UBS Group AG Has $8.45 Million Position in GigaCloud Technology Inc. $GCT

UBS Group AG lowered its holdings in shares of GigaCloud Technology Inc. (NASDAQ:GCT) by 51.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 215,188 shares of the company’s stock after selling 226,804 shares during the period. UBS Group AG owned about 0.58% of GigaCloud Technology worth $8,453,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Jones Financial Companies Lllp boosted its stake in GigaCloud Technology by 184.6% during the third quarter. Jones Financial Companies Lllp now owns 908 shares of the company’s stock worth $27,000 after buying an additional 589 shares in the last quarter. Quarry LP acquired a new stake in GigaCloud Technology during the third quarter worth $29,000. Larson Financial Group LLC acquired a new stake in GigaCloud Technology during the third quarter worth $30,000. Caitong International Asset Management Co. Ltd acquired a new stake in GigaCloud Technology during the third quarter worth $30,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in GigaCloud Technology during the fourth quarter worth $44,000. Institutional investors and hedge funds own 34.94% of the company’s stock.

GigaCloud Technology Price Performance

Shares of GCT stock opened at $36.06 on Monday. The stock’s fifty day simple moving average is $43.62 and its 200 day simple moving average is $39.66. The firm has a market cap of $1.33 billion, a price-to-earnings ratio of 9.06 and a beta of 1.83. GigaCloud Technology Inc. has a one year low of $17.11 and a one year high of $51.86.

GigaCloud Technology (NASDAQ:GCT) last announced its quarterly earnings results on Thursday, May 7th. The company reported $1.04 EPS for the quarter, beating the consensus estimate of $0.87 by $0.17. The business had revenue of $359.49 million for the quarter, compared to analyst estimates of $342.58 million. GigaCloud Technology had a return on equity of 31.48% and a net margin of 10.77%.GigaCloud Technology’s quarterly revenue was up 32.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.68 EPS. On average, research analysts anticipate that GigaCloud Technology Inc. will post 4.28 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on GCT shares. Zacks Research downgraded shares of GigaCloud Technology from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 5th. Wall Street Zen downgraded shares of GigaCloud Technology from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of GigaCloud Technology in a research note on Friday, April 24th. Two investment 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 has an average rating of “Moderate Buy” and a consensus target price of $33.00.

Insider Buying and Selling at GigaCloud Technology

In other GigaCloud Technology news, CEO Lei Wu sold 32,481 shares of the business’s stock in a transaction on Friday, March 20th. The stock was sold at an average price of $40.41, for a total value of $1,312,557.21. Following the transaction, the chief executive officer owned 60,000 shares of the company’s stock, valued at approximately $2,424,600. The trade was a 35.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Xin Wan sold 100,000 shares of the business’s stock in a transaction on Thursday, March 5th. The stock was 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 in the company, valued at approximately $31,126,885.20. This represents a 12.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 598,090 shares of company stock worth $25,666,400. 24.71% of the stock is owned by insiders.

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.