GigaCloud Technology Inc. $GCT Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC decreased its stake in shares of GigaCloud Technology Inc. (NASDAQ:GCT) by 32.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 127,281 shares of the company’s stock after selling 60,072 shares during the period. ProShare Advisors LLC owned approximately 0.34% of GigaCloud Technology worth $3,615,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Jones Financial Companies Lllp boosted its holdings in shares of GigaCloud Technology by 184.6% in the third quarter. Jones Financial Companies Lllp now owns 908 shares of the company’s stock valued at $27,000 after acquiring an additional 589 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in GigaCloud Technology by 25.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,372 shares of the company’s stock valued at $47,000 after purchasing an additional 483 shares in the last quarter. Ameritas Investment Partners Inc. boosted its stake in GigaCloud Technology by 17.6% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,705 shares of the company’s stock valued at $54,000 after purchasing an additional 405 shares in the last quarter. Global Retirement Partners LLC increased its position in shares of GigaCloud Technology by 534.3% during the 3rd 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 period. Finally, Police & Firemen s Retirement System of New Jersey raised its stake in shares of 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 buying an additional 1,489 shares in the last quarter. 34.94% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on GCT. Zacks Research lowered GigaCloud Technology from a “strong-buy” rating to a “hold” rating in a report on Friday, January 16th. Wall Street Zen upgraded shares of GigaCloud Technology from a “hold” rating to a “buy” rating in a research report on Saturday, December 13th. Finally, Weiss Ratings upgraded shares of GigaCloud Technology from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, January 27th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, GigaCloud Technology presently has a consensus rating of “Moderate Buy” and an average target price of $24.00.

Insider Transactions at GigaCloud Technology

In other news, CEO Lei Wu sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, January 22nd. The shares were sold at an average price of $40.78, for a total transaction of $815,600.00. Following the sale, the chief executive officer owned 678,090 shares in the company, valued at $27,652,510.20. The trade was a 2.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Xinyan Hao sold 800 shares of the company’s stock in a transaction that occurred on Friday, December 5th. The shares were sold at an average price of $40.04, for a total transaction of $32,032.00. Following the completion of the sale, the chief operating officer owned 357,486 shares of the company’s stock, valued at approximately $14,313,739.44. This trade represents a 0.22% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 331,229 shares of company stock valued at $12,449,189 over the last ninety days. Insiders own 24.71% of the company’s stock.

GigaCloud Technology Stock Up 3.3%

Shares of GigaCloud Technology stock opened at $35.23 on Friday. GigaCloud Technology Inc. has a 12-month low of $11.17 and a 12-month high of $44.71. The firm has a market capitalization of $1.31 billion, a PE ratio of 10.55 and a beta of 2.28. The stock’s fifty day moving average is $39.94 and its 200-day moving average is $33.06.

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.