Sei Investments Co. Trims Stock Position in Grid Dynamics Holdings, Inc. $GDYN

Key Points

• Sei Investments cut its Grid Dynamics stake by 37.5% in the first quarter, selling 168,842 shares and retaining 281,449 shares worth approximately $1.6 million. Institutional investors collectively own 71.18% of the company.
• Analyst views remain mixed, but Grid Dynamics has a consensus “Moderate Buy” rating and an average price target of $9.40. JPMorgan and Needham raised their targets to $8 and $10, respectively, while Jefferies downgraded the stock to “Hold.”
• Grid Dynamics reported quarterly EPS of $0.11, beating estimates by $0.01, while revenue of $108.16 million also exceeded expectations. Shares opened at $7.66, compared with a 52-week range of $5.11 to $10.21.

Sei Investments Co. decreased its stake in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) by 37.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 281,449 shares of the company's stock after selling 168,842 shares during the period. Sei Investments Co. owned 0.34% of Grid Dynamics worth $1,604,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of GDYN. Hantz Financial Services Inc. boosted its stake in 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 in the last quarter. Quarry LP increased its position 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 in the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of Grid Dynamics in the 2nd quarter valued at about $43,000. PNC Financial Services Group Inc. lifted its holdings in shares of Grid Dynamics by 60.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 8,315 shares of the company's stock valued at $47,000 after purchasing an additional 3,122 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in shares of Grid Dynamics by 208.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,213 shares of the company's stock valued at $72,000 after purchasing an additional 4,197 shares during the period. 71.18% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on GDYN. Weiss Ratings restated a "sell (d)" rating on shares of Grid Dynamics in a research note on Friday, July 31st. JPMorgan Chase & Co. increased their price objective on Grid Dynamics from $7.00 to $8.00 and gave the company an "overweight" rating in a report on Friday, July 31st. Citigroup restated a "cautious" rating on shares of Grid Dynamics in a research report on Friday, May 29th. Jefferies Financial Group cut shares of Grid Dynamics from a "buy" rating to a "hold" rating and set a $8.00 target price on the stock. in a report on Friday, May 29th. Finally, Needham & Company LLC increased their price target on shares of Grid Dynamics from $8.00 to $10.00 and gave the stock a "buy" rating in a research note on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $9.40.

Insider Buying and Selling

In other Grid Dynamics news, COO Yury Gryzlov sold 4,435 shares of the firm's stock in a transaction 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 sale, the chief operating officer owned 514,948 shares of the company's stock, valued at approximately $4,119,584. This trade represents a 0.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 6,147 shares of company stock valued at $46,323 over the last three months. 6.50% of the stock is currently owned by company insiders.

Grid Dynamics Trading Up 1.1%

Shares of GDYN opened at $7.66 on Tuesday. The stock's 50 day moving average is $6.21 and its two-hundred day moving average is $6.45. Grid Dynamics Holdings, Inc. has a twelve month low of $5.11 and a twelve month high of $10.21. The firm has a market capitalization of $621.46 million, a PE ratio of 383.19 and a beta of 0.91.

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