Pacer Advisors Inc. purchased a new stake in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN – Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 155,051 shares of the company’s stock, valued at approximately $884,000. Pacer Advisors Inc. owned 0.19% of Grid Dynamics as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in Grid Dynamics by 5.0% in the 4th quarter. Vanguard Group Inc. now owns 5,920,753 shares of the company’s stock valued at $53,464,000 after acquiring an additional 279,995 shares in the last quarter. Wasatch Advisors LP boosted its position in shares of Grid Dynamics by 2.5% during the second quarter. Wasatch Advisors LP now owns 4,669,558 shares of the company’s stock worth $53,933,000 after buying an additional 112,319 shares during the period. Alyeska Investment Group L.P. boosted its position in shares of Grid Dynamics by 236.9% during the third quarter. Alyeska Investment Group L.P. now owns 4,290,786 shares of the company’s stock worth $33,082,000 after buying an additional 3,017,017 shares during the period. Fourth Sail Capital LP raised its position in Grid Dynamics by 36.2% in the 4th quarter. Fourth Sail Capital LP now owns 3,827,968 shares of the company’s stock valued at $34,567,000 after buying an additional 1,016,563 shares during the last quarter. Finally, Wellington Management Group LLP lifted its stake in Grid Dynamics by 20.8% in the 4th quarter. Wellington Management Group LLP now owns 2,356,779 shares of the company’s stock valued at $21,282,000 after acquiring an additional 405,381 shares in the last quarter. Institutional investors own 71.18% of the company’s stock.
Analyst Ratings Changes
A number of analysts have recently issued reports on GDYN shares. Weiss Ratings reiterated a “sell (d)” rating on shares of Grid Dynamics in a report on Friday, July 31st. Jefferies Financial Group cut shares of Grid Dynamics from a “buy” rating to a “hold” rating and set a $8.00 target price for the company. in a report on Friday, May 29th. Zacks Research raised shares of Grid Dynamics from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 5th. Needham & Company LLC lifted their price target on shares of Grid Dynamics from $8.00 to $10.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Finally, Citigroup restated a “cautious” rating on shares of Grid Dynamics in a research note on Friday, May 29th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $9.40.
Grid Dynamics Stock Performance
NASDAQ GDYN opened at $7.58 on Monday. The company has a market cap of $614.97 million, a PE ratio of 379.19 and a beta of 0.91. Grid Dynamics Holdings, Inc. has a 12 month low of $5.11 and a 12 month high of $10.21. The stock has a 50 day moving average of $6.21 and a 200-day moving average of $6.46.
Grid Dynamics (NASDAQ:GDYN – Get Free Report) last released its earnings results on Thursday, July 30th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.01. Grid Dynamics had a net margin of 0.68% and a return on equity of 1.90%. The business had revenue of $108.16 million during the quarter, compared to analysts’ expectations of $106.55 million. As a group, sell-side analysts predict that Grid Dynamics Holdings, Inc. will post 0.13 EPS for the current fiscal year.
Insider Activity at Grid Dynamics
In other news, COO Yury Gryzlov sold 4,435 shares of Grid Dynamics stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $8.00, for a total value of $35,480.00. Following the completion of the transaction, the chief operating officer owned 514,948 shares of the company’s stock, valued at $4,119,584. This trade represents a 0.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 6,147 shares of company stock valued at $46,323. Company insiders own 6.50% of the company’s stock.
About Grid Dynamics
Grid Dynamics (NASDAQ: GDYN) is a digital engineering and technology services company that helps enterprises accelerate their digital transformation initiatives. The company specializes in designing and implementing scalable, cloud-native solutions that leverage advanced analytics, machine learning and artificial intelligence to optimize operations, enhance customer experiences and drive revenue growth. Its technology expertise spans e-commerce platforms, modern data architectures, DevOps and automation, as well as custom application development across a range of industries including retail, financial services, high tech and automotive.
Key service offerings include cloud migration and modernization, data engineering and analytics, AI/ML-driven insights, digital commerce and omnichannel solutions.
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