1 day Ago By Defense World Staff
Bank of New York Mellon Corp purchased a new position in GigaCloud Technology Inc. ( NASDAQ:GCT – Free Report ) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 65,738 shares of the company’s stock, valued at approximately $2,000,000.
Bank of New York Mellon Corp owned 0.16% of GigaCloud Technology as of its most recent SEC filing. Several other large investors also recently bought and sold shares of the company.
Janney Montgomery Scott LLC acquired a new position in GigaCloud Technology in the first quarter worth about $599,000. Avantax Advisory Services Inc. bought a new stake in shares of GigaCloud Technology in the 4th quarter valued at approximately $226,000.
Quadrature Capital Ltd acquired a new stake in shares of GigaCloud Technology during the 4th quarter valued at approximately $2,803,000. Rock Creek Group LP bought a new position in GigaCloud Technology during the fourth quarter worth $927,000. Finally, Nomura Holdings Inc.
acquired a new position in GigaCloud Technology in the fourth quarter worth $991,000. Institutional investors and hedge funds own 34.94% of the company’s stock.
Insiders Place Their Bets In related news, President Iman Aj Schrock sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $30.21, for a total value of $151,050.
00. Following the completion of the sale, the president now owns 25,000 shares of the company’s stock, valued at $755,250. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website .
In other GigaCloud Technology news, President Iman Aj Schrock sold 5,000 shares of GigaCloud Technology stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $30.21, for a total transaction of $151,050.
00. Following the completion of the sale, the president now owns 25,000 shares of the company’s stock, valued at approximately $755,250. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink .
Also, Director Frank Hurst Lin sold 15,993 shares of the company’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $30.14, for a total value of $482,029.
02. Following the completion of the sale, the director now owns 4,588,873 shares of the company’s stock, valued at approximately $138,308,632.22.
The disclosure for this sale can be found here . Over the last quarter, insiders have sold 195,741 shares of company stock valued at $5,829,966. 43.
00% of the stock is currently owned by corporate insiders. GigaCloud Technology Stock Up 6.9 % GigaCloud Technology ( NASDAQ:GCT – Get Free Report ) last released its quarterly earnings data on Tuesday, August 6th.
The company reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.
32. The business had revenue of $310.90 million for the quarter, compared to analysts’ expectations of $275.
47 million. GigaCloud Technology had a return on equity of 39.75% and a net margin of 11.
57%. GigaCloud Technology’s quarterly revenue was up 102.8% on a year-over-year basis.
During the same period in the previous year, the business posted $0.45 earnings per share. Analysts anticipate that GigaCloud Technology Inc.
will post 2.67 EPS for the current year. Analyst Ratings Changes Several brokerages have weighed in on GCT.
Lake Street Capital initiated coverage on GigaCloud Technology in a research report on Monday, July 29th. They issued a “buy” rating and a $50.00 target price on the stock.
Aegis raised shares of GigaCloud Technology to a “strong-buy” rating in a report on Wednesday, August 14th. Finally, Maxim Group initiated coverage on shares of GigaCloud Technology in a research note on Wednesday, May 22nd. They set a “buy” rating and a $69.
00 target price for the company. Read Our Latest Stock Analysis on GigaCloud Technology About GigaCloud Technology ( Free Report ) GigaCloud Technology Inc provides end-to-end B2B ecommerce solutions for large parcel merchandise in the United States and internationally. The company offers GigaCloud Marketplace integrates product discovery to payments to logistics tools into one easy-to-use platform.
Its marketplace connects manufacturers primarily in Asia with resellers in the United States, Asia, and Europe to execute cross-border transactions across furniture, home appliance, fitness equipment, and other large parcel categories. Further Reading Five stocks we like better than GigaCloud Technology Top Stocks Investing in 5G Technology Galmed Pharmaceuticals Surges 400%: What’s Behind the Explosion? Investing in Construction Stocks Gold Hits New All-Time Highs: 3 Stocks to Ride the Surge Upcoming IPO Stock Lockup Period, Explained Intel: Why It’s Time to Reconsider This Beaten-Down Chipmaker Want to see what other hedge funds are holding GCT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for GigaCloud Technology Inc.
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