Pacific Ridge Capital Partners LLC Reduces Holdings in GigaCloud Technology Inc. $GCT

Pacific Ridge Capital Partners LLC reduced its stake in GigaCloud Technology Inc. (NASDAQ:GCT) by 40.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 24,274 shares of the company’s stock after selling 16,779 shares during the quarter. Pacific Ridge Capital Partners LLC’s holdings in GigaCloud Technology were worth $689,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Nordea Investment Management AB acquired a new position in GigaCloud Technology during the 3rd quarter valued at approximately $3,852,000. Hussman Strategic Advisors Inc. purchased a new stake in shares of GigaCloud Technology during the third quarter valued at $3,578,000. Teacher Retirement System of Texas acquired a new position in shares of GigaCloud Technology in the 3rd quarter valued at $952,000. Inspire Investing LLC acquired a new position in shares of GigaCloud Technology in the 3rd quarter valued at $1,040,000. Finally, Ethos Financial Group LLC raised its stake in GigaCloud Technology by 53.5% in the 2nd quarter. Ethos Financial Group LLC now owns 62,515 shares of the company’s stock worth $1,237,000 after acquiring an additional 21,798 shares during the last quarter. 34.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, COO Xinyan Hao sold 800 shares of the firm’s stock in a transaction 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 sale, the chief operating officer owned 357,486 shares in the company, valued at approximately $14,313,739.44. This trade represents a 0.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Lei Wu sold 20,000 shares of GigaCloud Technology stock in a transaction 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 completion of the transaction, the chief executive officer directly owned 678,090 shares of the company’s stock, valued at $27,652,510.20. The trade was a 2.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 171,910 shares of company stock worth $7,097,748 in the last ninety days. Corporate insiders own 24.71% of the company’s stock.

GigaCloud Technology Stock Up 2.4%

GigaCloud Technology stock opened at $35.31 on Thursday. The business’s 50-day moving average price is $39.22 and its 200 day moving average price is $33.81. The firm has a market cap of $1.31 billion, a price-to-earnings ratio of 10.57 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 Ratings Changes

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

GigaCloud Technology 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.