Alps Advisors Inc. Acquires New Shares in GigaCloud Technology Inc. $GCT

Alps Advisors Inc. acquired a new position in GigaCloud Technology Inc. (NASDAQ:GCT) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 15,280 shares of the company’s stock, valued at approximately $434,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GCT. Ameritas Investment Partners Inc. lifted its stake 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 valued at $54,000 after purchasing an additional 405 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in GigaCloud Technology by 25.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,372 shares of the company’s stock valued at $47,000 after buying an additional 483 shares during the period. Stratos Wealth Partners LTD. raised its holdings in GigaCloud Technology by 5.6% in the 2nd quarter. Stratos Wealth Partners LTD. now owns 10,945 shares of the company’s stock valued at $217,000 after buying an additional 585 shares during the period. Jones Financial Companies Lllp lifted its position in GigaCloud Technology by 184.6% in the third quarter. Jones Financial Companies Lllp now owns 908 shares of the company’s stock valued at $27,000 after buying an additional 589 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey boosted its stake in GigaCloud Technology by 31.5% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 6,209 shares of the company’s stock worth $123,000 after buying an additional 1,489 shares during the period. 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 a number of research analyst reports. Zacks Research downgraded shares of GigaCloud Technology from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 16th. Wall Street Zen upgraded shares of GigaCloud Technology from a “hold” rating to a “buy” rating in a report on Saturday, December 13th. Finally, Weiss Ratings raised GigaCloud Technology from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, January 27th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $24.00.

GigaCloud Technology Price Performance

GCT opened at $35.23 on Friday. The business has a fifty day moving average price of $39.94 and a 200 day moving average price of $33.13. GigaCloud Technology Inc. has a 12 month low of $11.17 and a 12 month high of $44.71. The stock has a market capitalization of $1.31 billion, a price-to-earnings ratio of 10.55 and a beta of 2.28.

Insider Activity at GigaCloud Technology

In related news, COO Xinyan Hao sold 800 shares of the business’s stock in a transaction on Friday, December 5th. The shares were sold at an average price of $40.04, for a total value of $32,032.00. Following the completion of the sale, the chief operating officer directly owned 357,486 shares of the company’s stock, valued at $14,313,739.44. The trade was a 0.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Lei Wu sold 20,000 shares of GigaCloud Technology stock in a transaction that occurred on Thursday, January 22nd. The stock was sold at an average price of $40.78, for a total value of $815,600.00. Following the transaction, the chief executive officer directly owned 678,090 shares in the company, valued at approximately $27,652,510.20. This trade represents a 2.86% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 331,229 shares of company stock worth $12,449,189. 24.71% of the stock is owned by corporate insiders.

GigaCloud Technology 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.