Kingstone Capital Partners Texas LLC Makes New Investment in GigaCloud Technology Inc. $GCT

Key Points

• Kingstone Capital Partners Texas LLC purchased 30,700 shares of GigaCloud Technology Inc. at a value of approximately $607,000, increasing its ownership to 0.08% as of the end of the second quarter.
• GigaCloud reported a quarterly earnings per share of $0.91, significantly beating the analysts' consensus estimate of $0.46, along with an increase in revenue to $322.61 million.
• Insider activity shows CEO Lei Wu sold 100,000 shares valued at approximately $2.85 million, reducing their ownership by 62.50%.

Kingstone Capital Partners Texas LLC bought a new position in GigaCloud Technology Inc. (NASDAQ:GCT - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 30,700 shares of the company's stock, valued at approximately $607,000. Kingstone Capital Partners Texas LLC owned about 0.08% of GigaCloud Technology at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Voya Investment Management LLC increased its holdings in GigaCloud Technology by 25.6% in the 1st quarter. Voya Investment Management LLC now owns 16,692 shares of the company's stock worth $237,000 after acquiring an additional 3,398 shares in the last quarter. Rhumbline Advisers increased its stake in GigaCloud Technology by 7.7% in the first quarter. Rhumbline Advisers now owns 32,184 shares of the company's stock worth $457,000 after purchasing an additional 2,302 shares during the period. Empowered Funds LLC raised its position in GigaCloud Technology by 2.1% during the 1st quarter. Empowered Funds LLC now owns 198,933 shares of the company's stock valued at $2,825,000 after purchasing an additional 4,034 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of GigaCloud Technology by 24.9% during the first quarter. Goldman Sachs Group Inc. now owns 142,055 shares of the company's stock valued at $2,017,000 after purchasing an additional 28,309 shares in the last quarter. Finally, Jones Financial Companies Lllp boosted its holdings in shares of GigaCloud Technology by 2,444.8% in the 1st quarter. Jones Financial Companies Lllp now owns 4,199 shares of the company's stock valued at $60,000 after buying an additional 4,034 shares in the last quarter. Institutional investors own 34.94% of the company's stock.

Analyst Ratings Changes

GCT has been the topic of several recent research reports. Lake Street Capital upped their price objective on GigaCloud Technology from $26.00 to $33.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. Wall Street Zen downgraded shares of GigaCloud Technology from a "buy" rating to a "hold" rating in a research note on Sunday, September 7th. Finally, Zacks Research raised shares of GigaCloud Technology from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 19th. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $24.00.

Insider Buying and Selling at GigaCloud Technology

In other GigaCloud Technology news, CEO Lei Wu sold 100,000 shares of the firm's stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $28.52, for a total transaction of $2,852,000.00. Following the completion of the transaction, the chief executive officer owned 60,000 shares of the company's stock, valued at approximately $1,711,200. This trade represents a 62.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Marshall Bernes sold 16,000 shares of the business's stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $31.29, for a total value of $500,640.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 120,000 shares of company stock worth $3,481,720. Corporate insiders own 24.71% of the company's stock.

GigaCloud Technology Price Performance

Shares of NASDAQ GCT traded up $0.55 during trading hours on Monday, reaching $30.11. The stock had a trading volume of 1,215,532 shares, compared to its average volume of 1,152,217. The business's fifty day moving average is $26.68 and its two-hundred day moving average is $19.90. GigaCloud Technology Inc. has a twelve month low of $11.17 and a twelve month high of $34.50. The company has a market cap of $1.13 billion, a price-to-earnings ratio of 8.88 and a beta of 2.37.

GigaCloud Technology (NASDAQ:GCT - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.45. The company had revenue of $322.61 million during the quarter, compared to analysts' expectations of $290.08 million. GigaCloud Technology had a net margin of 11.17% and a return on equity of 32.33%. The business's quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.03 earnings per share. GigaCloud Technology has set its Q3 2025 guidance at EPS. Sell-side analysts forecast that GigaCloud Technology Inc. will post 3.1 earnings per share for the current fiscal year.

GigaCloud Technology announced that its Board of Directors has authorized a stock repurchase program on Monday, August 18th that allows the company to repurchase $0.00 in shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company's board believes its shares are undervalued.

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.