Quantbot Technologies LP Buys 41,960 Shares of GigaCloud Technology Inc. $GCT

Quantbot Technologies LP boosted its stake in shares of GigaCloud Technology Inc. (NASDAQ:GCT) by 158.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 68,442 shares of the company’s stock after acquiring an additional 41,960 shares during the quarter. Quantbot Technologies LP owned 0.18% of GigaCloud Technology worth $1,944,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in GCT. Nordea Investment Management AB acquired a new stake in shares of GigaCloud Technology during the 3rd quarter worth about $3,852,000. Hussman Strategic Advisors Inc. acquired a new stake in shares of GigaCloud Technology during the third quarter worth approximately $3,578,000. Teacher Retirement System of Texas acquired a new stake in shares of GigaCloud Technology during the third quarter worth approximately $952,000. Inspire Investing LLC bought a new position in shares of GigaCloud Technology in the third quarter valued at approximately $1,040,000. Finally, Ethos Financial Group LLC grew its position in GigaCloud Technology by 53.5% during the 2nd quarter. Ethos Financial Group LLC now owns 62,515 shares of the company’s stock worth $1,237,000 after acquiring an additional 21,798 shares during the last quarter. Institutional investors and hedge funds own 34.94% of the company’s stock.

GigaCloud Technology Stock Performance

NASDAQ GCT opened at $44.40 on Thursday. The stock has a market capitalization of $1.65 billion, a P/E ratio of 12.27 and a beta of 2.24. GigaCloud Technology Inc. has a 52 week low of $11.17 and a 52 week high of $48.00. The stock has a fifty day moving average of $39.62 and a 200-day moving average of $34.25.

GigaCloud Technology (NASDAQ:GCT) last posted its quarterly earnings results on Thursday, February 26th. The company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.39. The business had revenue of $362.75 million for the quarter, compared to analysts’ expectations of $332.33 million. GigaCloud Technology had a return on equity of 30.74% and a net margin of 10.65%.The firm’s quarterly revenue was up 22.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.76 earnings per share. Equities research analysts forecast that GigaCloud Technology Inc. will post 3.1 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have issued reports on GCT shares. Wall Street Zen upgraded GigaCloud Technology from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 28th. Weiss Ratings raised GigaCloud Technology from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, January 27th. Finally, Zacks Research downgraded shares of GigaCloud Technology from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 16th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $33.00.

Insider Activity at GigaCloud Technology

In related news, CEO Lei Wu sold 30,000 shares of the stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $42.83, for a total value of $1,284,900.00. Following the transaction, the chief executive officer directly owned 518,090 shares in the company, valued at $22,189,794.70. This represents a 5.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In the last ninety days, insiders have sold 282,710 shares of company stock worth $12,195,004. 24.71% of the stock is owned by insiders.

About GigaCloud Technology

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.