Pacer Advisors Inc. Has $6.82 Million Stake in GigaCloud Technology Inc. $GCT

Pacer Advisors Inc. reduced its position in GigaCloud Technology Inc. (NASDAQ:GCT) by 12.4% during the third quarter, Holdings Channel.com reports. The firm owned 239,966 shares of the company’s stock after selling 33,814 shares during the quarter. Pacer Advisors Inc.’s holdings in GigaCloud Technology were worth $6,815,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of GCT. Ameritas Advisory Services LLC acquired a new position in GigaCloud Technology during the second quarter worth $35,000. Tower Research Capital LLC TRC increased its position in shares of GigaCloud Technology by 25.6% during the second quarter. Tower Research Capital LLC TRC now owns 2,372 shares of the company’s stock worth $47,000 after acquiring an additional 483 shares in the last quarter. Ameritas Investment Partners Inc. raised its holdings in shares of GigaCloud Technology by 17.6% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,705 shares of the company’s stock worth $54,000 after acquiring an additional 405 shares during the last quarter. Russell Investments Group Ltd. lifted its position in GigaCloud Technology by 724.7% in the 1st quarter. Russell Investments Group Ltd. now owns 4,148 shares of the company’s stock valued at $59,000 after acquiring an additional 3,645 shares in the last quarter. Finally, Jones Financial Companies Lllp boosted its stake in GigaCloud Technology by 2,444.8% during the 1st quarter. Jones Financial Companies Lllp now owns 4,199 shares of the company’s stock valued at $60,000 after purchasing an additional 4,034 shares during the last quarter. Institutional investors own 34.94% of the company’s stock.

GigaCloud Technology Stock Down 0.8%

Shares of NASDAQ GCT opened at $40.19 on Monday. The company has a market capitalization of $1.49 billion, a PE ratio of 12.03 and a beta of 2.28. The stock’s 50 day moving average price is $34.34 and its 200-day moving average price is $28.41. GigaCloud Technology Inc. has a twelve month low of $11.17 and a twelve month high of $43.85.

GigaCloud Technology (NASDAQ:GCT) last issued its quarterly earnings results on Thursday, November 6th. The company reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.34. GigaCloud Technology had a return on equity of 30.43% and a net margin of 10.62%.The business had revenue of $332.64 million for the quarter, compared to analyst estimates of $300.96 million. During the same period last year, the company posted $1.15 earnings per share. GigaCloud Technology’s quarterly revenue was up 9.7% compared to the same quarter last year. As a group, research analysts expect that GigaCloud Technology Inc. will post 3.1 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently commented on GCT. Wall Street Zen raised GigaCloud Technology from a “hold” rating to a “buy” rating in a research note on Saturday, December 13th. Zacks Research raised GigaCloud Technology from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 10th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of GigaCloud Technology in a research note on Monday, December 22nd. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, GigaCloud Technology presently has an average rating of “Moderate Buy” and a consensus price target of $24.00.

Insider Activity at GigaCloud Technology

In related news, COO Xinyan Hao sold 800 shares of the business’s stock in a transaction dated Friday, December 5th. The shares were sold at an average price of $40.04, for a total value of $32,032.00. Following the transaction, the chief operating officer directly owned 357,486 shares of the company’s stock, valued at approximately $14,313,739.44. The trade was a 0.22% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders sold 346,258 shares of company stock worth $11,637,257. Insiders own 24.71% of the company’s stock.

GigaCloud Technology Company Profile

GigaCloud Technology Inc (NASDAQ:GCT) is a China-based provider of software-as-a-service (SaaS) and cloud computing solutions tailored for cross-border e-commerce. The company’s core offering, its Supply Chain Embedded E-commerce as a Service (SCEaaS) platform, integrates procurement, order management, warehousing, logistics and payment services into a unified cloud-based system. This end-to-end digital supply chain solution is designed to help small and medium-sized Chinese exporters efficiently connect with global buyers without the need to build and maintain their own infrastructure.

Through its modular, subscription-based SaaS model, GigaCloud enables merchants to scale operations on demand and minimize upfront capital expenditures.