Grid Dynamics Holdings, Inc. $GDYN Position Cut by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors cut its Grid Dynamics position by 20.9% in the first quarter, selling 370,415 shares and retaining 1.4 million shares worth about $8.0 million. Institutional investors collectively own 71.18% of GDYN.
• Grid Dynamics reported quarterly revenue of $108.16 million and EPS of $0.11, exceeding analyst estimates of $106.55 million and $0.10, respectively.
• Analyst sentiment is broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $9.40, compared with the stock’s reported price of $7.66.

Dimensional Fund Advisors LP decreased its position in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) by 20.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,400,209 shares of the company's stock after selling 370,415 shares during the quarter. Dimensional Fund Advisors LP owned about 1.64% of Grid Dynamics worth $7,981,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of GDYN. Amundi bought a new position in Grid Dynamics in the 1st quarter worth about $252,000. AQR Capital Management LLC boosted its position in Grid Dynamics by 32.4% during the 1st quarter. AQR Capital Management LLC now owns 15,484 shares of the company's stock worth $242,000 after acquiring an additional 3,791 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Grid Dynamics by 12.7% in 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 in the last quarter. Goldman Sachs Group Inc. increased 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 valued at $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 holdings in Grid Dynamics by 35.7% in the first 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 purchasing an additional 42,801 shares during the period. Institutional investors and hedge funds own 71.18% of the company's stock.

Insider Transactions at Grid Dynamics

In other Grid Dynamics news, COO Yury Gryzlov sold 4,435 shares of the company's stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $8.00, for a total transaction of $35,480.00. Following the completion of the sale, the chief operating officer directly owned 514,948 shares of the company's stock, valued at approximately $4,119,584. This represents a 0.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 6,147 shares of company stock worth $46,323. 6.50% of the stock is currently owned by insiders.

Grid Dynamics Stock Up 1.1%

GDYN opened at $7.66 on Tuesday. The firm has a market cap of $621.46 million, a PE ratio of 383.19 and a beta of 0.91. The business has a fifty day simple moving average of $6.21 and a 200-day simple moving average of $6.45. Grid Dynamics Holdings, Inc. has a fifty-two week low of $5.11 and a fifty-two week high of $10.21.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) last announced its earnings results on Thursday, July 30th. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.10 by $0.01. Grid Dynamics had a return on equity of 1.90% and a net margin of 0.68%.The company had revenue of $108.16 million for the quarter, compared to analyst estimates of $106.55 million. On average, equities research analysts anticipate that Grid Dynamics Holdings, Inc. will post 0.13 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Zacks Research raised shares of Grid Dynamics from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 5th. Needham & Company LLC upped their price target on shares of Grid Dynamics from $8.00 to $10.00 and gave the stock a "buy" rating in a research note on Friday, July 31st. TD Cowen increased their price objective on shares of Grid Dynamics from $8.00 to $9.00 and gave the company a "buy" rating in a report on Friday, July 31st. Weiss Ratings reiterated a "sell (d)" rating on shares of Grid Dynamics in a research note on Friday, July 31st. Finally, JPMorgan Chase & Co. boosted their target price on Grid Dynamics from $7.00 to $8.00 and gave the stock an "overweight" rating in a report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus 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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