Grid Dynamics Holdings, Inc. $GDYN Position Boosted by JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. increased its stake in Grid Dynamics by 271.1% in Q3 to 513,677 shares (about $3.96M), representing roughly 0.61% of the company.
• Other institutions including Goldman Sachs, UBS and AQR also boosted positions, and institutional investors now own 71.18% of the outstanding stock.
• Analysts show a consensus of "Moderate Buy" with an average price target of $10.60; the company posted a slight EPS beat and 5.9% revenue growth, while the stock trades around $5.77, well below analyst targets and its 52‑week high of $15.32.

JPMorgan Chase & Co. grew its position in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) by 271.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 513,677 shares of the company's stock after buying an additional 375,254 shares during the period. JPMorgan Chase & Co. owned about 0.61% of Grid Dynamics worth $3,960,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in GDYN. Amundi bought a new position in Grid Dynamics during the first quarter worth $252,000. AQR Capital Management LLC increased its stake in Grid Dynamics by 32.4% during the first quarter. AQR Capital Management LLC now owns 15,484 shares of the company's stock valued at $242,000 after purchasing an additional 3,791 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Grid Dynamics by 12.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,590 shares of the company's stock worth $573,000 after purchasing an additional 4,116 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Grid Dynamics by 12.4% during the first quarter. Goldman Sachs Group Inc. now owns 319,186 shares of the company's stock worth $4,995,000 after purchasing an additional 35,204 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Grid Dynamics by 35.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 162,714 shares of the company's stock worth $2,546,000 after buying an additional 42,801 shares during the last quarter. Institutional investors and hedge funds own 71.18% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Grid Dynamics from $10.00 to $9.00 and set an "overweight" rating for the company in a research report on Wednesday, February 18th. TD Cowen decreased their target price on Grid Dynamics from $12.00 to $11.00 and set a "buy" rating for the company in a research note on Friday, March 6th. Zacks Research lowered Grid Dynamics from a "hold" rating to a "strong sell" rating in a report on Monday, March 9th. Needham & Company LLC dropped their price target on Grid Dynamics from $13.00 to $10.00 and set a "buy" rating on the stock in a research report on Friday, March 6th. Finally, Weiss Ratings restated a "hold (c-)" rating on shares of Grid Dynamics in a research report on Monday, March 23rd. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Grid Dynamics currently has an average rating of "Moderate Buy" and an average price target of $10.60.

Grid Dynamics Stock Performance

Shares of NASDAQ:GDYN opened at $5.77 on Friday. The firm's 50 day moving average is $6.67 and its two-hundred day moving average is $7.98. The firm has a market capitalization of $492.47 million, a P/E ratio of 57.70 and a beta of 0.88. Grid Dynamics Holdings, Inc. has a 52 week low of $5.48 and a 52 week high of $15.32.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) last released its quarterly earnings results on Thursday, March 5th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.01. The company had revenue of $106.15 million during the quarter, compared to analysts' expectations of $105.92 million. Grid Dynamics had a return on equity of 1.46% and a net margin of 2.35%.The company's revenue for the quarter was up 5.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.12 earnings per share. Analysts predict that Grid Dynamics Holdings, Inc. will post 0.18 EPS for the current year.

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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