Riverbridge Partners LLC Reduces Stake in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Riverbridge Partners LLC reduced its stake in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) by 9.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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 hedge funds and other institutional investors have also recently bought and sold shares of the stock. State of Wyoming raised its holdings in shares of Grid Dynamics by 4.1% in the 4th quarter. State of Wyoming now owns 26,495 shares of the company's stock worth $589,000 after acquiring an additional 1,046 shares during the last quarter. Coppell Advisory Solutions LLC bought a new stake in Grid Dynamics during the 4th quarter worth approximately $25,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Grid Dynamics by 3.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,474 shares of the company's stock worth $722,000 after purchasing an additional 1,106 shares during the last quarter. Global Retirement Partners LLC purchased a new stake in shares of Grid Dynamics in the fourth quarter worth approximately $27,000. Finally, Arizona State Retirement System lifted its holdings in shares of Grid Dynamics by 7.6% in the fourth quarter. Arizona State Retirement System now owns 17,785 shares of the company's stock valued at $396,000 after purchasing an additional 1,260 shares in the last quarter. 71.18% of the stock is owned by institutional investors.

Grid Dynamics Stock Down 1.5%

GDYN stock traded down $0.17 during trading on Friday, reaching $11.51. The stock had a trading volume of 1,356,673 shares, compared to its average volume of 658,335. Grid Dynamics Holdings, Inc. has a one year low of $9.76 and a one year high of $25.50. The company's 50 day moving average is $13.10 and its two-hundred day moving average is $17.26. The company has a market capitalization of $973.17 million, a price-to-earnings ratio of 95.92 and a beta of 1.07.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.09 by $0.02. Grid Dynamics had a net margin of 2.94% and a return on equity of 1.37%. The business had revenue of $100.42 million during the quarter, compared to the consensus estimate of $98.19 million. During the same period in the prior year, the firm posted $0.10 EPS. The firm's quarterly revenue was up 25.8% compared to the same quarter last year. As a group, research analysts predict that Grid Dynamics Holdings, Inc. will post 0.18 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on GDYN shares. Wall Street Zen downgraded Grid Dynamics from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Needham & Company LLC upped their target price on shares of Grid Dynamics from $18.00 to $20.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. 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. Based on data from MarketBeat.com, Grid Dynamics presently has an average rating of "Buy" and an average price target of $18.75.

Insiders Place Their Bets

In other Grid Dynamics news, COO Yury Gryzlov sold 2,000 shares of the business's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $13.22, for a total value of $26,440.00. Following the transaction, the chief operating officer now directly owns 474,269 shares in the company, valued at $6,269,836.18. The trade was a 0.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders sold 4,737 shares of company stock valued at $65,288. Corporate insiders own 7.20% of the company's stock.

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.