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

Riverbridge Partners LLC lowered its holdings in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 18.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 1,427,409 shares of the company’s stock after selling 318,558 shares during the period. Riverbridge Partners LLC’s holdings in Grid Dynamics were worth $8,136,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. lifted its stake in Grid Dynamics by 50.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 5,193 shares of the company’s stock worth $47,000 after purchasing an additional 1,742 shares during the last quarter. Quarry LP increased its holdings in shares of Grid Dynamics by 57.1% in the third quarter. Quarry LP now owns 4,835 shares of the company’s stock worth $37,000 after buying an additional 1,757 shares during the period. Trust Point Inc. increased its holdings in shares of Grid Dynamics by 13.6% in the fourth quarter. Trust Point Inc. now owns 14,947 shares of the company’s stock worth $135,000 after buying an additional 1,785 shares during the period. Harbor Capital Advisors Inc. lifted its stake in shares of Grid Dynamics by 8.0% in the 4th quarter. Harbor Capital Advisors Inc. now owns 24,494 shares of the company’s stock valued at $221,000 after acquiring an additional 1,821 shares during the last quarter. Finally, Hantz Financial Services Inc. lifted its stake in shares of Grid Dynamics by 175.5% in the 4th quarter. Hantz Financial Services Inc. now owns 3,229 shares of the company’s stock valued at $29,000 after acquiring an additional 2,057 shares during the last quarter. Hedge funds and other institutional investors own 71.18% of the company’s stock.

Insider Buying and Selling at Grid Dynamics

In other news, COO Yury Gryzlov sold 4,435 shares of Grid Dynamics stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $8.00, for a total value of $35,480.00. Following the sale, the chief operating officer directly owned 514,948 shares in the company, valued at approximately $4,119,584. This trade represents a 0.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 6,147 shares of company stock valued at $45,389. 6.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

GDYN has been the subject of several analyst reports. Jefferies Financial Group cut 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. Northland Securities lowered their price objective on Grid Dynamics from $14.00 to $12.00 and set an “outperform” rating for the company in a research report on Monday, March 9th. TD Cowen dropped their price objective on Grid Dynamics from $11.00 to $10.00 and set a “buy” rating for the company in a research note on Friday, May 1st. Citigroup restated a “cautious” rating on shares of Grid Dynamics in a report on Friday, May 29th. Finally, Zacks Research upgraded shares of Grid Dynamics from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 6th. Four investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $9.40.

Grid Dynamics Trading Down 1.1%

Grid Dynamics stock opened at $5.42 on Wednesday. The firm has a market cap of $453.27 million, a P/E ratio of 108.42 and a beta of 0.94. Grid Dynamics Holdings, Inc. has a 1-year low of $5.13 and a 1-year high of $12.86. The firm has a 50-day moving average of $6.37 and a 200-day moving average of $7.23.

Grid Dynamics (NASDAQ:GDYN) last announced its quarterly earnings results on Thursday, April 30th. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.01. The company had revenue of $104.10 million for the quarter, compared to the consensus estimate of $103.32 million. Grid Dynamics had a return on equity of 1.20% and a net margin of 1.27%.Grid Dynamics’s revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.11 EPS. Research analysts forecast that Grid Dynamics Holdings, Inc. will post 0.1 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.