GigaCloud Technology Inc. $GCT Shares Sold by Hussman Strategic Advisors Inc.

Key Points

• Hussman Strategic Advisors cut its stake in GigaCloud Technology by 58.3% in Q4, selling 73,500 shares and retaining 52,500 shares (about $2.06M), reducing its ownership to 0.14%.
• GigaCloud beat estimates for the quarter with $1.04 EPS vs. $0.65 expected and $362.8M revenue (up 22.6% YoY), and analysts have since moved ratings higher with a consensus rating of Buy.
• Large insider selling has occurred recently—CTO and CEO sold sizable blocks and insiders sold 598,090 shares (~$25.7M) over three months, though insiders still own about 24.7% of the company.

Hussman Strategic Advisors Inc. lessened its holdings in shares of GigaCloud Technology Inc. (NASDAQ:GCT - Free Report) by 58.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 52,500 shares of the company's stock after selling 73,500 shares during the quarter. Hussman Strategic Advisors Inc. owned 0.14% of GigaCloud Technology worth $2,062,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. increased its position in GigaCloud Technology by 18.2% during the 3rd quarter. Vanguard Group Inc. now owns 803,664 shares of the company's stock worth $22,824,000 after purchasing an additional 123,596 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in GigaCloud Technology during the 3rd quarter worth $14,335,000. UBS Group AG boosted its position in GigaCloud Technology by 133.8% during the 3rd 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 during the period. Franklin Resources Inc. boosted its position in GigaCloud Technology by 3.3% during the 3rd quarter. Franklin Resources Inc. now owns 421,507 shares of the company's stock worth $11,971,000 after purchasing an additional 13,547 shares during the period. Finally, Bridgeway Capital Management LLC boosted its position in GigaCloud Technology by 0.8% during the 2nd quarter. Bridgeway Capital Management LLC now owns 380,656 shares of the company's stock worth $7,529,000 after purchasing an additional 3,023 shares during the period. Institutional investors and hedge funds own 34.94% of the company's stock.

GigaCloud Technology Trading Up 1.4%

Shares of GigaCloud Technology stock opened at $45.10 on Friday. The company has a fifty day moving average price of $43.64 and a 200 day moving average price of $38.80. GigaCloud Technology Inc. has a twelve month low of $12.88 and a twelve month high of $51.86. The stock has a market cap of $1.65 billion, a price-to-earnings ratio of 12.46 and a beta of 1.83.

GigaCloud Technology (NASDAQ:GCT - Get Free Report) last posted its quarterly earnings data on Friday, February 27th. The company reported $1.04 earnings per share for the quarter, beating analysts' consensus estimates of $0.65 by $0.39. The company had revenue of $362.75 million during the quarter, compared to analysts' expectations of $332.33 million. GigaCloud Technology had a net margin of 10.65% and a return on equity of 30.74%. The firm's revenue for the quarter was up 22.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.76 EPS. Analysts forecast that GigaCloud Technology Inc. will post 4.1 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently weighed in on GCT shares. Wall Street Zen raised shares of GigaCloud Technology from a "buy" rating to a "strong-buy" rating in a research report on Saturday, February 28th. Zacks Research raised shares of GigaCloud Technology from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, March 10th. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of GigaCloud Technology in a research report on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company. According to data from MarketBeat.com, GigaCloud Technology currently has a consensus rating of "Buy" and a consensus price target of $33.00.

Insider Transactions at GigaCloud Technology

In other GigaCloud Technology news, CTO Xin Wan sold 100,000 shares of the company's stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $43.38, for a total value of $4,338,000.00. Following the completion of the transaction, the chief technology officer directly owned 717,540 shares of the company's stock, valued at $31,126,885.20. This represents a 12.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Lei Wu sold 70,000 shares of the company's stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $45.28, for a total transaction of $3,169,600.00. Following the completion of the transaction, the chief executive officer directly owned 608,090 shares of the company's stock, valued at approximately $27,534,315.20. The trade was a 10.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 598,090 shares of company stock valued at $25,666,400. 24.71% of the stock is currently owned by corporate insiders.

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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