Weigh In
GCT has been the topic of several recent research reports. Zacks Research raised GigaCloud Technology from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 19th. Wall Street Zen raised GigaCloud Technology from a "hold" rating to a "buy" rating in a research report on Saturday. Finally, Lake Street Capital increased their target price on GigaCloud Technology from $26.00 to $33.00 and gave the company a "buy" rating in a research report on Friday, August 8th. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $24.00.
Get Our Latest Report on GCT
Insiders Place Their Bets
In other GigaCloud Technology news, insider Marshall Bernes sold 16,000 shares of the business'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 transaction of $500,640.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 24.71% of the company's stock.
GigaCloud Technology Stock Up 1.3%
Shares of GigaCloud Technology stock traded up $0.35 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 company has a 50 day moving average price of $23.98 and a 200 day moving average price of $18.73. GigaCloud Technology Inc. has a 1 year low of $11.17 and a 1 year high of $34.50. The stock has a market capitalization of $997.12 million, a P/E ratio of 7.95 and a beta of 2.36.
GigaCloud Technology (NASDAQ:GCT - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.46 by $0.45. The firm had revenue of $322.61 million for the quarter, compared to the consensus estimate of $290.08 million. GigaCloud Technology had a net margin of 11.17% and a return on equity of 32.33%. The company's quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.03 EPS. GigaCloud Technology has set its Q3 2025 guidance at EPS. On average, analysts forecast that GigaCloud Technology Inc. will post 3.1 earnings per share for the current fiscal year.
GigaCloud Technology announced that its board has authorized a stock repurchase program on Monday, August 18th that authorizes the company to buyback $0.00 in outstanding shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Shares buyback programs are often an indication that the company's management believes its shares are undervalued.
GigaCloud Technology Company Profile
(
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.
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