1,134,450 Shares in Grid Dynamics Holdings, Inc. $GDYN Acquired by Bastion Asset Management Inc.

Bastion Asset Management Inc. bought a new position in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) in the first quarter, HoldingsChannel.com reports. The institutional investor bought 1,134,450 shares of the company’s stock, valued at approximately $6,899,000. Grid Dynamics accounts for approximately 2.1% of Bastion Asset Management Inc.’s investment portfolio, making the stock its 15th largest position.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Illinois Municipal Retirement Fund grew its position in shares of Grid Dynamics by 10.0% during the 1st quarter. Illinois Municipal Retirement Fund now owns 34,472 shares of the company’s stock worth $196,000 after buying an additional 3,143 shares during the period. Principal Financial Group Inc. boosted its stake in Grid Dynamics by 2.4% during the first quarter. Principal Financial Group Inc. now owns 323,773 shares of the company’s stock worth $1,846,000 after acquiring an additional 7,548 shares in the last quarter. Fifth Third Bancorp boosted its stake in Grid Dynamics by 1,209.4% during the first quarter. Fifth Third Bancorp now owns 33,940 shares of the company’s stock worth $193,000 after acquiring an additional 31,348 shares in the last quarter. Aaron Wealth Advisors LLC acquired a new stake in Grid Dynamics in the first quarter worth $98,000. Finally, Louisiana State Employees Retirement System acquired a new stake in Grid Dynamics in the first quarter worth $167,000. 71.18% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

GDYN has been the topic of several research reports. Zacks Research upgraded shares of Grid Dynamics from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 6th. Weiss Ratings downgraded Grid Dynamics from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, May 4th. Needham & Company LLC decreased their target price on Grid Dynamics from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Friday, May 1st. TD Cowen decreased their target price on Grid Dynamics from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Thursday, July 9th. Finally, Citigroup reaffirmed a “cautious” rating on shares of Grid Dynamics in a research note on Friday, May 29th. Four analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $9.00.

Insiders Place Their Bets

In related 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 transaction, the chief operating officer owned 514,948 shares of the company’s stock, valued at approximately $4,119,584. This trade represents a 0.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 6,147 shares of company stock valued at $46,323. 6.50% of the stock is currently owned by company insiders.

Grid Dynamics Trading Up 1.0%

NASDAQ GDYN opened at $5.80 on Friday. The company has a fifty day simple moving average of $6.34 and a 200 day simple moving average of $6.78. Grid Dynamics Holdings, Inc. has a 12-month low of $5.11 and a 12-month high of $11.24. The company has a market cap of $485.05 million, a P/E ratio of 116.02 and a beta of 0.98.

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 the consensus estimate of $0.08 by $0.01. The firm had revenue of $104.10 million for the quarter, compared to the consensus estimate of $103.32 million. Grid Dynamics had a net margin of 1.27% and a return on equity of 1.20%. The business’s revenue was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.11 earnings per share. Sell-side analysts predict that Grid Dynamics Holdings, Inc. will post 0.1 EPS for the current year.

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.