Nomura Holdings Inc. Takes Position in GigaCloud Technology Inc. (NASDAQ:GCT)

Nomura Holdings Inc. purchased a new position in shares of GigaCloud Technology Inc. (NASDAQ:GCT) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 54,181 shares of the company’s stock, valued at approximately $991,000. Nomura Holdings Inc. owned 0.13% of GigaCloud Technology at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the stock. CWM LLC acquired a new position in shares of GigaCloud Technology during the fourth quarter worth $30,000. Quarry LP acquired a new position in GigaCloud Technology in the 4th quarter worth $47,000. Tucker Asset Management LLC boosted its position in GigaCloud Technology by 1,499.8% in the 4th quarter. Tucker Asset Management LLC now owns 7,999 shares of the company’s stock valued at $146,000 after buying an additional 7,499 shares during the last quarter. Foundations Investment Advisors LLC acquired a new stake in shares of GigaCloud Technology during the fourth quarter valued at about $207,000. Finally, Avantax Advisory Services Inc. purchased a new stake in shares of GigaCloud Technology during the fourth quarter worth about $226,000. 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 282,545 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $36.10, for a total value of $10,199,874.50. Following the sale, the chief operating officer now owns 854,941 shares of the company’s stock, valued at approximately $30,863,370.10. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other GigaCloud Technology news, CEO Lei Wu sold 1,000 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $29.53, for a total value of $29,530.00. Following the completion of the transaction, the chief executive officer now owns 1,248,994 shares in the company, valued at approximately $36,882,792.82. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Xinyan Hao sold 282,545 shares of GigaCloud Technology stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $36.10, for a total value of $10,199,874.50. Following the sale, the chief operating officer now directly owns 854,941 shares in the company, valued at approximately $30,863,370.10. The disclosure for this sale can be found here. Insiders have sold a total of 1,578,698 shares of company stock worth $53,711,842 over the last quarter. 43.00% of the stock is owned by company insiders.

GigaCloud Technology Stock Down 2.5 %

Shares of NASDAQ GCT opened at $29.46 on Friday. The stock’s 50 day moving average price is $33.73 and its two-hundred day moving average price is $28.57. GigaCloud Technology Inc. has a 52-week low of $6.70 and a 52-week high of $45.18. The stock has a market capitalization of $1.20 billion, a P/E ratio of 11.46 and a beta of 1.87.

GigaCloud Technology (NASDAQ:GCT) last posted its quarterly earnings results on Thursday, May 9th. The company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.33. The business had revenue of $251.08 million for the quarter, compared to analyst estimates of $235.00 million. GigaCloud Technology had a return on equity of 41.24% and a net margin of 12.74%. During the same period in the prior year, the company posted $0.39 EPS. On average, analysts anticipate that GigaCloud Technology Inc. will post 3.25 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on GCT shares. Maxim Group began coverage on GigaCloud Technology in a research note on Wednesday, May 22nd. They set a “buy” rating and a $69.00 price objective for the company. Roth Mkm upped their price target on shares of GigaCloud Technology from $28.00 to $35.00 and gave the company a “buy” rating in a report on Tuesday, April 2nd.

GigaCloud Technology Company Profile

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.