Quantinno Capital Management LP Purchases 169,477 Shares of Grid Dynamics Holdings, Inc. $GDYN

Key Points

• Quantinno Capital Management increased its Grid Dynamics position by 460.4% in the first quarter, purchasing 169,477 shares and bringing its holdings to 206,289 shares worth approximately $1.18 million. Institutional investors collectively own 71.18% of the company.
• Analyst sentiment is generally positive, with Grid Dynamics receiving a consensus “Moderate Buy” rating and an average price target of $9.40, compared with its recent price of $7.75.
• Grid Dynamics exceeded quarterly expectations, reporting $0.11 in earnings per share versus the $0.10 consensus estimate and revenue of $108.16 million against forecasts of $106.55 million. Meanwhile, insiders sold 9,610 shares over the past three months.

Quantinno Capital Management LP raised its position in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) by 460.4% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 206,289 shares of the company's stock after buying an additional 169,477 shares during the period. Quantinno Capital Management LP owned about 0.25% of Grid Dynamics worth $1,176,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Hantz Financial Services Inc. increased its position in shares of Grid Dynamics by 175.5% in the fourth quarter. Hantz Financial Services Inc. now owns 3,229 shares of the company's stock valued at $29,000 after acquiring an additional 2,057 shares during the period. Quarry LP boosted its holdings in shares of Grid Dynamics by 57.1% during the third quarter. Quarry LP now owns 4,835 shares of the company's stock worth $37,000 after purchasing an additional 1,757 shares during the period. Canada Pension Plan Investment Board purchased a new stake in shares of Grid Dynamics during the second quarter worth about $43,000. PNC Financial Services Group Inc. grew its stake in shares of Grid Dynamics by 60.1% in the first quarter. PNC Financial Services Group Inc. now owns 8,315 shares of the company's stock worth $47,000 after purchasing an additional 3,122 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its stake in shares of Grid Dynamics by 208.2% in the second quarter. Tower Research Capital LLC TRC now owns 6,213 shares of the company's stock worth $72,000 after purchasing an additional 4,197 shares during the last quarter. Institutional investors own 71.18% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. JPMorgan Chase & Co. upped their price target on Grid Dynamics from $7.00 to $8.00 and gave the company an "overweight" rating in a research report on Friday, July 31st. Zacks Research upgraded Grid Dynamics from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 5th. TD Cowen lifted their price objective on Grid Dynamics from $8.00 to $9.00 and gave the stock a "buy" rating in a research report on Friday, July 31st. Needham & Company LLC boosted their target price on Grid Dynamics from $8.00 to $10.00 and gave the company a "buy" rating in a research note on Friday, July 31st. Finally, Citigroup restated a "cautious" rating on shares of Grid Dynamics in a report on Friday, May 29th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $9.40.

Insider Activity

In other news, COO Yury Gryzlov sold 4,435 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $8.00, for a total value of $35,480.00. Following the completion of the transaction, the chief operating officer owned 514,948 shares of the company's stock, valued at approximately $4,119,584. This represents a 0.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 9,610 shares of company stock valued at $74,751. 6.50% of the stock is currently owned by corporate insiders.

Grid Dynamics Price Performance

Shares of NASDAQ GDYN opened at $7.75 on Friday. Grid Dynamics Holdings, Inc. has a 1 year low of $5.11 and a 1 year high of $10.21. The company's 50-day moving average is $6.27 and its 200 day moving average is $6.44. The stock has a market capitalization of $628.76 million, a P/E ratio of 387.69 and a beta of 0.92.

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

Grid Dynamics Profile

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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