Raymond James & Associates purchased a new position in GigaCloud Technology Inc. (NASDAQ:GCT - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 28,265 shares of the company's stock, valued at approximately $517,000. Raymond James & Associates owned 0.07% of GigaCloud Technology at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in the business. PAX Financial Group LLC purchased a new position in GigaCloud Technology during the third quarter valued at $141,000. State of New Jersey Common Pension Fund D purchased a new position in GigaCloud Technology during the third quarter valued at $172,000. WINTON GROUP Ltd purchased a new position in GigaCloud Technology during the third quarter valued at $258,000. Pacific Ridge Capital Partners LLC purchased a new position in GigaCloud Technology during the third quarter valued at $586,000. Finally, New York State Common Retirement Fund purchased a new position in GigaCloud Technology during the third quarter valued at $1,895,000. 34.94% of the stock is currently owned by institutional investors.
Insiders Place Their Bets
In related news, CEO Lei Wu sold 1,000 shares of GigaCloud Technology stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $29.53, for a total transaction of $29,530.00. Following the completion of the transaction, the chief executive officer now directly owns 1,248,994 shares of the company's stock, valued at approximately $36,882,792.82. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Lei Wu sold 1,000 shares of GigaCloud Technology stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $29.53, for a total transaction of $29,530.00. Following the completion of the transaction, the chief executive officer now directly owns 1,248,994 shares of the company's stock, valued at approximately $36,882,792.82. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Xin Wan sold 150,000 shares of GigaCloud Technology stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $27.26, for a total transaction of $4,089,000.00. Following the transaction, the chief technology officer now directly owns 947,540 shares of the company's stock, valued at $25,829,940.40. The disclosure for this sale can be found here. Insiders sold 652,464 shares of company stock valued at $20,030,775 in the last three months. Corporate insiders own 45.30% of the company's stock.
Analyst Upgrades and Downgrades
Separately, Roth Mkm raised their target price on shares of GigaCloud Technology from $28.00 to $35.00 and gave the company a "buy" rating in a research note on Tuesday, April 2nd.
Check Out Our Latest Stock Report on GigaCloud Technology
GigaCloud Technology Trading Down 2.8 %
GCT traded down $1.01 during trading on Friday, hitting $35.35. 1,787,942 shares of the company traded hands, compared to its average volume of 2,849,104. GigaCloud Technology Inc. has a 1 year low of $4.93 and a 1 year high of $45.18. The company has a market cap of $1.44 billion, a PE ratio of 15.37 and a beta of 2.26. The stock's 50-day simple moving average is $33.39 and its two-hundred day simple moving average is $22.19.
GigaCloud Technology (NASDAQ:GCT - Get Free Report) last issued its quarterly earnings data on Friday, March 15th. The company reported $0.87 EPS for the quarter, topping analysts' consensus estimates of $0.58 by $0.29. GigaCloud Technology had a net margin of 13.37% and a return on equity of 36.40%. The business had revenue of $244.74 million during the quarter, compared to analysts' expectations of $220.30 million. Equities analysts expect that GigaCloud Technology Inc. will post 2.98 EPS for the current year.
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.
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