Goldman Sachs Group Inc. Acquires 35,204 Shares of Grid Dynamics Holdings, Inc. $GDYN

Key Points

• Goldman Sachs Group Inc. increased its holdings in Grid Dynamics Holdings, Inc. by 12.4%, now owning 319,186 shares worth approximately $4.995 million.
• Other institutional investors have also shown significant interest, with Caitong International Asset Management boosting its stake by 28,150% in the same quarter.
• Despite its positive performance, several analysts downgraded their ratings on Grid Dynamics, with target prices lowered, indicating potential challenges ahead.

Goldman Sachs Group Inc. boosted its stake in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) by 12.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 319,186 shares of the company's stock after purchasing an additional 35,204 shares during the quarter. Goldman Sachs Group Inc. owned about 0.38% of Grid Dynamics worth $4,995,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of GDYN. Caitong International Asset Management Co. Ltd raised its stake in 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 purchasing an additional 1,689 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in Grid Dynamics by 199.0% in the first quarter. PNC Financial Services Group Inc. now owns 2,293 shares of the company's stock valued at $36,000 after purchasing an additional 1,526 shares in the last quarter. USA Financial Formulas acquired a new position in Grid Dynamics in the first quarter valued at about $42,000. Cetera Investment Advisers raised its stake in 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 purchasing an additional 2,640 shares in the last quarter. Finally, Virtu Financial LLC acquired a new position in Grid Dynamics in the first quarter valued at about $183,000. Institutional investors and hedge funds own 71.18% of the company's stock.

Grid Dynamics Trading Down 3.1%

GDYN stock traded down $0.24 during trading on Friday, hitting $7.53. The company had a trading volume of 4,300,166 shares, compared to its average volume of 1,082,978. Grid Dynamics Holdings, Inc. has a one year low of $7.37 and a one year high of $25.50. The business has a 50-day moving average of $8.58 and a 200-day moving average of $11.99. The stock has a market cap of $637.57 million, a PE ratio of 39.63 and a beta of 1.03.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported $0.10 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $100.45 million. During the same period in the previous year, the firm earned $0.08 earnings per share. The company's revenue 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. Research analysts forecast that Grid Dynamics Holdings, Inc. will post 0.18 EPS for the current year.

Wall Street Analyst Weigh In

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

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.