1492 Capital Management LLC Purchases 234,694 Shares of Grid Dynamics Holdings, Inc. $GDYN

1492 Capital Management LLC boosted its position in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 40.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 809,951 shares of the company’s stock after purchasing an additional 234,694 shares during the period. Grid Dynamics comprises about 2.8% of 1492 Capital Management LLC’s investment portfolio, making the stock its 5th biggest position. 1492 Capital Management LLC’s holdings in Grid Dynamics were worth $7,314,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Hantz Financial Services Inc. boosted its holdings 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 worth $29,000 after acquiring an additional 2,057 shares in the last quarter. GAMMA Investing LLC increased its holdings in Grid Dynamics by 273.2% during the 4th quarter. GAMMA Investing LLC now owns 3,598 shares of the company’s stock valued at $32,000 after purchasing an additional 2,634 shares in the last quarter. Canada Pension Plan Investment Board bought a new position in Grid Dynamics in the 2nd quarter valued at $43,000. SBI Securities Co. Ltd. bought a new position in Grid Dynamics in the 3rd quarter valued at $31,000. Finally, Quarry LP boosted its stake in 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 purchasing an additional 1,757 shares in the last quarter. 71.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

GDYN has been the topic of several research reports. Weiss Ratings downgraded shares of Grid Dynamics from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, May 4th. Northland Securities dropped their target price on shares of Grid Dynamics from $14.00 to $12.00 and set an “outperform” rating for the company in a research note on Monday, March 9th. Citigroup reiterated a “cautious” rating on shares of Grid Dynamics in a research report on Friday, May 29th. Zacks Research raised shares of Grid Dynamics from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 6th. Finally, Needham & Company LLC lowered their price target on shares of Grid Dynamics from $10.00 to $8.00 and set a “buy” rating for the company in a report on Friday, May 1st. Four investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $9.40.

Grid Dynamics Trading Down 6.1%

Shares of NASDAQ GDYN opened at $7.04 on Thursday. Grid Dynamics Holdings, Inc. has a 1 year low of $5.13 and a 1 year high of $12.86. The firm’s 50-day moving average is $6.23 and its 200-day moving average is $7.47. The firm has a market capitalization of $588.76 million, a PE ratio of 140.83 and a beta of 0.94.

Grid Dynamics (NASDAQ:GDYN) last posted its quarterly earnings results on Thursday, April 30th. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. Grid Dynamics had a net margin of 1.27% and a return on equity of 1.20%. The business had revenue of $104.10 million during the quarter, compared to the consensus estimate of $103.32 million. During the same period in the previous year, the firm posted $0.11 earnings per share. Grid Dynamics’s revenue for the quarter was up 3.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Grid Dynamics Holdings, Inc. will post 0.1 earnings per share for the current fiscal year.

Insider Activity at Grid Dynamics

In other news, COO Yury Gryzlov sold 4,435 shares of the stock in a transaction 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 transaction, the chief operating officer owned 514,948 shares of the company’s stock, valued at $4,119,584. This represents a 0.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 6,147 shares of company stock worth $45,389. 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.