ProShare Advisors LLC Has $3.62 Million Stock Holdings in GigaCloud Technology Inc. $GCT

ProShare Advisors LLC decreased its holdings in shares of GigaCloud Technology Inc. (NASDAQ:GCT) by 32.1% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 127,281 shares of the company’s stock after selling 60,072 shares during the quarter. ProShare Advisors LLC’s holdings in GigaCloud Technology were worth $3,615,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Jones Financial Companies Lllp lifted its stake in GigaCloud Technology by 184.6% in the 3rd quarter. Jones Financial Companies Lllp now owns 908 shares of the company’s stock worth $27,000 after acquiring an additional 589 shares in the last quarter. Global Retirement Partners LLC increased its holdings in shares of GigaCloud Technology by 534.3% in the 3rd quarter. Global Retirement Partners LLC now owns 1,903 shares of the company’s stock valued at $54,000 after purchasing an additional 1,603 shares during the period. Tower Research Capital LLC TRC lifted its position in shares of GigaCloud Technology by 25.6% in the second quarter. Tower Research Capital LLC TRC now owns 2,372 shares of the company’s stock worth $47,000 after purchasing an additional 483 shares in the last quarter. Ameritas Investment Partners Inc. lifted its position in shares of GigaCloud Technology by 17.6% in the second quarter. Ameritas Investment Partners Inc. now owns 2,705 shares of the company’s stock worth $54,000 after purchasing an additional 405 shares in the last quarter. Finally, Strs Ohio acquired a new stake in shares of GigaCloud Technology during the third quarter worth approximately $128,000. 34.94% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at GigaCloud Technology

In related news, COO Xinyan Hao sold 800 shares of the company’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 in the company, valued at approximately $14,313,739.44. This represents a 0.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Lei Wu sold 20,000 shares of the stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $40.78, for a total transaction of $815,600.00. Following the transaction, the chief executive officer directly owned 678,090 shares in the company, valued at $27,652,510.20. The trade was a 2.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 331,229 shares of company stock valued at $12,449,189. 24.71% of the stock is owned by company insiders.

GigaCloud Technology Stock Up 3.3%

GCT stock opened at $35.23 on Friday. The firm has a 50 day moving average of $39.94 and a two-hundred day moving average of $33.06. GigaCloud Technology Inc. has a 12 month low of $11.17 and a 12 month high of $44.71. The company has a market capitalization of $1.31 billion, a price-to-earnings ratio of 10.55 and a beta of 2.28.

Analyst Ratings Changes

GCT has been the topic of several research reports. Weiss Ratings upgraded shares of GigaCloud Technology from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, January 27th. Zacks Research cut shares of GigaCloud Technology from a “strong-buy” rating to a “hold” rating in a report on Friday, January 16th. Finally, Wall Street Zen raised shares of GigaCloud Technology from a “hold” rating to a “buy” rating in a research note on Saturday, December 13th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $24.00.

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.