Denali Advisors LLC Acquires Shares of 16,700 GigaCloud Technology Inc. $GCT

Denali Advisors LLC bought a new position in shares of GigaCloud Technology Inc. (NASDAQ:GCT) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 16,700 shares of the company’s stock, valued at approximately $474,000.

Other large investors have also recently modified their holdings of the company. Geode Capital Management LLC raised its holdings in shares of GigaCloud Technology by 9.1% during the 2nd quarter. Geode Capital Management LLC now owns 630,805 shares of the company’s stock worth $12,479,000 after buying an additional 52,415 shares in the last quarter. Franklin Resources Inc. grew its position in GigaCloud Technology by 1.0% in the second quarter. Franklin Resources Inc. now owns 407,960 shares of the company’s stock valued at $8,069,000 after acquiring an additional 4,163 shares during the last quarter. Bridgeway Capital Management LLC raised its stake in GigaCloud Technology by 0.8% during the second quarter. Bridgeway Capital Management LLC now owns 380,656 shares of the company’s stock worth $7,529,000 after acquiring an additional 3,023 shares in the last quarter. JPMorgan Chase & Co. raised its stake in GigaCloud Technology by 67.7% during the second quarter. JPMorgan Chase & Co. now owns 339,885 shares of the company’s stock worth $6,723,000 after acquiring an additional 137,201 shares in the last quarter. Finally, Empowered Funds LLC lifted its holdings in shares of GigaCloud Technology by 1.5% in the second quarter. Empowered Funds LLC now owns 201,956 shares of the company’s stock worth $3,995,000 after acquiring an additional 3,023 shares during the last quarter. Institutional investors and hedge funds own 34.94% of the company’s stock.

Insider Activity

In other GigaCloud Technology news, COO Xinyan Hao sold 100,000 shares of the company’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $35.18, for a total value of $3,518,000.00. Following the sale, the chief operating officer owned 407,486 shares in the company, valued at approximately $14,335,357.48. The trade was a 19.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Lei Wu sold 20,000 shares of the firm’s stock in a transaction dated Friday, January 16th. The stock was sold at an average price of $41.34, for a total value of $826,800.00. Following the transaction, the chief executive officer owned 700,000 shares of the company’s stock, valued at $28,938,000. This trade represents a 2.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 301,229 shares of company stock worth $11,539,589 over the last ninety days. Company insiders own 24.71% of the company’s stock.

GigaCloud Technology Stock Performance

Shares of NASDAQ GCT opened at $35.23 on Tuesday. The firm has a 50 day moving average price of $39.86 and a two-hundred day moving average price of $33.30. The stock has a market cap of $1.31 billion, a P/E ratio of 10.55 and a beta of 2.28. GigaCloud Technology Inc. has a 52-week low of $11.17 and a 52-week high of $44.71.

Analyst Upgrades and Downgrades

GCT has been the topic of several research reports. Wall Street Zen raised shares of GigaCloud Technology from a “hold” rating to a “buy” rating in a report on Saturday, December 13th. Zacks Research cut shares of GigaCloud Technology from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 16th. Finally, Weiss Ratings upgraded GigaCloud Technology from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, January 27th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.