LSV Asset Management grew its stake in shares of GigaCloud Technology Inc. (NASDAQ:GCT – Free Report) by 824.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 736,600 shares of the company’s stock after purchasing an additional 656,900 shares during the period. LSV Asset Management’s holdings in GigaCloud Technology were worth $28,934,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Jones Financial Companies Lllp boosted its stake in shares of GigaCloud Technology by 184.6% during the 3rd quarter. Jones Financial Companies Lllp now owns 908 shares of the company’s stock valued at $27,000 after purchasing an additional 589 shares in the last quarter. Quarry LP bought a new stake in shares of GigaCloud Technology during the 3rd quarter valued at about $29,000. Larson Financial Group LLC bought a new stake in shares of GigaCloud Technology during the 3rd quarter valued at about $30,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of GigaCloud Technology during the 3rd quarter valued at about $30,000. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in shares of GigaCloud Technology during the 4th quarter valued at about $44,000. Institutional investors own 34.94% of the company’s stock.
GigaCloud Technology Price Performance
NASDAQ:GCT opened at $38.19 on Monday. GigaCloud Technology Inc. has a one year low of $17.11 and a one year high of $51.86. The company’s 50-day simple moving average is $43.02 and its 200 day simple moving average is $39.98. The firm has a market capitalization of $1.41 billion, a P/E ratio of 9.60 and a beta of 1.83.
Analysts Set New Price Targets
GCT has been the topic of a number of research reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of GigaCloud Technology in a research note on Friday, April 24th. Wall Street Zen lowered shares of GigaCloud Technology from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 16th. Finally, Zacks Research lowered shares of GigaCloud Technology from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 5th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $33.00.
View Our Latest Stock Analysis on GigaCloud Technology
Insider Activity
In other GigaCloud Technology news, CTO Xin Wan sold 100,000 shares of GigaCloud Technology stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $43.38, for a total value of $4,338,000.00. Following the completion of the transaction, the chief technology officer directly owned 717,540 shares of the company’s stock, valued at approximately $31,126,885.20. The trade was a 12.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Lei Wu sold 70,000 shares of GigaCloud Technology stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $45.28, for a total transaction of $3,169,600.00. Following the completion of the transaction, the chief executive officer directly owned 608,090 shares of the company’s stock, valued at $27,534,315.20. This trade represents a 10.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 598,090 shares of company stock valued at $25,666,400 over the last ninety days. Corporate insiders own 24.71% of the company’s stock.
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.
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