Royal Bank of Canada Sells 259,119 Shares of Grid Dynamics Holdings, Inc. $GDYN

Royal Bank of Canada cut its stake in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 16.5% during the first quarter, HoldingsChannel.com reports. The fund owned 1,312,624 shares of the company’s stock after selling 259,119 shares during the quarter. Royal Bank of Canada’s holdings in Grid Dynamics were worth $7,482,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of GDYN. Hantz Financial Services Inc. boosted its holdings in shares of Grid Dynamics by 175.5% in the fourth quarter. Hantz Financial Services Inc. now owns 3,229 shares of the company’s stock valued at $29,000 after purchasing an additional 2,057 shares during the period. Canada Pension Plan Investment Board bought a new position in Grid Dynamics in the second quarter worth approximately $43,000. Quarry LP increased its holdings in Grid Dynamics by 57.1% during the 3rd quarter. Quarry LP now owns 4,835 shares of the company’s stock worth $37,000 after purchasing an additional 1,757 shares during the period. PNC Financial Services Group Inc. increased its holdings in Grid Dynamics by 50.5% during the 4th 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 period. Finally, Tower Research Capital LLC TRC raised its position in Grid Dynamics by 208.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,213 shares of the company’s stock valued at $72,000 after purchasing an additional 4,197 shares in the last quarter. 71.18% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Grid Dynamics

In other news, COO Yury Gryzlov sold 4,435 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 6,147 shares of company stock worth $46,323 over the last ninety days. Corporate insiders own 6.50% of the company’s stock.

Grid Dynamics Trading Up 1.1%

GDYN opened at $7.66 on Tuesday. The firm has a market cap of $621.46 million, a price-to-earnings ratio of 383.19 and a beta of 0.91. Grid Dynamics Holdings, Inc. has a 12 month low of $5.11 and a 12 month high of $10.21. The stock has a fifty day moving average price of $6.21 and a 200-day moving average price of $6.45.

Grid Dynamics (NASDAQ:GDYN) last issued its quarterly earnings data on Thursday, July 30th. The company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.01. Grid Dynamics had a return on equity of 1.90% and a net margin of 0.68%.The company had revenue of $108.16 million for the quarter, compared to the consensus estimate of $106.55 million. On average, equities research analysts forecast that Grid Dynamics Holdings, Inc. will post 0.13 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Zacks Research upgraded Grid Dynamics from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 5th. JPMorgan Chase & Co. raised their price target on Grid Dynamics from $7.00 to $8.00 and gave the company an “overweight” rating in a research note on Friday, July 31st. TD Cowen upped their price objective on shares of Grid Dynamics from $8.00 to $9.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Needham & Company LLC upped their price objective on shares of Grid Dynamics from $8.00 to $10.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Finally, Jefferies Financial Group cut shares of Grid Dynamics from a “buy” rating to a “hold” rating and set a $8.00 target price on the stock. in a report on Friday, May 29th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average 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.