Fourth Sail Capital LP Increases Holdings in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

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 raised its position in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) by 52.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,024,269 shares of the company's stock after acquiring an additional 351,608 shares during the period. Grid Dynamics comprises approximately 3.8% of Fourth Sail Capital LP's holdings, making the stock its 10th largest holding. Fourth Sail Capital LP owned 1.22% of Grid Dynamics worth $16,030,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. State of Wyoming raised its holdings in Grid Dynamics by 4.1% in the 4th quarter. State of Wyoming now owns 26,495 shares of the company's stock valued at $589,000 after acquiring an additional 1,046 shares in the last quarter. Coppell Advisory Solutions LLC acquired a new position in shares of Grid Dynamics in the 4th quarter worth approximately $25,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Grid Dynamics by 3.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,474 shares of the company's stock worth $722,000 after buying an additional 1,106 shares in the last quarter. Arizona State Retirement System raised its holdings in shares of Grid Dynamics by 7.4% in the 1st quarter. Arizona State Retirement System now owns 19,109 shares of the company's stock worth $299,000 after buying an additional 1,324 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings 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 worth $36,000 after buying an additional 1,526 shares in the last quarter. Institutional investors and hedge funds own 71.18% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Needham & Company LLC dropped their target price on Grid Dynamics from $20.00 to $15.00 and set a "buy" rating for the company in a report on Friday, August 1st. Wall Street Zen cut Grid Dynamics from a "buy" rating to a "hold" rating in a report on Sunday, July 20th. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $17.50.

Grid Dynamics Trading Down 4.2%

NASDAQ GDYN traded down $0.34 during trading hours on Friday, reaching $7.68. 1,270,340 shares of the company's stock were exchanged, compared to its average volume of 1,218,930. The stock has a market cap of $650.27 million, a PE ratio of 40.42 and a beta of 1.06. Grid Dynamics Holdings, Inc. has a one year low of $7.53 and a one year high of $25.50. The firm has a fifty day moving average of $10.98 and a 200-day moving average of $14.80.

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

About Grid Dynamics

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.