Nordea Investment Management AB Invests $3.85 Million in GigaCloud Technology Inc. $GCT

Nordea Investment Management AB acquired a new stake in GigaCloud Technology Inc. (NASDAQ:GCT) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 133,300 shares of the company’s stock, valued at approximately $3,852,000. Nordea Investment Management AB owned 0.35% of GigaCloud Technology at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ameritas Advisory Services LLC bought a new stake in shares of GigaCloud Technology during the 2nd quarter valued at $35,000. Tower Research Capital LLC TRC grew its stake 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 worth $47,000 after purchasing an additional 483 shares during the period. Ameritas Investment Partners Inc. grew its stake in shares of GigaCloud Technology by 17.6% during 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 during the period. Global Retirement Partners LLC increased its holdings in GigaCloud Technology by 534.3% in the third 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 last quarter. Finally, Jones Financial Companies Lllp lifted its stake in GigaCloud Technology by 2,444.8% in the first quarter. Jones Financial Companies Lllp now owns 4,199 shares of the company’s stock valued at $60,000 after buying an additional 4,034 shares during the period. 34.94% of the stock is owned by institutional investors.

GigaCloud Technology Price Performance

GCT opened at $40.41 on Monday. The company has a market capitalization of $1.50 billion, a price-to-earnings ratio of 12.10 and a beta of 2.28. The business’s 50-day moving average price is $38.16 and its two-hundred day moving average price is $30.72. GigaCloud Technology Inc. has a 1 year low of $11.17 and a 1 year high of $44.71.

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

Analyst Ratings Changes

A number of analysts have recently commented on the company. Wall Street Zen raised GigaCloud Technology from a “hold” rating to a “buy” rating in a research note on Saturday, December 13th. Weiss Ratings downgraded shares of GigaCloud Technology from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, January 12th. Finally, Zacks Research upgraded shares of GigaCloud Technology from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 10th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $24.00.

Insider Activity at GigaCloud Technology

In other news, CEO Lei Wu sold 20,000 shares of the stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $42.36, for a total value of $847,200.00. Following the completion of the sale, the chief executive officer owned 840,000 shares of the company’s stock, valued at approximately $35,582,400. This represents a 2.33% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Xinyan Hao sold 100,000 shares of the firm’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $35.18, for a total transaction of $3,518,000.00. Following the completion of the transaction, the chief operating officer directly owned 407,486 shares of the company’s stock, valued at $14,335,357.48. This represents a 19.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 446,258 shares of company stock valued at $15,839,457 over the last three months. Insiders own 24.71% of the company’s stock.

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.