1492 Capital Management LLC Reduces Stock Holdings in Grid Dynamics Holdings, Inc. $GDYN

1492 Capital Management LLC lowered its stake in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 45.5% during the 1st quarter, HoldingsChannel.com reports. The fund owned 441,773 shares of the company’s stock after selling 368,178 shares during the quarter. 1492 Capital Management LLC’s holdings in Grid Dynamics were worth $2,518,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. 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 valued at $33,082,000 after purchasing an additional 3,017,017 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in Grid Dynamics during the third quarter worth about $8,854,000. Alliancebernstein L.P. boosted its stake in Grid Dynamics by 123.9% during the second quarter. Alliancebernstein L.P. now owns 1,896,409 shares of the company’s stock worth $21,904,000 after acquiring an additional 1,049,519 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its holdings in Grid Dynamics by 4,907,857.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,030,671 shares of the company’s stock worth $9,307,000 after purchasing an additional 1,030,650 shares during the period. Finally, Fourth Sail Capital LP grew its holdings in Grid Dynamics by 36.2% in the fourth quarter. Fourth Sail Capital LP now owns 3,827,968 shares of the company’s stock worth $34,567,000 after purchasing an additional 1,016,563 shares during the period. Hedge funds and other institutional investors own 71.18% of the company’s stock.

Insider Transactions at Grid Dynamics

In other Grid Dynamics news, COO Yury Gryzlov sold 4,435 shares of the firm’s stock in a transaction dated 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 directly owned 514,948 shares of the company’s stock, valued at approximately $4,119,584. This trade represents a 0.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 6,147 shares of company stock valued at $45,389 over the last 90 days. Company insiders own 6.50% of the company’s stock.

Grid Dynamics Price Performance

NASDAQ GDYN opened at $5.47 on Friday. The stock has a market capitalization of $457.46 million, a price-to-earnings ratio of 109.42 and a beta of 0.94. Grid Dynamics Holdings, Inc. has a 1-year low of $5.11 and a 1-year high of $12.86. The business’s fifty day moving average price is $6.35 and its 200-day moving average price is $7.16.

Grid Dynamics (NASDAQ:GDYN) last issued its quarterly earnings data on Thursday, April 30th. The company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.08 by $0.01. The company had revenue of $104.10 million during the quarter, compared to analyst estimates 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 company posted $0.11 earnings per share. Equities research analysts anticipate that Grid Dynamics Holdings, Inc. will post 0.1 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on GDYN shares. Northland Securities lowered their target price on shares of Grid Dynamics from $14.00 to $12.00 and set an “outperform” rating for the company in a report on Monday, March 9th. TD Cowen reduced their price objective on Grid Dynamics from $11.00 to $10.00 and set a “buy” rating for the company in a research report on Friday, May 1st. Citigroup reiterated a “cautious” rating on shares of Grid Dynamics in a research note on Friday, May 29th. Needham & Company LLC dropped their target price on Grid Dynamics from $10.00 to $8.00 and set a “buy” rating on the stock in a report on Friday, May 1st. Finally, Zacks Research raised Grid Dynamics from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 6th. Four investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target 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.