Driehaus Capital Management LLC Purchases 205,634 Shares of Grid Dynamics Holdings, Inc. $GDYN

Key Points

• Driehaus Capital Management LLC increased its stake in Grid Dynamics by 23.5%, acquiring an additional 205,634 shares, bringing its total holdings to approximately 1.08 million shares valued at $16.91 million.
• Several institutional investors, including the New York State Teachers Retirement System and SG Americas Securities LLC, have raised their positions in Grid Dynamics, with 71.18% of the stock now owned by institutional investors.
• Analysts have recently adjusted their outlook on Grid Dynamics, with JPMorgan Chase lowering its price target from $13.00 to $11.00, while others like Needham & Company reduced their target from $20.00 to $15.00.

Driehaus Capital Management LLC raised its position in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) by 23.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,080,536 shares of the company's stock after purchasing an additional 205,634 shares during the quarter. Driehaus Capital Management LLC owned approximately 1.29% of Grid Dynamics worth $16,910,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GDYN. Wells Fargo & Company MN grew its stake in Grid Dynamics by 39.3% in the fourth quarter. Wells Fargo & Company MN now owns 32,533 shares of the company's stock valued at $724,000 after purchasing an additional 9,182 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Grid Dynamics by 1.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,816,447 shares of the company's stock valued at $40,399,000 after purchasing an additional 17,881 shares in the last quarter. MetLife Investment Management LLC grew its stake in Grid Dynamics by 5.7% in the fourth quarter. MetLife Investment Management LLC now owns 35,126 shares of the company's stock valued at $781,000 after purchasing an additional 1,884 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in Grid Dynamics by 120.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 11,675 shares of the company's stock valued at $260,000 after purchasing an additional 6,389 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Grid Dynamics by 24.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 34,917 shares of the company's stock worth $777,000 after acquiring an additional 6,815 shares in the last quarter. Hedge funds and other institutional investors own 71.18% of the company's stock.

Wall Street Analyst Weigh In

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

Grid Dynamics Trading Down 4.3%

NASDAQ:GDYN traded down $0.35 during mid-day trading on Thursday, hitting $7.86. 1,622,107 shares of the company's stock traded hands, compared to its average volume of 1,280,614. The firm has a 50 day moving average of $9.50 and a two-hundred day moving average of $12.93. Grid Dynamics Holdings, Inc. has a 12 month low of $7.46 and a 12 month high of $25.50. The firm has a market capitalization of $665.51 million, a price-to-earnings ratio of 41.37 and a beta of 1.03.

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