Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Shares Acquired by Fourth Sail Capital LP

Key Points

• Fourth Sail Capital LP increased its holdings in Grid Dynamics by 52.3% during Q1, making it the firm's 10th largest position at approximately $16 million.
• Analysts have mixed views on Grid Dynamics, with Needham & Company lowering the target price from $20 to $15, but the average consensus remains a "Buy" with a target of $17.50.
• Grid Dynamics reported a revenue growth of 21.7% year-over-year for the last quarter, hitting the consensus earnings per share estimate of $0.10.

Fourth Sail Capital LP grew its holdings in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) by 52.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,024,269 shares of the company's stock after purchasing an additional 351,608 shares during the quarter. Grid Dynamics accounts for about 3.8% of Fourth Sail Capital LP's holdings, making the stock its 10th biggest holding. Fourth Sail Capital LP owned about 1.22% of Grid Dynamics worth $16,030,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Coppell Advisory Solutions LLC acquired a new stake in Grid Dynamics in the fourth quarter valued at approximately $25,000. PNC Financial Services Group Inc. increased its position in shares of Grid Dynamics by 199.0% in the 1st 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 during the last quarter. USA Financial Formulas acquired a new stake in shares of Grid Dynamics in the 1st quarter valued at $42,000. Johnson Financial Group Inc. purchased a new stake in shares of Grid Dynamics during the 4th quarter worth $70,000. Finally, Cetera Investment Advisers grew its stake in shares of Grid Dynamics by 29.3% during the first quarter. Cetera Investment Advisers now owns 11,639 shares of the company's stock worth $182,000 after purchasing an additional 2,640 shares in the last quarter. Institutional investors and hedge funds own 71.18% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on GDYN shares. Wall Street Zen cut Grid Dynamics from a "buy" rating to a "hold" rating in a research note on Sunday, July 20th. Needham & Company LLC dropped 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. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $17.50.

Grid Dynamics Stock Performance

Shares of GDYN stock traded up $0.09 during mid-day trading on Thursday, hitting $8.02. 1,553,251 shares of the stock were exchanged, compared to its average volume of 1,176,267. The stock's fifty day simple moving average is $11.08 and its two-hundred day simple moving average is $14.93. Grid Dynamics Holdings, Inc. has a 12-month low of $7.53 and a 12-month high of $25.50. The stock has a market capitalization of $678.09 million, a price-to-earnings ratio of 42.21 and a beta of 1.06.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported $0.10 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.10. The firm had revenue of $101.10 million during the quarter, compared to analysts' expectations of $100.45 million. Grid Dynamics had a return on equity of 1.89% and a net margin of 4.37%. The business's revenue was up 21.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.08 EPS. On average, research analysts expect that Grid Dynamics Holdings, Inc. will post 0.18 earnings per share for the current fiscal 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.