CenterBook Partners LP Has $8.44 Million Stake in Grid Dynamics Holdings, Inc. $GDYN

CenterBook Partners LP raised its stake in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 255.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,094,701 shares of the company’s stock after purchasing an additional 786,384 shares during the period. CenterBook Partners LP’s holdings in Grid Dynamics were worth $8,440,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in GDYN. Pacer Advisors Inc. bought a new stake in shares of Grid Dynamics in the 3rd quarter valued at $1,199,000. Fourth Sail Capital LP lifted its holdings in Grid Dynamics by 58.5% in the second quarter. Fourth Sail Capital LP now owns 1,623,562 shares of the company’s stock valued at $18,752,000 after buying an additional 599,293 shares during the period. Squarepoint Ops LLC acquired a new position in Grid Dynamics in the second quarter valued at $2,565,000. Integrated Quantitative Investments LLC boosted its position in Grid Dynamics by 56.7% during the second quarter. Integrated Quantitative Investments LLC now owns 94,254 shares of the company’s stock valued at $1,089,000 after acquiring an additional 34,097 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Grid Dynamics during the 2nd quarter worth about $1,068,000. Institutional investors own 71.18% of the company’s stock.

Insider Buying and Selling

In other Grid Dynamics news, CFO Anil Doradla sold 4,368 shares of the stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $10.00, for a total value of $43,680.00. Following the transaction, the chief financial officer owned 344,852 shares in the company, valued at approximately $3,448,520. This represents a 1.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 6.50% of the stock is owned by insiders.

Grid Dynamics Trading Down 1.1%

Shares of NASDAQ GDYN opened at $6.51 on Wednesday. The firm has a market capitalization of $551.85 million, a P/E ratio of 43.40 and a beta of 0.82. The firm’s 50-day moving average price is $8.68 and its 200-day moving average price is $8.36. Grid Dynamics Holdings, Inc. has a 1-year low of $6.16 and a 1-year high of $25.50.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Weiss Ratings reissued a “hold (c-)” rating on shares of Grid Dynamics in a research report on Wednesday, December 24th. Needham & Company LLC cut their target price on Grid Dynamics from $15.00 to $13.00 and set a “buy” rating on the stock in a research report on Friday, October 31st. Finally, JPMorgan Chase & Co. lowered their target price on Grid Dynamics from $11.00 to $10.00 and set an “overweight” rating for the company in a report on Friday, October 31st. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Grid Dynamics currently has a consensus rating of “Moderate Buy” and a consensus target price of $11.33.

Grid Dynamics Company 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.