Riverbridge Partners LLC Trims Position in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Riverbridge Partners LLC lessened its stake in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) by 9.1% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,594,046 shares of the company's stock after selling 259,928 shares during the period. Riverbridge Partners LLC owned 3.09% of Grid Dynamics worth $40,597,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in GDYN. Coppell Advisory Solutions LLC acquired a new position in Grid Dynamics during the 4th quarter worth approximately $25,000. Global Retirement Partners LLC acquired a new position in Grid Dynamics during the 4th quarter worth approximately $27,000. USA Financial Formulas acquired a new position in Grid Dynamics during the 1st quarter worth approximately $42,000. Johnson Financial Group Inc. acquired a new position in Grid Dynamics during the 4th quarter worth approximately $70,000. Finally, Skandinaviska Enskilda Banken AB publ increased its position in Grid Dynamics by 68.4% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 3,157 shares of the company's stock worth $71,000 after purchasing an additional 1,282 shares during the period. Institutional investors and hedge funds own 71.18% of the company's stock.

Insider Activity at Grid Dynamics

In other Grid Dynamics news, COO Yury Gryzlov sold 2,000 shares of the stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $13.22, for a total transaction of $26,440.00. Following the transaction, the chief operating officer now owns 474,269 shares of the company's stock, valued at $6,269,836.18. This represents a 0.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. In the last 90 days, insiders have sold 4,737 shares of company stock valued at $65,288. 7.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Wall Street Zen cut Grid Dynamics from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Needham & Company LLC boosted their price target on Grid Dynamics from $18.00 to $20.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $18.75.

Grid Dynamics Trading Up 0.4%

Shares of NASDAQ:GDYN traded up $0.05 during trading on Monday, hitting $11.56. 1,324,198 shares of the stock were exchanged, compared to its average volume of 660,943. The company has a fifty day moving average price of $13.06 and a two-hundred day moving average price of $17.19. The company has a market cap of $977.40 million, a PE ratio of 96.34 and a beta of 1.07. Grid Dynamics Holdings, Inc. has a 12-month low of $9.94 and a 12-month high of $25.50.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.09 by $0.02. Grid Dynamics had a return on equity of 1.37% and a net margin of 2.94%. The firm had revenue of $100.42 million for the quarter, compared to analyst estimates of $98.19 million. During the same quarter in the prior year, the company earned $0.10 EPS. Grid Dynamics's revenue was up 25.8% on a year-over-year basis. Equities research analysts anticipate 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.