Riverbridge Partners LLC Sells 318,558 Shares of Grid Dynamics Holdings, Inc. $GDYN

Key Points

• Riverbridge Partners LLC cut its stake in Grid Dynamics by 18.2% in the first quarter, selling 318,558 shares and leaving it with 1,427,409 shares worth about $8.14 million.
• Insider selling also occurred, with COO Yury Gryzlov selling 4,435 shares in a pre-arranged Rule 10b5-1 transaction; insiders now own 6.5% of the company.
• Grid Dynamics reported better-than-expected quarterly earnings of $0.09 per share on revenue of $104.1 million, while analysts currently rate the stock a consensus Hold with an average price target of $9.40.

Riverbridge Partners LLC lowered its position in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) by 18.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,427,409 shares of the company's stock after selling 318,558 shares during the period. Riverbridge Partners LLC owned 1.67% of Grid Dynamics worth $8,136,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Hantz Financial Services Inc. grew its position in shares of Grid Dynamics by 175.5% during the 4th quarter. Hantz Financial Services Inc. now owns 3,229 shares of the company's stock valued at $29,000 after purchasing an additional 2,057 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Grid Dynamics by 273.2% in the fourth quarter. GAMMA Investing LLC now owns 3,598 shares of the company's stock worth $32,000 after purchasing an additional 2,634 shares during the period. Quarry LP raised its position in shares of Grid Dynamics by 57.1% in the third quarter. Quarry LP now owns 4,835 shares of the company's stock worth $37,000 after buying an additional 1,757 shares in the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of Grid Dynamics in the second quarter worth $43,000. Finally, PNC Financial Services Group Inc. boosted its stake in Grid Dynamics by 50.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 5,193 shares of the company's stock valued at $47,000 after buying an additional 1,742 shares during the period. 71.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Grid Dynamics

In related news, COO Yury Gryzlov sold 4,435 shares of the firm's stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $8.00, for a total transaction of $35,480.00. Following the transaction, the chief operating officer directly owned 514,948 shares of the company's stock, valued at approximately $4,119,584. This trade represents a 0.85% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 6,147 shares of company stock worth $45,389. 6.50% of the stock is currently owned by corporate insiders.

Grid Dynamics Stock Performance

Shares of NASDAQ:GDYN opened at $5.42 on Wednesday. Grid Dynamics Holdings, Inc. has a 52-week low of $5.13 and a 52-week high of $12.86. The firm has a fifty day moving average of $6.37 and a 200 day moving average of $7.23. The firm has a market capitalization of $453.27 million, a PE ratio of 108.42 and a beta of 0.94.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The company reported $0.09 earnings per share for the quarter, beating analysts' consensus estimates of $0.08 by $0.01. Grid Dynamics had a return on equity of 1.20% and a net margin of 1.27%.The business had revenue of $104.10 million for the quarter, compared to the consensus estimate of $103.32 million. During the same quarter last year, the business posted $0.11 earnings per share. The company's revenue for the quarter was up 3.7% on a year-over-year basis. On average, sell-side analysts forecast that Grid Dynamics Holdings, Inc. will post 0.1 EPS for the current fiscal year.

Analysts Set New Price Targets

GDYN has been the subject of several recent analyst reports. TD Cowen reduced their target price on Grid Dynamics from $11.00 to $10.00 and set a "buy" rating for the company in a research report on Friday, May 1st. Zacks Research raised Grid Dynamics from a "strong sell" rating to a "hold" rating in a report on Wednesday, May 6th. Northland Securities dropped their price target on Grid Dynamics from $14.00 to $12.00 and set an "outperform" rating for the company in a research report on Monday, March 9th. Needham & Company LLC cut their price objective on Grid Dynamics from $10.00 to $8.00 and set a "buy" rating for the company in a report on Friday, May 1st. Finally, Citigroup restated a "cautious" rating on shares of Grid Dynamics in a research report on Friday, May 29th. Four research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Grid Dynamics has an average rating of "Hold" and a consensus price target of $9.40.

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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