Grid Dynamics Holdings, Inc. $GDYN Stock Acquired by Summit Creek Advisors LLC

Summit Creek Advisors LLC raised its position in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 13.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 488,332 shares of the company’s stock after purchasing an additional 56,661 shares during the quarter. Summit Creek Advisors LLC owned 0.60% of Grid Dynamics worth $3,848,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Bastion Asset Management Inc. acquired a new stake in shares of Grid Dynamics during the first quarter valued at about $6,899,000. Squarepoint Ops LLC acquired a new position in shares of Grid Dynamics in the second quarter valued at approximately $2,702,000. Bank of America Corp DE increased its stake in shares of Grid Dynamics by 76.4% in the first quarter. Bank of America Corp DE now owns 364,342 shares of the company’s stock valued at $2,077,000 after buying an additional 157,767 shares during the period. Principal Financial Group Inc. raised its holdings in Grid Dynamics by 2.4% in the 1st quarter. Principal Financial Group Inc. now owns 323,773 shares of the company’s stock valued at $1,846,000 after buying an additional 7,548 shares during the last quarter. Finally, Quantinno Capital Management LP raised its holdings in Grid Dynamics by 460.4% in the 1st quarter. Quantinno Capital Management LP now owns 206,289 shares of the company’s stock valued at $1,176,000 after buying an additional 169,477 shares during the last quarter. 71.18% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

GDYN has been the topic of several recent research reports. TD Cowen boosted their target price on shares of Grid Dynamics from $9.00 to $13.00 and gave the stock a “buy” rating in a report on Friday, October 30th. Needham & Company LLC upped their price target on shares of Grid Dynamics from $10.00 to $15.00 and gave the company a “buy” rating in a research report on Friday, October 30th. Zacks Research downgraded shares of Grid Dynamics from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 15th. Wall Street Zen upgraded shares of Grid Dynamics from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Grid Dynamics in a report on Thursday, October 29th. Four research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Grid Dynamics has a consensus rating of “Hold” and an average price target of $11.80.

Grid Dynamics Trading Down 3.2%

Shares of GDYN stock opened at $13.10 on Friday. The stock has a market cap of $1.06 billion, a price-to-earnings ratio of 145.56 and a beta of 0.88. The stock has a 50-day moving average of $8.68 and a 200-day moving average of $7.10. Grid Dynamics Holdings, Inc. has a 1-year low of $5.11 and a 1-year high of $14.02.

Grid Dynamics (NASDAQ:GDYN) last posted its quarterly earnings data on Thursday, October 29th. The company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.05. Grid Dynamics had a return on equity of 3.24% and a net margin of 1.81%. The company had revenue of $114.29 million for the quarter, compared to analyst estimates of $112.77 million. Sell-side analysts forecast that Grid Dynamics Holdings, Inc. will post 0.26 earnings per share for the current year.

Insider Activity at Grid Dynamics

In other news, CFO Anil Doradla sold 20,000 shares of the company’s stock in a transaction on Friday, October 30th. The shares were sold at an average price of $10.51, for a total value of $210,200.00. Following the sale, the chief financial officer directly owned 374,509 shares of the company’s stock, valued at approximately $3,936,089.59. This represents a 5.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Yury Gryzlov sold 10,512 shares of the company’s stock in a transaction on Friday, October 30th. The shares were sold at an average price of $10.51, for a total transaction of $110,481.12. Following the completion of the sale, the chief operating officer directly owned 484,778 shares in the company, valued at approximately $5,095,016.78. This represents a 2.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 49,636 shares of company stock valued at $500,195. Company insiders own 6.50% of the company’s stock.

Grid Dynamics Company Profile

Grid Dynamics Holdings, Inc (NASDAQ: GDYN) is a digital engineering and technology services company that helps enterprises modernize their technology infrastructure and develop data-driven products. Its services include software engineering, cloud computing, data engineering, artificial intelligence and machine learning, user experience design, and application modernization.

The company develops and implements technology solutions for industries including retail and consumer packaged goods, financial services, manufacturing, healthcare, and technology.