GigaCloud Technology Inc. $GCT Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. lowered its position in shares of GigaCloud Technology Inc. (NASDAQ:GCT) by 23.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 183,561 shares of the company’s stock after selling 56,405 shares during the quarter. Pacer Advisors Inc.’s holdings in GigaCloud Technology were worth $7,210,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in GCT. LSV Asset Management boosted its holdings in shares of GigaCloud Technology by 824.2% in the fourth quarter. LSV Asset Management now owns 736,600 shares of the company’s stock valued at $28,934,000 after acquiring an additional 656,900 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in shares of GigaCloud Technology during the third quarter worth about $14,335,000. UBS Group AG raised its holdings in GigaCloud Technology by 133.8% during the third quarter. UBS Group AG now owns 441,992 shares of the company’s stock worth $12,553,000 after purchasing an additional 252,934 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in GigaCloud Technology by 67.7% during the second quarter. JPMorgan Chase & Co. now owns 339,885 shares of the company’s stock worth $6,723,000 after purchasing an additional 137,201 shares in the last quarter. Finally, Dimensional Fund Advisors LP acquired a new stake in GigaCloud Technology in the fourth quarter valued at about $5,266,000. Institutional investors and hedge funds own 34.94% of the company’s stock.

GigaCloud Technology Stock Performance

Shares of NASDAQ GCT opened at $33.98 on Monday. GigaCloud Technology Inc. has a one year low of $17.11 and a one year high of $51.86. The firm has a market capitalization of $1.25 billion, a P/E ratio of 8.54 and a beta of 1.69. The company’s fifty day moving average is $39.54 and its two-hundred day moving average is $40.23.

GigaCloud Technology (NASDAQ:GCT) last announced its quarterly earnings results on Friday, May 8th. The company reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.17. GigaCloud Technology had a net margin of 10.77% and a return on equity of 31.48%. The business had revenue of $359.49 million during the quarter, compared to the consensus estimate of $342.57 million. During the same quarter last year, the firm posted $0.68 EPS. The business’s revenue was up 32.2% compared to the same quarter last year. On average, sell-side analysts forecast that GigaCloud Technology Inc. will post 4.18 earnings per share for the current fiscal year.

Analysts Set New Price Targets

GCT has been the topic of a number of analyst reports. Zacks Research lowered GigaCloud Technology from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 5th. Weiss Ratings downgraded GigaCloud Technology from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, June 8th. Finally, Wall Street Zen cut GigaCloud Technology from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 16th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $33.00.

About GigaCloud Technology

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.