Jennison Associates LLC Buys 129,961 Shares of Grid Dynamics Holdings, Inc. $GDYN

Jennison Associates LLC raised its stake in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 7.1% during the second quarter, HoldingsChannel.com reports. The fund owned 1,966,828 shares of the company’s stock after purchasing an additional 129,961 shares during the quarter. Jennison Associates LLC’s holdings in Grid Dynamics were worth $22,717,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Arizona State Retirement System boosted its position in shares of Grid Dynamics by 7.4% during the 1st quarter. Arizona State Retirement System now owns 19,109 shares of the company’s stock valued at $299,000 after acquiring an additional 1,324 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Grid Dynamics by 199.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,293 shares of the company’s stock valued at $36,000 after acquiring an additional 1,526 shares during the last quarter. Corebridge Financial Inc. increased its holdings in shares of Grid Dynamics by 5.2% in the 1st quarter. Corebridge Financial Inc. now owns 32,159 shares of the company’s stock worth $503,000 after buying an additional 1,583 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its holdings in shares of Grid Dynamics by 28,150.0% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,695 shares of the company’s stock worth $27,000 after buying an additional 1,689 shares during the last quarter. Finally, Cetera Investment Advisers increased its holdings in shares of Grid Dynamics by 29.3% in the 1st quarter. Cetera Investment Advisers now owns 11,639 shares of the company’s stock worth $182,000 after buying an additional 2,640 shares during the last quarter. 71.18% of the stock is currently owned by institutional investors.

Grid Dynamics Trading Down 6.2%

GDYN stock opened at $7.60 on Friday. Grid Dynamics Holdings, Inc. has a 12 month low of $7.37 and a 12 month high of $25.50. The company has a 50-day moving average price of $7.93 and a 200 day moving average price of $10.37. The stock has a market cap of $643.49 million, a PE ratio of 40.00 and a beta of 1.04.

Grid Dynamics (NASDAQ:GDYN) last released its quarterly earnings results on Thursday, October 30th. The company reported $0.09 EPS for the quarter, hitting analysts’ consensus estimates of $0.09. Grid Dynamics had a net margin of 4.37% and a return on equity of 1.89%. The firm had revenue of $104.16 million during the quarter, compared to analysts’ expectations of $103.64 million. During the same period in the previous year, the company earned $0.14 EPS. The firm’s revenue for the quarter was up 19.1% compared to the same quarter last year. Grid Dynamics has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. Sell-side analysts forecast that Grid Dynamics Holdings, Inc. will post 0.18 EPS for the current year.

Analyst Ratings Changes

GDYN has been the topic of a number of research reports. Jefferies Financial Group initiated coverage on shares of Grid Dynamics in a report on Monday, September 22nd. They issued a “buy” rating and a $11.00 target price on the stock. Wall Street Zen downgraded shares of Grid Dynamics from a “buy” rating to a “hold” rating in a report on Sunday, July 20th. Needham & Company LLC restated a “buy” rating and issued a $15.00 target price on shares of Grid Dynamics in a report on Thursday, September 25th. Weiss Ratings restated a “sell (d+)” rating on shares of Grid Dynamics in a report on Wednesday, October 8th. Finally, Zacks Research upgraded shares of Grid Dynamics from a “strong sell” rating to a “hold” rating in a report on Monday, October 6th. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $14.00.

About Grid Dynamics

Grid Dynamics Holdings, Inc, together with its subsidiaries, provides technology consulting, platform and product engineering, and analytics services in North America, Europe, and internationally. It offers cloud platform and product engineering services, such as architecting, designing, and building scalable and secure cloud-based platforms and business applications; and AI/machine learning and data platform engineering services that build platforms to facilitate batch and streaming data ingestion, quality governance, orchestration, semantic modeling, observability, and analysis at scale.