Arrowstreet Capital Limited Partnership Reduces Position in GigaCloud Technology Inc. $GCT

Key Points

• Arrowstreet Capital reduced its GigaCloud Technology stake by 12.4% in the first quarter, selling 86,619 shares and retaining 609,562 shares valued at approximately $27.7 million. Institutional investors collectively own 34.94% of GCT.
• Analyst sentiment has weakened, with recent downgrades leaving GigaCloud with a consensus “Hold” rating and an average price target of $33.00, below its reported opening price of $41.59.
• Despite the cautious outlook, GigaCloud exceeded quarterly expectations, reporting $1.04 in EPS and $359.49 million in revenue. Revenue increased 32.2% year over year, while analysts forecast full-year EPS of $4.18.

Arrowstreet Capital Limited Partnership decreased its holdings in GigaCloud Technology Inc. (NASDAQ:GCT - Free Report) by 12.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 609,562 shares of the company's stock after selling 86,619 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 1.66% of GigaCloud Technology worth $27,662,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of GCT. Quarry LP purchased a new position in shares of GigaCloud Technology during the 3rd quarter worth $29,000. Larson Financial Group LLC acquired a new position in shares of GigaCloud Technology during the 3rd quarter valued at about $30,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of GigaCloud Technology in the third quarter valued at about $30,000. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of GigaCloud Technology in the fourth quarter valued at about $44,000. Finally, Meeder Asset Management Inc. acquired a new stake in GigaCloud Technology during the first quarter worth about $60,000. 34.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on GCT shares. Wall Street Zen lowered shares of GigaCloud Technology from a "strong-buy" rating to a "buy" rating in a research report on Saturday, May 16th. Weiss Ratings downgraded GigaCloud Technology from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Monday, June 8th. Finally, Zacks Research lowered shares of GigaCloud Technology from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 5th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, GigaCloud Technology has a consensus rating of "Hold" and an average target price of $33.00.

GigaCloud Technology Stock Performance

GigaCloud Technology stock opened at $41.59 on Thursday. GigaCloud Technology Inc. has a fifty-two week low of $20.71 and a fifty-two week high of $51.86. The firm has a 50 day moving average price of $35.10 and a 200 day moving average price of $39.34. The company has a market capitalization of $1.53 billion, a PE ratio of 10.45 and a beta of 1.72.

GigaCloud Technology (NASDAQ:GCT - Get Free Report) last released its quarterly earnings results on Friday, May 8th. The company reported $1.04 EPS for the quarter, topping analysts' consensus estimates of $0.87 by $0.17. GigaCloud Technology had a return on equity of 31.48% and a net margin of 10.77%.The company had revenue of $359.49 million for the quarter, compared to analysts' expectations of $342.57 million. During the same period in the prior year, the firm earned $0.68 earnings per share. The firm's revenue was up 32.2% compared to the same quarter last year. As a group, equities research analysts forecast that GigaCloud Technology Inc. will post 4.18 earnings per share for the current year.

GigaCloud Technology Profile

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.

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