PFG Advisors Invests $216,000 in GigaCloud Technology Inc. (NASDAQ:GCT)

PFG Advisors bought a new stake in shares of GigaCloud Technology Inc. (NASDAQ:GCTFree Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 11,676 shares of the company’s stock, valued at approximately $216,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of GCT. Principal Financial Group Inc. bought a new stake in GigaCloud Technology in the 3rd quarter worth approximately $1,442,000. Balboa Wealth Partners bought a new stake in GigaCloud Technology in the third quarter worth $213,000. Empowered Funds LLC raised its stake in GigaCloud Technology by 5.3% during the third quarter. Empowered Funds LLC now owns 185,490 shares of the company’s stock valued at $4,263,000 after purchasing an additional 9,380 shares in the last quarter. Banque Cantonale Vaudoise lifted its position in GigaCloud Technology by 345.6% during the third quarter. Banque Cantonale Vaudoise now owns 7,286 shares of the company’s stock valued at $167,000 after purchasing an additional 5,651 shares during the last quarter. Finally, Segall Bryant & Hamill LLC purchased a new position in shares of GigaCloud Technology in the 3rd quarter worth $1,556,000. 34.94% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on GCT shares. Roth Mkm cut shares of GigaCloud Technology from a “buy” rating to a “neutral” rating and decreased their target price for the company from $32.00 to $15.00 in a research report on Tuesday, March 4th. Roth Capital lowered GigaCloud Technology from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 4th. Finally, Lake Street Capital cut their target price on GigaCloud Technology from $50.00 to $26.00 and set a “buy” rating on the stock in a research report on Tuesday, March 4th. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.67.

Read Our Latest Research Report on GigaCloud Technology

Insider Transactions at GigaCloud Technology

In other news, insider Marshall Bernes acquired 5,000 shares of the company’s stock in a transaction that occurred on Friday, December 27th. The shares were bought at an average price of $17.50 per share, with a total value of $87,500.00. Following the completion of the purchase, the insider now directly owns 45,000 shares in the company, valued at $787,500. This trade represents a 12.50 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Xin Wan sold 68,437 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $20.43, for a total value of $1,398,167.91. Following the transaction, the chief technology officer now owns 1,563 shares in the company, valued at approximately $31,932.09. This represents a 97.77 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 43.00% of the company’s stock.

GigaCloud Technology Price Performance

GigaCloud Technology stock opened at $14.93 on Friday. The firm has a market capitalization of $598.19 million, a P/E ratio of 4.72 and a beta of 2.05. GigaCloud Technology Inc. has a 1-year low of $13.60 and a 1-year high of $41.31. The company’s 50-day moving average is $18.98 and its 200 day moving average is $20.89.

GigaCloud Technology (NASDAQ:GCTGet Free Report) last issued its quarterly earnings results on Monday, March 3rd. The company reported $0.76 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.14). GigaCloud Technology had a return on equity of 40.32% and a net margin of 11.75%. The business had revenue of $295.78 million during the quarter, compared to analysts’ expectations of $290.00 million. During the same quarter in the previous year, the company posted $0.87 earnings per share. Research analysts anticipate that GigaCloud Technology Inc. will post 3.1 earnings per share for the current fiscal year.

GigaCloud Technology Company Profile

(Free Report)

GigaCloud Technology Inc provides end-to-end B2B ecommerce solutions for large parcel merchandise in the United States and internationally. The company offers GigaCloud Marketplace integrates product discovery to payments to logistics tools into one easy-to-use platform. Its marketplace connects manufacturers primarily in Asia with resellers in the United States, Asia, and Europe to execute cross-border transactions across furniture, home appliance, fitness equipment, and other large parcel categories.

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Institutional Ownership by Quarter for GigaCloud Technology (NASDAQ:GCT)

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