CenterBook Partners LP Decreases Stake in Grid Dynamics Holdings, Inc. $GDYN

CenterBook Partners LP lowered its stake in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 70.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 319,731 shares of the company’s stock after selling 774,970 shares during the period. CenterBook Partners LP’s holdings in Grid Dynamics were worth $2,887,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. WINTON GROUP Ltd purchased a new position in shares of Grid Dynamics in the fourth quarter worth $1,592,000. 1492 Capital Management LLC raised its holdings in shares of Grid Dynamics by 40.8% in the fourth quarter. 1492 Capital Management LLC now owns 809,951 shares of the company’s stock worth $7,314,000 after buying an additional 234,694 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Grid Dynamics by 1.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 612,972 shares of the company’s stock worth $5,535,000 after buying an additional 10,616 shares during the last quarter. AXQ Capital LP purchased a new position in shares of Grid Dynamics in the fourth quarter worth $135,000. Finally, P.A.W. Capital Corp purchased a new position in shares of Grid Dynamics in the fourth quarter worth $903,000. Hedge funds and other institutional investors own 71.18% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on GDYN shares. Zacks Research raised shares of Grid Dynamics from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 6th. Northland Securities decreased their price target 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. Citigroup reaffirmed a “cautious” rating on shares of Grid Dynamics in a report on Friday, May 29th. Weiss Ratings cut shares of Grid Dynamics from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, May 4th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Grid Dynamics from $10.00 to $9.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 18th. Four research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Grid Dynamics has a consensus rating of “Hold” and an average target price of $9.40.

Grid Dynamics Price Performance

NASDAQ:GDYN opened at $6.47 on Tuesday. The firm has a market capitalization of $541.09 million, a P/E ratio of 129.43 and a beta of 0.94. Grid Dynamics Holdings, Inc. has a 1-year low of $5.13 and a 1-year high of $12.86. The company’s fifty day moving average price is $6.29 and its 200-day moving average price is $7.44.

Grid Dynamics (NASDAQ:GDYN) last released its quarterly earnings data 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. The firm had revenue of $104.10 million for the quarter, compared to analyst estimates of $103.32 million. Grid Dynamics had a net margin of 1.27% and a return on equity of 1.20%. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.11 earnings per share. Equities analysts anticipate that Grid Dynamics Holdings, Inc. will post 0.1 EPS for the current fiscal year.

Insider Buying and Selling

In related news, COO Yury Gryzlov sold 4,435 shares of the firm’s stock in a transaction 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 sale, the chief operating officer owned 514,948 shares in the company, valued at approximately $4,119,584. This trade represents a 0.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 in the last quarter. 6.50% of the stock is currently owned by company insiders.

Grid Dynamics Company Profile

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.