CenterBook Partners LP Lowers Position in Grid Dynamics Holdings, Inc. $GDYN

CenterBook Partners LP trimmed its holdings in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 70.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 319,731 shares of the company’s stock after selling 774,970 shares during the period. CenterBook Partners LP owned about 0.38% of Grid Dynamics worth $2,887,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Alyeska Investment Group L.P. lifted its position in shares of Grid Dynamics by 236.9% in the 3rd quarter. Alyeska Investment Group L.P. now owns 4,290,786 shares of the company’s stock worth $33,082,000 after purchasing an additional 3,017,017 shares during the period. Jacobs Levy Equity Management Inc. bought a new position in shares of Grid Dynamics during the third quarter valued at approximately $8,854,000. Alliancebernstein L.P. boosted its stake in shares of Grid Dynamics by 123.9% during the second quarter. Alliancebernstein L.P. now owns 1,896,409 shares of the company’s stock valued at $21,904,000 after purchasing an additional 1,049,519 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Grid Dynamics by 611.2% during the third quarter. Ameriprise Financial Inc. now owns 851,848 shares of the company’s stock valued at $6,568,000 after purchasing an additional 732,065 shares in the last quarter. Finally, Qube Research & Technologies Ltd boosted its stake in shares of Grid Dynamics by 1,378.1% during the second quarter. Qube Research & Technologies Ltd now owns 726,862 shares of the company’s stock valued at $8,395,000 after purchasing an additional 677,688 shares in the last quarter. 71.18% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, COO Yury Gryzlov sold 4,435 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $8.00, for a total transaction of $35,480.00. Following the completion of the sale, 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 ownership of the stock. The transaction 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. Insiders have sold a total of 6,147 shares of company stock worth $45,389 over the last three months. Corporate insiders own 6.50% of the company’s stock.

Grid Dynamics Stock Down 1.2%

NASDAQ:GDYN opened at $6.47 on Tuesday. Grid Dynamics Holdings, Inc. has a 52 week low of $5.13 and a 52 week high of $12.86. The firm has a 50 day moving average of $6.29 and a 200 day moving average of $7.44. The stock has a market capitalization of $541.09 million, a price-to-earnings ratio of 129.43 and a beta of 0.94.

Grid Dynamics (NASDAQ:GDYN) last posted its earnings results on Thursday, April 30th. The company reported $0.09 EPS for the quarter, beating 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 company had revenue of $104.10 million during the quarter, compared to analysts’ expectations of $103.32 million. During the same quarter in the prior year, the company 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, analysts expect that Grid Dynamics Holdings, Inc. will post 0.1 EPS for the current year.

Wall Street Analyst Weigh In

GDYN has been the topic of a number of recent research reports. Zacks Research upgraded shares of Grid Dynamics from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 6th. Citigroup reiterated a “cautious” rating on shares of Grid Dynamics in a research note on Friday, May 29th. Needham & Company LLC dropped their price objective on shares of Grid Dynamics from $10.00 to $8.00 and set a “buy” rating on the stock in a research note on Friday, May 1st. TD Cowen dropped their price objective on shares of Grid Dynamics from $11.00 to $10.00 and set a “buy” rating on the stock in a research note on Friday, May 1st. Finally, Northland Securities dropped 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 note on Monday, March 9th. Four research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $9.40.

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.