94,051 Shares in Grid Dynamics Holdings, Inc. $GDYN Acquired by Cubist Systematic Strategies LLC

Key Points

• Cubist Systematic Strategies LLC has invested approximately $1.47 million in Grid Dynamics Holdings, Inc., acquiring 94,051 shares, which represents a 0.11% ownership stake.
• Several hedge funds, including Next Century Growth Investors LLC and American Century Companies Inc., have significantly increased their stakes in Grid Dynamics during the first quarter, collectively owning 71.18% of the company's stock.
• Grid Dynamics reported earnings of $0.10 per share for the quarter, meeting consensus estimates, with revenues rising 21.7% compared to last year, totaling $101.1 million.

Cubist Systematic Strategies LLC acquired a new stake in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 94,051 shares of the company's stock, valued at approximately $1,472,000. Cubist Systematic Strategies LLC owned 0.11% of Grid Dynamics at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Grid Dynamics by 28,150.0% in the first quarter. Caitong International Asset Management Co. Ltd now owns 1,695 shares of the company's stock valued at $27,000 after acquiring an additional 1,689 shares during the period. PNC Financial Services Group Inc. boosted its position in Grid Dynamics by 199.0% during the first quarter. PNC Financial Services Group Inc. now owns 2,293 shares of the company's stock worth $36,000 after purchasing an additional 1,526 shares in the last quarter. USA Financial Formulas acquired a new position in shares of Grid Dynamics during the 1st quarter worth approximately $42,000. Cetera Investment Advisers raised its position in shares of Grid Dynamics by 29.3% in the first quarter. Cetera Investment Advisers now owns 11,639 shares of the company's stock valued at $182,000 after buying an additional 2,640 shares during the last quarter. Finally, Virtu Financial LLC purchased a new position in shares of Grid Dynamics during the 1st quarter worth $183,000. Institutional investors and hedge funds own 71.18% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently commented on GDYN shares. Needham & Company LLC dropped their price target on shares of Grid Dynamics from $20.00 to $15.00 and set a "buy" rating for the company in a research report on Friday, August 1st. Wall Street Zen lowered shares of Grid Dynamics from a "buy" rating to a "hold" rating in a report on Sunday, July 20th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Grid Dynamics from $13.00 to $11.00 and set an "overweight" rating for the company in a research note on Wednesday, August 20th. Four analysts have rated the stock with a Buy rating, According to MarketBeat.com, Grid Dynamics has an average rating of "Buy" and a consensus target price of $15.75.

Grid Dynamics Stock Performance

Shares of Grid Dynamics stock traded up $0.21 during trading on Thursday, reaching $7.71. The company had a trading volume of 474,262 shares, compared to its average volume of 864,850. Grid Dynamics Holdings, Inc. has a fifty-two week low of $7.37 and a fifty-two week high of $25.50. The firm's fifty day moving average is $9.18 and its 200-day moving average is $12.56. The company has a market cap of $652.38 million, a price-to-earnings ratio of 40.55 and a beta of 1.03.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported $0.10 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.10. The firm had revenue of $101.10 million for the quarter, compared to analysts' expectations of $100.45 million. Grid Dynamics had a return on equity of 1.89% and a net margin of 4.37%.Grid Dynamics's revenue for the quarter was up 21.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.08 earnings per share. Grid Dynamics has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, research analysts anticipate that Grid Dynamics Holdings, Inc. will post 0.18 EPS for the current fiscal year.

Grid Dynamics Company Profile

Grid Dynamics Holdings, Inc, together with its subsidiaries, provides technology consulting, platform and product engineering, and analytics services in North America, Europe, and internationally. It offers cloud platform and product engineering services, such as architecting, designing, and building scalable and secure cloud-based platforms and business applications; and AI/machine learning and data platform engineering services that build platforms to facilitate batch and streaming data ingestion, quality governance, orchestration, semantic modeling, observability, and analysis at scale.