Pacific Ridge Capital Partners LLC Sells 16,779 Shares of GigaCloud Technology Inc. $GCT

Pacific Ridge Capital Partners LLC decreased its holdings in GigaCloud Technology Inc. (NASDAQ:GCT) by 40.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,274 shares of the company’s stock after selling 16,779 shares during the period. Pacific Ridge Capital Partners LLC owned about 0.06% of GigaCloud Technology worth $689,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of GigaCloud Technology by 18.2% in the third quarter. Vanguard Group Inc. now owns 803,664 shares of the company’s stock worth $22,824,000 after purchasing an additional 123,596 shares during the last quarter. Geode Capital Management LLC grew its stake in GigaCloud Technology by 9.1% in the 2nd quarter. Geode Capital Management LLC now owns 630,805 shares of the company’s stock worth $12,479,000 after acquiring an additional 52,415 shares in the last quarter. Franklin Resources Inc. grew its stake in GigaCloud Technology by 1.0% in the 2nd quarter. Franklin Resources Inc. now owns 407,960 shares of the company’s stock worth $8,069,000 after acquiring an additional 4,163 shares in the last quarter. Bridgeway Capital Management LLC increased its position in shares of 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 during the period. Finally, JPMorgan Chase & Co. raised its stake in shares of GigaCloud Technology by 67.7% during the second quarter. JPMorgan Chase & Co. now owns 339,885 shares of the company’s stock valued at $6,723,000 after acquiring an additional 137,201 shares in the last quarter. 34.94% of the stock is owned by hedge funds and other institutional investors.

GigaCloud Technology Stock Performance

Shares of GigaCloud Technology stock opened at $35.31 on Thursday. The company has a market capitalization of $1.31 billion, a PE ratio of 10.57 and a beta of 2.28. The company has a 50-day simple moving average of $39.22 and a two-hundred day simple moving average of $33.81. GigaCloud Technology Inc. has a one year low of $11.17 and a one year high of $44.71.

Analysts Set New Price Targets

GCT has been the topic of several research analyst reports. Wall Street Zen raised GigaCloud Technology from a “hold” rating to a “buy” rating in a research note on Saturday, December 13th. Zacks Research downgraded GigaCloud Technology from a “strong-buy” rating to a “hold” rating in a research report 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 issued a Hold rating to the company’s stock. Based on data from MarketBeat, GigaCloud Technology has a consensus rating of “Moderate Buy” and a consensus target price of $24.00.

Insider Activity at GigaCloud Technology

In other GigaCloud Technology news, CEO Lei Wu sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, January 16th. The shares were sold at an average price of $41.34, for a total value of $826,800.00. Following the completion of the sale, the chief executive officer directly owned 700,000 shares in the company, valued at $28,938,000. This trade represents a 2.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Xinyan Hao sold 49,200 shares of GigaCloud Technology stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $40.07, for a total transaction of $1,971,444.00. Following the completion of the transaction, the chief operating officer directly owned 358,286 shares in the company, valued at $14,356,520.02. This represents a 12.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 171,910 shares of company stock valued at $7,097,748. 24.71% of the stock is currently owned by company 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.