36,614 Shares in GigaCloud Technology Inc. $GCT Purchased by Inspire Investing LLC

Inspire Investing LLC acquired a new stake in GigaCloud Technology Inc. (NASDAQ:GCT) in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm acquired 36,614 shares of the company’s stock, valued at approximately $1,040,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Ameritas Advisory Services LLC bought a new position in shares of GigaCloud Technology in the second quarter valued at approximately $35,000. Tower Research Capital LLC TRC grew its stake 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 purchasing an additional 483 shares during the period. Ameritas Investment Partners Inc. grew its stake in 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 period. Russell Investments Group Ltd. increased its position in shares of GigaCloud Technology by 724.7% during the 1st quarter. Russell Investments Group Ltd. now owns 4,148 shares of the company’s stock valued at $59,000 after purchasing an additional 3,645 shares during the last quarter. Finally, Jones Financial Companies Lllp raised its stake in shares of GigaCloud Technology by 2,444.8% during the 1st quarter. Jones Financial Companies Lllp now owns 4,199 shares of the company’s stock worth $60,000 after purchasing an additional 4,034 shares during the period. Hedge funds and other institutional investors own 34.94% of the company’s stock.

Analyst Ratings Changes

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

Insider Transactions at GigaCloud Technology

In other GigaCloud Technology news, COO Xinyan Hao sold 800 shares of the firm’s stock in a transaction dated Friday, December 5th. The stock was sold at an average price of $40.04, for a total value of $32,032.00. Following the completion of the transaction, the chief operating officer owned 357,486 shares in the company, valued at $14,313,739.44. This trade represents a 0.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders sold 360,000 shares of company stock worth $12,049,792. Corporate insiders own 24.71% of the company’s stock.

GigaCloud Technology Stock Down 0.8%

Shares of NASDAQ:GCT opened at $40.19 on Friday. The firm has a market capitalization of $1.49 billion, a PE ratio of 12.03 and a beta of 2.28. The company has a 50-day moving average price of $34.34 and a two-hundred day moving average price of $28.27. GigaCloud Technology Inc. has a twelve month low of $11.17 and a twelve month high of $43.85.

GigaCloud Technology (NASDAQ:GCT) last released its quarterly earnings data on Thursday, November 6th. The company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.65 by $0.34. The company had revenue of $332.64 million during the quarter, compared to the consensus estimate of $300.96 million. GigaCloud Technology had a net margin of 10.62% and a return on equity of 30.43%. GigaCloud Technology’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same period last year, the firm earned $1.15 EPS. Analysts anticipate that GigaCloud Technology Inc. will post 3.1 earnings per share for the current fiscal year.

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.