VIRGINIA RETIREMENT SYSTEMS ET Al Takes Position in GigaCloud Technology Inc. $GCT

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in GigaCloud Technology Inc. (NASDAQ:GCT) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 24,700 shares of the company’s stock, valued at approximately $701,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned about 0.07% of GigaCloud Technology at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Ameritas Investment Partners Inc. raised its holdings in 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 buying an additional 405 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of GigaCloud Technology by 25.6% during the second quarter. Tower Research Capital LLC TRC now owns 2,372 shares of the company’s stock valued at $47,000 after buying an additional 483 shares during the last quarter. Stratos Wealth Partners LTD. increased its position in shares of GigaCloud Technology by 5.6% during the second quarter. Stratos Wealth Partners LTD. now owns 10,945 shares of the company’s stock valued at $217,000 after acquiring an additional 585 shares in the last quarter. Police & Firemen s Retirement System of New Jersey raised its holdings in GigaCloud Technology by 31.5% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 6,209 shares of the company’s stock worth $123,000 after acquiring an additional 1,489 shares during the last quarter. Finally, Ameritas Advisory Services LLC purchased a new position in GigaCloud Technology in the 2nd quarter worth approximately $35,000. 34.94% of the stock is currently owned by institutional investors.

GigaCloud Technology Price Performance

GCT stock opened at $38.76 on Monday. GigaCloud Technology Inc. has a 1 year low of $11.17 and a 1 year high of $43.85. The company has a market cap of $1.44 billion, a P/E ratio of 11.60 and a beta of 2.28. The stock’s fifty day moving average price is $35.52 and its 200-day moving average price is $29.15.

GigaCloud Technology (NASDAQ:GCT) last posted its earnings results on Thursday, November 6th. The company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.34. The company had revenue of $332.64 million for the quarter, compared to the consensus estimate of $300.96 million. GigaCloud Technology had a return on equity of 30.43% and a net margin of 10.62%.GigaCloud Technology’s revenue was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.15 earnings per share. As a group, analysts expect that GigaCloud Technology Inc. will post 3.1 earnings per share for the current year.

Insider Activity at GigaCloud Technology

In other news, COO Xinyan Hao sold 800 shares of the stock in a transaction that occurred 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 transaction, the chief operating officer owned 357,486 shares in the company, valued at $14,313,739.44. This represents a 0.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last ninety days, insiders have sold 346,258 shares of company stock worth $11,637,257. 24.71% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Zacks Research upgraded GigaCloud Technology from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 10th. Wall Street Zen raised GigaCloud Technology from a “hold” rating to a “buy” rating in a report on Saturday, December 13th. Finally, Weiss Ratings upgraded GigaCloud Technology from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $24.00.

GigaCloud Technology Company 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.