Grid Dynamics Holdings, Inc. $GDYN is 1492 Capital Management LLC's 5th Largest Position

Key Points

• 1492 Capital Management boosted its Grid Dynamics stake by 40.8% in the fourth quarter, making GDYN its 5th-largest holding. The fund now owns 809,951 shares, worth about $7.3 million.
• Insider selling was reported, with COO Yury Gryzlov selling 4,435 shares at $8.00 each under a pre-arranged trading plan. Insiders have sold 6,147 shares total over the last three months.
• Grid Dynamics shares fell 6.1% to open at $7.04, even after its latest quarterly results beat EPS and revenue estimates. Analyst sentiment remains mixed, with an average rating of “Hold” and an average price target of $9.40.

1492 Capital Management LLC increased its holdings in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) by 40.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 809,951 shares of the company's stock after buying an additional 234,694 shares during the quarter. Grid Dynamics accounts for approximately 2.8% of 1492 Capital Management LLC's holdings, making the stock its 5th biggest position. 1492 Capital Management LLC owned approximately 0.96% of Grid Dynamics worth $7,314,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Grid Dynamics by 5.0% during the 4th quarter. Vanguard Group Inc. now owns 5,920,753 shares of the company's stock valued at $53,464,000 after purchasing an additional 279,995 shares in the last quarter. Wasatch Advisors LP grew its position in shares of Grid Dynamics by 2.5% in the second quarter. Wasatch Advisors LP now owns 4,669,558 shares of the company's stock valued at $53,933,000 after purchasing an additional 112,319 shares during the last quarter. Alyeska Investment Group L.P. grew its position in shares of Grid Dynamics by 236.9% in the third quarter. Alyeska Investment Group L.P. now owns 4,290,786 shares of the company's stock valued at $33,082,000 after purchasing an additional 3,017,017 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Grid Dynamics by 5.6% in the third quarter. Dimensional Fund Advisors LP now owns 1,985,557 shares of the company's stock worth $15,309,000 after purchasing an additional 105,950 shares during the period. Finally, Alliancebernstein L.P. lifted its position in shares of Grid Dynamics by 123.9% during the 2nd quarter. Alliancebernstein L.P. now owns 1,896,409 shares of the company's stock worth $21,904,000 after purchasing an additional 1,049,519 shares during the last quarter. 71.18% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Grid Dynamics

In related news, COO Yury Gryzlov sold 4,435 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $8.00, for a total value of $35,480.00. Following the completion of the transaction, the chief operating officer owned 514,948 shares of the company's stock, valued at $4,119,584. This represents a 0.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 6,147 shares of company stock valued at $45,389 over the last three months. Corporate insiders own 6.50% of the company's stock.

Grid Dynamics Trading Down 6.1%

Shares of NASDAQ GDYN opened at $7.04 on Thursday. The firm has a market capitalization of $588.76 million, a price-to-earnings ratio of 140.83 and a beta of 0.94. Grid Dynamics Holdings, Inc. has a one year low of $5.13 and a one year high of $12.86. The business has a fifty day simple moving average of $6.23 and a 200 day simple moving average of $7.47.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) last announced its quarterly 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. The firm had revenue of $104.10 million for the quarter, compared to analyst estimates of $103.32 million. Grid Dynamics had a net margin of 1.27% and a return on equity of 1.20%. The business's revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.11 EPS. On average, research analysts anticipate that Grid Dynamics Holdings, Inc. will post 0.1 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently weighed in on GDYN. Needham & Company LLC decreased their target price on Grid Dynamics from $10.00 to $8.00 and set a "buy" rating for the company in a research note on Friday, May 1st. Weiss Ratings downgraded Grid Dynamics from a "sell (d+)" rating to a "sell (d)" rating in a research report on Monday, May 4th. Northland Securities reduced their price objective on Grid Dynamics from $14.00 to $12.00 and set an "outperform" rating for the company in a research report on Monday, March 9th. Jefferies Financial Group downgraded 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. Finally, Zacks Research raised shares of Grid Dynamics from a "strong sell" rating to a "hold" rating in a research report on Wednesday, May 6th. Four equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $9.40.

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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