1492 Capital Management LLC Sells 368,178 Shares of Grid Dynamics Holdings, Inc. $GDYN

Key Points

• 1492 Capital Management cut its stake in Grid Dynamics by 45.5% in the first quarter, selling 368,178 shares and ending with 441,773 shares worth about $2.52 million.
• Grid Dynamics reported better-than-expected quarterly results, posting EPS of $0.09 versus the $0.08 estimate and revenue of $104.1 million, up 3.7% year over year.
• Analyst sentiment is mixed, with the stock carrying a Hold consensus rating and an average price target of $9.40, while the shares recently traded near $5.47, close to their 52-week low.

1492 Capital Management LLC lowered its position in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) by 45.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 441,773 shares of the company's stock after selling 368,178 shares during the quarter. 1492 Capital Management LLC owned 0.52% of Grid Dynamics worth $2,518,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Alyeska Investment Group L.P. boosted its holdings in shares of Grid Dynamics by 236.9% during the third quarter. Alyeska Investment Group L.P. now owns 4,290,786 shares of the company's stock worth $33,082,000 after acquiring an additional 3,017,017 shares during the period. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Grid Dynamics during the 3rd quarter worth approximately $8,854,000. Alliancebernstein L.P. increased its stake in Grid Dynamics by 123.9% in the second quarter. Alliancebernstein L.P. now owns 1,896,409 shares of the company's stock valued at $21,904,000 after acquiring an additional 1,049,519 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its stake in Grid Dynamics by 4,907,857.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,030,671 shares of the company's stock valued at $9,307,000 after acquiring an additional 1,030,650 shares during the last quarter. Finally, Fourth Sail Capital LP raised its position in Grid Dynamics by 36.2% during the fourth quarter. Fourth Sail Capital LP now owns 3,827,968 shares of the company's stock valued at $34,567,000 after purchasing an additional 1,016,563 shares in the last quarter. 71.18% of the stock is owned by institutional investors.

Grid Dynamics Price Performance

Shares of Grid Dynamics stock opened at $5.47 on Friday. The business has a 50-day simple moving average of $6.35 and a 200 day simple moving average of $7.16. Grid Dynamics Holdings, Inc. has a one year low of $5.11 and a one year high of $12.86. The firm has a market capitalization of $457.46 million, a price-to-earnings ratio of 109.42 and a beta of 0.94.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.01. The business had revenue of $104.10 million for the quarter, compared to analyst estimates of $103.32 million. Grid Dynamics had a return on equity of 1.20% and a net margin of 1.27%.The company's quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.11 earnings per share. On average, sell-side analysts expect that Grid Dynamics Holdings, Inc. will post 0.1 EPS for the current year.

Insider Transactions at Grid Dynamics

In other news, COO Yury Gryzlov sold 4,435 shares of Grid Dynamics stock in a transaction on Monday, June 1st. The stock was sold at an average price of $8.00, for a total transaction of $35,480.00. Following the sale, the chief operating officer directly owned 514,948 shares in the company, valued at $4,119,584. The trade was a 0.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 6,147 shares of company stock valued at $45,389. Corporate insiders own 6.50% of the company's stock.

Analyst Ratings Changes

A number of research analysts have issued reports on GDYN shares. Northland Securities decreased their target price on Grid Dynamics from $14.00 to $12.00 and set an "outperform" rating on the stock in a research report on Monday, March 9th. Weiss Ratings downgraded shares of Grid Dynamics from a "sell (d+)" rating to a "sell (d)" rating in a research note on Monday, May 4th. Needham & Company LLC lowered their price objective on shares of Grid Dynamics from $10.00 to $8.00 and set a "buy" rating for the company in a research report on Friday, May 1st. Jefferies Financial Group lowered shares of Grid Dynamics from a "buy" rating to a "hold" rating and set a $8.00 target price on the stock. in a research report on Friday, May 29th. Finally, Citigroup reiterated a "cautious" rating on shares of Grid Dynamics in a report on Friday, May 29th. Four 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $9.40.

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.

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