Pacer Advisors Inc. Sells 33,814 Shares of GigaCloud Technology Inc. $GCT

Pacer Advisors Inc. lessened its holdings in shares of GigaCloud Technology Inc. (NASDAQ:GCT) by 12.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 239,966 shares of the company’s stock after selling 33,814 shares during the period. Pacer Advisors Inc. owned 0.64% of GigaCloud Technology worth $6,815,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. JPMorgan Chase & Co. lifted its holdings in GigaCloud Technology by 67.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 339,885 shares of the company’s stock worth $6,723,000 after buying an additional 137,201 shares during the period. AQR Capital Management LLC raised its position in shares of GigaCloud Technology by 355.1% during the first quarter. AQR Capital Management LLC now owns 99,669 shares of the company’s stock worth $1,415,000 after acquiring an additional 77,769 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of GigaCloud Technology during the first quarter worth about $981,000. Globeflex Capital L P acquired a new position in shares of GigaCloud Technology in the second quarter worth approximately $1,087,000. Finally, Geode Capital Management LLC boosted its holdings in GigaCloud Technology by 9.1% in the second quarter. Geode Capital Management LLC now owns 630,805 shares of the company’s stock valued at $12,479,000 after acquiring an additional 52,415 shares during the last quarter. 34.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on GCT. Weiss Ratings restated a “hold (c+)” rating on shares of GigaCloud Technology in a report on Monday, December 22nd. Zacks Research raised 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 upgraded shares of GigaCloud Technology from a “hold” rating to a “buy” rating in a report on Saturday, December 13th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, GigaCloud Technology currently has an average rating of “Moderate Buy” and an average price target of $24.00.

Insider Activity at GigaCloud Technology

In related news, COO Xinyan Hao sold 800 shares of the business’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 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 position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In the last three months, insiders sold 346,258 shares of company stock valued at $11,637,257. Company insiders own 24.71% of the company’s stock.

GigaCloud Technology Stock Down 0.8%

NASDAQ:GCT opened at $40.19 on Monday. GigaCloud Technology Inc. has a twelve month low of $11.17 and a twelve month high of $43.85. The company has a fifty day moving average of $34.34 and a 200-day moving average of $28.41. The firm has a market capitalization of $1.49 billion, a P/E ratio of 12.03 and a beta of 2.28.

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

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.