Sei Investments Co. Takes $2.79 Million Position in GigaCloud Technology Inc. $GCT

Sei Investments Co. bought a new stake in shares of GigaCloud Technology Inc. (NASDAQ:GCT) during the 1st quarter, HoldingsChannel reports. The firm bought 61,402 shares of the company’s stock, valued at approximately $2,786,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Strs Ohio lifted its holdings in GigaCloud Technology by 3.7% in the 1st quarter. Strs Ohio now owns 11,100 shares of the company’s stock worth $504,000 after buying an additional 400 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in shares of GigaCloud Technology by 25.6% during the second quarter. Tower Research Capital LLC TRC now owns 2,372 shares of the company’s stock valued at $47,000 after acquiring an additional 483 shares in the last quarter. SG Americas Securities LLC grew its stake in shares of GigaCloud Technology by 10.2% during the fourth quarter. SG Americas Securities LLC now owns 5,249 shares of the company’s stock valued at $206,000 after acquiring an additional 485 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of GigaCloud Technology by 14.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,853 shares of the company’s stock worth $166,000 after acquiring an additional 759 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in shares of GigaCloud Technology by 7.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 14,880 shares of the company’s stock worth $585,000 after acquiring an additional 984 shares during the last quarter. 34.94% of the stock is owned by institutional investors and hedge funds.

GigaCloud Technology Stock Performance

GCT opened at $53.25 on Friday. The company has a market capitalization of $1.96 billion, a P/E ratio of 12.59 and a beta of 1.65. The company has a 50-day moving average of $36.38 and a 200-day moving average of $39.61. GigaCloud Technology Inc. has a 1-year low of $24.86 and a 1-year high of $56.27.

GigaCloud Technology (NASDAQ:GCT) last issued its quarterly earnings results on Thursday, August 6th. The company reported $1.16 EPS for the quarter, topping the consensus estimate of $0.90 by $0.26. The business had revenue of $411.64 million for the quarter, compared to analysts’ expectations of $380.63 million. GigaCloud Technology had a net margin of 10.65% and a return on equity of 32.23%. As a group, sell-side analysts expect that GigaCloud Technology Inc. will post 4.18 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently commented on GCT shares. Zacks Research downgraded GigaCloud Technology from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 5th. Weiss Ratings lowered GigaCloud Technology from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, June 8th. Finally, Wall Street Zen cut GigaCloud Technology from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 16th. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat, GigaCloud Technology presently has an average rating of “Hold”.

GigaCloud Technology News Roundup

Here are the key news stories impacting GigaCloud Technology this week:

• Positive Sentiment: Q2 results beat estimates: Revenue rose 27.6% year over year to $411.6 million, above the roughly $380.6 million consensus estimate, while diluted EPS of $1.16 exceeded estimates ranging from $0.85 to $0.90. Net income increased 22.3% to $42.3 million, and adjusted EBITDA climbed 39.5% to $60.4 million. GigaCloud Technology Q2 financial results
• Positive Sentiment: Margins and operating metrics improved: Gross margin expanded to 25.6% from 23.9% a year earlier. Marketplace GMV grew 21.3% to $1.74 billion over the latest 12 months, while third-party seller GMV rose 27.0%; active sellers and buyers increased 26.1% and 17.1%, respectively.
• Positive Sentiment: Guidance topped expectations: GigaCloud forecast third-quarter revenue of $375 million to $400 million, above the approximately $370.7 million analyst consensus, reinforcing expectations for continued growth. GigaCloud Q2 results and guidance
• Positive Sentiment: Buyback expanded: The company authorized a new three-year, $120 million share-repurchase program after buying back approximately $30 million of shares during the quarter and another $18 million after quarter-end. The move signals management’s confidence and could support per-share results. The earnings call also highlighted 66% European GMV growth and the integration of New Classic. GCT earnings call takeaways
• Neutral Sentiment: Key risks remain: Cash, restricted cash and investments declined 9.2% from year-end, partly reflecting acquisitions and repurchases. Net margin edged lower year over year despite higher profit, and reported insider activity included substantial selling with no purchases in the latest six months.

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.