Independent Advisor Alliance Lowers Holdings in GigaCloud Technology Inc. (NASDAQ:GCT)

Independent Advisor Alliance decreased its position in GigaCloud Technology Inc. (NASDAQ:GCT) by 67.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,433 shares of the company’s stock after selling 39,575 shares during the period. Independent Advisor Alliance’s holdings in GigaCloud Technology were worth $447,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Amalgamated Bank bought a new position in shares of GigaCloud Technology in the second quarter worth approximately $25,000. MFA Wealth Advisors LLC bought a new position in GigaCloud Technology in the 3rd quarter valued at approximately $26,000. New York State Teachers Retirement System bought a new position in GigaCloud Technology in the 3rd quarter valued at approximately $49,000. Benjamin F. Edwards & Company Inc. purchased a new stake in GigaCloud Technology during the 2nd quarter valued at $66,000. Finally, Banque Cantonale Vaudoise increased its holdings in shares of GigaCloud Technology by 345.6% in the 3rd quarter. Banque Cantonale Vaudoise now owns 7,286 shares of the company’s stock worth $167,000 after purchasing an additional 5,651 shares in the last quarter. 34.94% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Aegis raised GigaCloud Technology to a “strong-buy” rating in a research report on Wednesday, August 14th.

GigaCloud Technology Trading Up 0.2 %

Shares of GCT stock opened at $24.78 on Friday. GigaCloud Technology Inc. has a 12-month low of $8.70 and a 12-month high of $45.18. The stock has a market capitalization of $1.02 billion, a P/E ratio of 7.84 and a beta of 1.78. The firm’s 50 day moving average is $23.92 and its 200 day moving average is $26.04.

GigaCloud Technology 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.