Riverbridge Partners LLC Cuts Holdings in Grid Dynamics Holdings, Inc. $GDYN

Riverbridge Partners LLC decreased its holdings in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 13.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,745,967 shares of the company’s stock after selling 260,839 shares during the period. Riverbridge Partners LLC’s holdings in Grid Dynamics were worth $15,766,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Pacer Advisors Inc. purchased a new stake in shares of Grid Dynamics during the third quarter valued at $1,199,000. Squarepoint Ops LLC purchased a new position in Grid Dynamics in the 2nd quarter worth about $2,565,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Grid Dynamics in the 2nd quarter worth about $1,068,000. Geode Capital Management LLC lifted its stake in Grid Dynamics by 7.0% during the 2nd quarter. Geode Capital Management LLC now owns 1,639,992 shares of the company’s stock valued at $18,944,000 after acquiring an additional 107,495 shares during the period. Finally, SG Americas Securities LLC lifted its stake in Grid Dynamics by 108.1% during the 3rd quarter. SG Americas Securities LLC now owns 139,156 shares of the company’s stock valued at $1,073,000 after acquiring an additional 72,283 shares during the period. Hedge funds and other institutional investors own 71.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on GDYN. Needham & Company LLC reduced their price target on shares of Grid Dynamics from $13.00 to $10.00 and set a “buy” rating for the company in a research note on Friday, March 6th. Northland Securities lowered their price objective on shares of Grid Dynamics from $14.00 to $12.00 and set an “outperform” rating on the stock in a research report on Monday, March 9th. Zacks Research cut shares of Grid Dynamics from a “hold” rating to a “strong sell” rating in a report on Monday, March 9th. TD Cowen cut their target price on shares of Grid Dynamics from $12.00 to $11.00 and set a “buy” rating for the company in a research report on Friday, March 6th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Grid Dynamics from $10.00 to $9.00 and set an “overweight” rating for the company in a research note on Wednesday, February 18th. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $10.60.

Grid Dynamics Stock Performance

Shares of NASDAQ:GDYN opened at $5.72 on Friday. The stock’s 50-day simple moving average is $7.05 and its two-hundred day simple moving average is $8.07. The stock has a market capitalization of $488.22 million, a price-to-earnings ratio of 57.20 and a beta of 0.84. Grid Dynamics Holdings, Inc. has a 52-week low of $5.50 and a 52-week high of $16.80.

Grid Dynamics (NASDAQ:GDYN) last released its quarterly earnings results on Thursday, March 5th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.09 by $0.01. Grid Dynamics had a net margin of 2.35% and a return on equity of 1.46%. The firm had revenue of $106.15 million during the quarter, compared to analyst estimates of $105.92 million. During the same quarter in the prior year, the firm earned $0.12 EPS. The business’s revenue for the quarter was up 5.9% compared to the same quarter last year. As a group, equities analysts forecast that Grid Dynamics Holdings, Inc. will post 0.18 earnings per share for the current fiscal year.

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.