176,600 Shares in Grid Dynamics Holdings, Inc. $GDYN Purchased by Walleye Capital LLC

Key Points

• Walleye Capital opened a new position in Grid Dynamics, buying 176,600 shares worth about $1.0 million in the first quarter, according to its latest SEC filing.
• Institutional ownership in GDYN remains high at 71.18%, and several other funds also increased or initiated stakes in the company recently.
• Analyst sentiment is mixed: Grid Dynamics has a Hold consensus rating with an average price target of $9.00, while recent reports included both upgrades and downgrades.

Walleye Capital LLC purchased a new stake in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 176,600 shares of the company's stock, valued at approximately $1,007,000. Walleye Capital LLC owned 0.21% of Grid Dynamics as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of GDYN. JPMorgan Chase & Co. lifted its stake in Grid Dynamics by 271.1% during the third quarter. JPMorgan Chase & Co. now owns 513,677 shares of the company's stock worth $3,960,000 after purchasing an additional 375,254 shares during the period. Banco BTG Pactual S.A. bought a new stake in shares of Grid Dynamics in the 4th quarter valued at approximately $2,574,000. 1492 Capital Management LLC raised its holdings in shares of Grid Dynamics by 40.8% in the 4th 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 in the last quarter. S Squared Technology LLC lifted its position in shares of Grid Dynamics by 109.3% during the 4th quarter. S Squared Technology LLC now owns 636,737 shares of the company's stock worth $5,750,000 after buying an additional 332,499 shares during the period. Finally, Vanguard Group Inc. boosted its stake in Grid Dynamics by 5.0% in the 4th quarter. Vanguard Group Inc. now owns 5,920,753 shares of the company's stock valued at $53,464,000 after buying an additional 279,995 shares in the last quarter. Institutional investors own 71.18% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Weiss Ratings lowered shares of Grid Dynamics from a "sell (d+)" rating to a "sell (d)" rating in a report on Monday, May 4th. Needham & Company LLC reduced their price target on shares of Grid Dynamics from $10.00 to $8.00 and set a "buy" rating on the stock in a research report on Friday, May 1st. Zacks Research raised shares of Grid Dynamics from a "strong sell" rating to a "hold" rating in a research note on Wednesday, May 6th. Citigroup reiterated a "cautious" rating on shares of Grid Dynamics in a research note on Friday, May 29th. Finally, Jefferies Financial Group downgraded 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. Four investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $9.00.

Grid Dynamics Trading Up 1.4%

Grid Dynamics stock opened at $5.69 on Friday. Grid Dynamics Holdings, Inc. has a 1 year low of $5.11 and a 1 year high of $10.60. The company has a market cap of $475.83 million, a PE ratio of 113.82 and a beta of 0.98. The company's 50-day moving average is $6.22 and its two-hundred day moving average is $6.66.

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

Insider Buying and Selling

In other Grid Dynamics news, COO Yury Gryzlov sold 4,435 shares of the company'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 completion of the sale, the chief operating officer owned 514,948 shares in the company, valued at approximately $4,119,584. The trade was a 0.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 6,147 shares of company stock worth $46,323. 6.50% of the stock is currently owned by insiders.

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.

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