Grid Dynamics Holdings, Inc. $GDYN Shares Sold by S Squared Technology LLC

Key Points

• S Squared Technology LLC has reduced its holdings in Grid Dynamics Holdings, Inc. by 46.9%, selling 122,000 shares and now owning a total of 137,881 shares.
• Several other hedge funds have made significant changes to their positions in Grid Dynamics, with PNC Financial Services Group Inc. increasing its stake by 199.0% this quarter.
• Analysts have recently lowered their price targets for Grid Dynamics, with Needham & Company reducing it from $20.00 to $15.00, while maintaining a "buy" rating.

S Squared Technology LLC trimmed its holdings in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) by 46.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 137,881 shares of the company's stock after selling 122,000 shares during the quarter. Grid Dynamics makes up about 1.1% of S Squared Technology LLC's portfolio, making the stock its 29th biggest position. S Squared Technology LLC owned 0.16% of Grid Dynamics worth $2,158,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Next Century Growth Investors LLC raised its holdings in shares of Grid Dynamics by 10.8% in the first quarter. Next Century Growth Investors LLC now owns 1,798,071 shares of the company's stock worth $28,140,000 after buying an additional 175,845 shares during the period. Nuveen LLC purchased a new stake in shares of Grid Dynamics in the first quarter worth approximately $19,977,000. Driehaus Capital Management LLC raised its holdings in shares of Grid Dynamics by 23.5% in the first quarter. Driehaus Capital Management LLC now owns 1,080,536 shares of the company's stock worth $16,910,000 after buying an additional 205,634 shares during the period. American Century Companies Inc. increased its holdings in Grid Dynamics by 72.7% during the 1st quarter. American Century Companies Inc. now owns 1,073,327 shares of the company's stock worth $16,798,000 after purchasing an additional 451,862 shares during the period. Finally, Lord Abbett & CO. LLC increased its holdings in Grid Dynamics by 27.7% during the 1st quarter. Lord Abbett & CO. LLC now owns 1,067,454 shares of the company's stock worth $16,706,000 after purchasing an additional 231,598 shares during the period. 71.18% of the stock is currently owned by hedge funds and other institutional investors.

Grid Dynamics Price Performance

NASDAQ GDYN traded down $0.18 during midday trading on Friday, hitting $7.58. 606,939 shares of the company traded hands, compared to its average volume of 1,166,121. The company has a market cap of $641.80 million, a PE ratio of 39.90 and a beta of 1.03. The company's 50-day simple moving average is $8.99 and its 200-day simple moving average is $12.28. Grid Dynamics Holdings, Inc. has a 52 week low of $7.37 and a 52 week high of $25.50.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported $0.10 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.10. The business had revenue of $101.10 million for the quarter, compared to analysts' expectations of $100.45 million. Grid Dynamics had a return on equity of 1.89% and a net margin of 4.37%.The business's revenue for the quarter was up 21.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.08 EPS. Grid Dynamics has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, research analysts predict that Grid Dynamics Holdings, Inc. will post 0.18 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have commented on GDYN shares. Needham & Company LLC reduced their price objective on Grid Dynamics from $20.00 to $15.00 and set a "buy" rating on the stock in a report on Friday, August 1st. JPMorgan Chase & Co. reduced their price objective on Grid Dynamics from $13.00 to $11.00 and set an "overweight" rating on the stock in a report on Wednesday, August 20th. Finally, Wall Street Zen downgraded Grid Dynamics from a "buy" rating to a "hold" rating in a report on Sunday, July 20th. Four investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $15.75.

Grid Dynamics 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.