Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Shares Sold by Informed Momentum Co LLC

Key Points

• Informed Momentum Co LLC reduced its stake in Grid Dynamics Holdings, Inc. by 35.6%, selling 62,998 shares during the first quarter.
• Grid Dynamics reported $0.10 EPS in its latest earnings, meeting analysts' expectations, and saw a 21.7% revenue increase compared to the previous year.
• Analysts have issued a range of ratings on GDYN, with an average target price of $17.50 and several firms adjusting their ratings, indicating a mix of buy and hold recommendations.

Informed Momentum Co LLC cut its holdings in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) by 35.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 114,134 shares of the company's stock after selling 62,998 shares during the period. Informed Momentum Co LLC owned 0.14% of Grid Dynamics worth $1,786,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Nuveen LLC purchased a new stake in shares of Grid Dynamics during the 1st quarter valued at $19,977,000. Focus Partners Wealth purchased a new stake in shares of Grid Dynamics during the 4th quarter valued at $23,053,000. Ensign Peak Advisors Inc purchased a new stake in shares of Grid Dynamics during the 4th quarter valued at $20,162,000. Driehaus Capital Management LLC purchased a new stake in Grid Dynamics during the 4th quarter worth $19,458,000. Finally, T. Rowe Price Investment Management Inc. purchased a new stake in Grid Dynamics during the 4th quarter worth $15,542,000. 71.18% of the stock is currently owned by institutional investors and hedge funds.

Grid Dynamics Trading Down 3.6%

GDYN stock traded down $0.29 during trading on Friday, reaching $7.70. The stock had a trading volume of 1,689,229 shares, compared to its average volume of 1,339,195. Grid Dynamics Holdings, Inc. has a 1-year low of $7.52 and a 1-year high of $25.50. The company has a market capitalization of $651.96 million, a P/E ratio of 40.53 and a beta of 1.06. The firm has a fifty day moving average price of $10.56 and a 200 day moving average price of $14.32.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.10 EPS for the quarter, hitting analysts' consensus estimates of $0.10. Grid Dynamics had a net margin of 4.37% and a return on equity of 1.89%. The firm had revenue of $101.10 million for the quarter, compared to analyst estimates of $100.45 million. During the same quarter in the previous year, the business posted $0.08 EPS. The firm's revenue was up 21.7% compared to the same quarter last year. Sell-side analysts predict that Grid Dynamics Holdings, Inc. will post 0.18 EPS for the current year.

Analyst Upgrades and Downgrades

GDYN has been the subject of a number of research reports. Wall Street Zen cut shares of Grid Dynamics from a "buy" rating to a "hold" rating in a research report on Sunday, July 20th. Needham & Company LLC decreased their price target on shares of Grid Dynamics from $20.00 to $15.00 and set a "buy" rating for the company in a research report on Friday, August 1st. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Grid Dynamics currently has a consensus rating of "Moderate Buy" and an average target price of $17.50.

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.