Banco BTG Pactual S.A. Purchases Shares of 285,000 Grid Dynamics Holdings, Inc. $GDYN

Key Points

• Banco BTG Pactual S.A. bought a new stake in Grid Dynamics, purchasing 285,000 shares worth about $2.57 million in the fourth quarter and ending with a 0.34% ownership position.
• Institutional ownership remains high, with hedge funds and other investors holding 71.18% of Grid Dynamics shares, while some firms recently increased their stakes significantly.
• Analyst sentiment is mixed: the stock has an average rating of Hold and an average price target of $9.40, with recent downgrades from Jefferies and price-target cuts from Northland and JPMorgan.

Banco BTG Pactual S.A. purchased a new stake in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 285,000 shares of the company's stock, valued at approximately $2,574,000. Banco BTG Pactual S.A. owned 0.34% of Grid Dynamics at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Hantz Financial Services Inc. increased its stake in shares of Grid Dynamics by 175.5% in the fourth quarter. Hantz Financial Services Inc. now owns 3,229 shares of the company's stock valued at $29,000 after purchasing an additional 2,057 shares during the period. GAMMA Investing LLC increased its stake in shares of Grid Dynamics by 273.2% in the fourth quarter. GAMMA Investing LLC now owns 3,598 shares of the company's stock valued at $32,000 after purchasing an additional 2,634 shares during the period. Canada Pension Plan Investment Board acquired a new stake in shares of Grid Dynamics in the second quarter valued at approximately $43,000. SBI Securities Co. Ltd. acquired a new stake in shares of Grid Dynamics in the third quarter valued at approximately $31,000. Finally, Quarry LP increased its stake in shares of Grid Dynamics by 57.1% in the third quarter. Quarry LP now owns 4,835 shares of the company's stock valued at $37,000 after purchasing an additional 1,757 shares during the period. Institutional investors and hedge funds own 71.18% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Northland Securities dropped their price target on shares of Grid Dynamics from $14.00 to $12.00 and set an "outperform" rating on the stock in a research note on Monday, March 9th. Jefferies Financial Group lowered shares of Grid Dynamics from a "buy" rating to a "hold" rating and set a $8.00 price objective on the stock. in a research note on Friday, May 29th. Weiss Ratings lowered shares of Grid Dynamics from a "sell (d+)" rating to a "sell (d)" rating in a research note on Monday, May 4th. Citigroup reiterated a "cautious" rating on shares of Grid Dynamics in a research note on Friday, May 29th. Finally, JPMorgan Chase & Co. lowered 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 equities research 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.com, the stock currently has an average rating of "Hold" and an average target price of $9.40.

Insiders Place Their Bets

In related news, COO Yury Gryzlov sold 4,435 shares of the firm's stock in a transaction that occurred 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 directly 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 6,147 shares of company stock worth $45,389 in the last ninety days. Company insiders own 6.50% of the company's stock.

Grid Dynamics Stock Performance

Shares of NASDAQ:GDYN opened at $6.43 on Friday. The stock has a market capitalization of $537.74 million, a price-to-earnings ratio of 128.63 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 has a 50 day moving average price of $6.32 and a 200 day moving average price of $7.39.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) last issued its earnings results 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 during the quarter, compared to analysts' expectations of $103.32 million. Grid Dynamics had a net margin of 1.27% and a return on equity of 1.20%. The firm's revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period last year, the firm posted $0.11 earnings per share. On average, sell-side analysts expect that Grid Dynamics Holdings, Inc. will post 0.1 EPS for the current fiscal year.

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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