Riverbridge Partners LLC Sells 66,519 Shares of Grid Dynamics Holdings, Inc. $GDYN

Riverbridge Partners LLC reduced its position in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 6.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 919,931 shares of the company’s stock after selling 66,519 shares during the quarter. Riverbridge Partners LLC’s holdings in Grid Dynamics were worth $7,249,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Bank of America Corp DE grew its holdings in Grid Dynamics by 76.4% during the 1st quarter. Bank of America Corp DE now owns 364,342 shares of the company’s stock worth $2,077,000 after acquiring an additional 157,767 shares in the last quarter. Pacer Advisors Inc. purchased a new position in Grid Dynamics during the 1st quarter valued at about $884,000. Walleye Capital LLC purchased a new position in Grid Dynamics during the 1st quarter valued at about $1,007,000. Quantinno Capital Management LP increased its position in Grid Dynamics by 460.4% during the 1st quarter. Quantinno Capital Management LP now owns 206,289 shares of the company’s stock valued at $1,176,000 after purchasing an additional 169,477 shares during the period. Finally, Squarepoint Ops LLC bought a new stake in shares of Grid Dynamics in the 2nd quarter valued at about $2,702,000. 71.18% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

GDYN has been the subject of several research reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Grid Dynamics in a research report on Thursday, October 29th. TD Cowen increased their price objective on shares of Grid Dynamics from $9.00 to $13.00 and gave the company a “buy” rating in a research note on Friday, October 30th. Needham & Company LLC lifted their price objective on shares of Grid Dynamics from $10.00 to $15.00 and gave the company a “buy” rating in a report on Friday, October 30th. Zacks Research lowered shares of Grid Dynamics from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 15th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Grid Dynamics from $8.00 to $11.00 and gave the stock an “overweight” rating in a research note on Friday, October 30th. Four equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Grid Dynamics currently has a consensus rating of “Hold” and a consensus target price of $11.80.

Insiders Place Their Bets

In other Grid Dynamics news, CFO Anil Doradla sold 20,000 shares of the stock in a transaction dated Friday, October 30th. The shares were sold at an average price of $10.51, for a total transaction of $210,200.00. Following the completion of the sale, the chief financial officer directly owned 374,509 shares of the company’s stock, valued at approximately $3,936,089.59. This represents a 5.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Yury Gryzlov sold 10,512 shares of the stock in a transaction dated Friday, October 30th. The shares were sold at an average price of $10.51, for a total transaction of $110,481.12. Following the sale, the chief operating officer directly owned 484,778 shares of the company’s stock, valued at approximately $5,095,016.78. The trade was a 2.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 118,339 shares of company stock worth $1,407,567. 6.50% of the stock is owned by corporate insiders.

Grid Dynamics Price Performance

Shares of NASDAQ GDYN opened at $14.06 on Wednesday. The stock has a market capitalization of $1.13 billion, a P/E ratio of 156.22 and a beta of 0.88. Grid Dynamics Holdings, Inc. has a 1-year low of $5.11 and a 1-year high of $14.07. The business has a fifty day moving average price of $8.91 and a 200 day moving average price of $7.15.

Grid Dynamics (NASDAQ:GDYN) last issued its quarterly earnings data on Thursday, October 29th. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.05. Grid Dynamics had a return on equity of 3.24% and a net margin of 1.81%. The company had revenue of $114.29 million for the quarter, compared to the consensus estimate of $112.77 million. As a group, equities research analysts anticipate that Grid Dynamics Holdings, Inc. will post 0.26 earnings per share for the current fiscal year.

Grid Dynamics News Roundup

Here are the key news stories impacting Grid Dynamics this week:

• Positive Sentiment: Grid Dynamics was highlighted among stocks showing recent price strength alongside improving earnings estimates, which may be reinforcing investor momentum. Zacks article
• Positive Sentiment: Recent analyst actions included price-target increases from TD Cowen, Needham and JPMorgan, with each maintaining a positive rating. The company’s latest reported quarterly EPS and revenue also topped consensus estimates, providing a fundamental backdrop for the stock’s strength.
• Neutral Sentiment: A report listed short interest at zero shares, suggesting no reported short position to drive potential short-covering. The article’s claim of a significant increase conflicts with that zero figure, so the data should be treated cautiously.
• Negative Sentiment: Director Lloyd Carney reported multiple stock sales, and CFO Anil Doradla sold 1,500 shares. The CFO’s sale was made under a prearranged Rule 10b5-1 plan, and both executives retained substantial holdings; still, insider selling may temper sentiment. Director SEC filing CFO SEC filing
• Negative Sentiment: The reported analyst consensus target of $11.80 is below the recent trading level, a possible valuation headwind despite several firms’ target hikes.

Grid Dynamics Profile

Grid Dynamics Holdings, Inc. is a digital engineering and technology consulting company that helps businesses develop and modernize software, data platforms and digital products. Its services include cloud and data engineering, artificial intelligence and machine learning, application development, and digital commerce solutions. The company works with clients across industries to support technology strategy and implementation, including the design, development and operation of digital systems. Grid Dynamics was founded in 2006 and is headquartered in San Ramon, California, with delivery and client operations spanning North America, Europe and Asia.