Teacher Retirement System of Texas Makes New $952,000 Investment in GigaCloud Technology Inc. $GCT

Teacher Retirement System of Texas bought a new stake in GigaCloud Technology Inc. (NASDAQ:GCT) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 33,536 shares of the company’s stock, valued at approximately $952,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Geode Capital Management LLC increased its holdings in GigaCloud Technology by 9.1% during the 2nd quarter. Geode Capital Management LLC now owns 630,805 shares of the company’s stock valued at $12,479,000 after purchasing an additional 52,415 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of GigaCloud Technology by 1.0% during the second quarter. Franklin Resources Inc. now owns 407,960 shares of the company’s stock worth $8,069,000 after purchasing an additional 4,163 shares during the last quarter. Bridgeway Capital Management LLC increased its stake in shares of GigaCloud Technology by 0.8% in the second quarter. Bridgeway Capital Management LLC now owns 380,656 shares of the company’s stock valued at $7,529,000 after buying an additional 3,023 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of GigaCloud Technology by 67.7% in the second quarter. JPMorgan Chase & Co. now owns 339,885 shares of the company’s stock valued at $6,723,000 after buying an additional 137,201 shares during the last quarter. Finally, Empowered Funds LLC lifted its position in GigaCloud Technology by 1.5% during the 2nd quarter. Empowered Funds LLC now owns 201,956 shares of the company’s stock worth $3,995,000 after buying an additional 3,023 shares in the last quarter. 34.94% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Lei Wu sold 20,000 shares of the firm’s stock in a transaction on Friday, January 9th. The stock was sold at an average price of $42.08, for a total value of $841,600.00. Following the transaction, the chief executive officer directly owned 800,000 shares in the company, valued at $33,664,000. This trade represents a 2.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Xinyan Hao sold 100,000 shares of GigaCloud Technology stock in a transaction on Friday, November 21st. The stock was sold at an average price of $35.18, for a total value of $3,518,000.00. Following the sale, the chief operating officer directly owned 407,486 shares of the company’s stock, valued at approximately $14,335,357.48. This trade represents a 19.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 451,229 shares of company stock worth $16,223,189. 24.71% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on GCT. 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. Zacks Research cut shares of GigaCloud Technology from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 16th. Finally, Wall Street Zen upgraded shares of GigaCloud Technology from a “hold” rating to a “buy” rating in a research report on Saturday, December 13th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, GigaCloud Technology has a consensus rating of “Moderate Buy” and a consensus target price of $24.00.

GigaCloud Technology Trading Up 1.2%

Shares of NASDAQ GCT opened at $40.40 on Tuesday. GigaCloud Technology Inc. has a 1 year low of $11.17 and a 1 year high of $44.71. The firm’s 50-day moving average is $39.97 and its 200-day moving average is $32.25. The firm has a market capitalization of $1.50 billion, a PE ratio of 12.10 and a beta of 2.28.

GigaCloud Technology (NASDAQ:GCT) last announced its quarterly earnings data on Thursday, November 6th. The company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.34. GigaCloud Technology had a net margin of 10.62% and a return on equity of 30.43%. The business had revenue of $332.64 million for the quarter, compared to analyst estimates of $300.96 million. During the same period in the prior year, the business posted $1.15 earnings per share. GigaCloud Technology’s revenue was up 9.7% compared to the same quarter last year. As a group, equities research analysts anticipate that GigaCloud Technology Inc. will post 3.1 earnings per share for the current fiscal year.

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.