Summit Creek Advisors LLC Takes $2.45 Million Position in Grid Dynamics Holdings, Inc. $GDYN

Summit Creek Advisors LLC acquired a new stake in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 431,671 shares of the company’s stock, valued at approximately $2,452,000. Summit Creek Advisors LLC owned 0.52% of Grid Dynamics at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of GDYN. Hantz Financial Services Inc. grew its position in Grid Dynamics by 175.5% in the 4th 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 lifted 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 acquired a new stake in shares of Grid Dynamics during the second quarter worth about $43,000. PNC Financial Services Group Inc. boosted its stake in shares of Grid Dynamics by 60.1% in the first 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 period. Finally, Tower Research Capital LLC TRC boosted its stake in shares of Grid Dynamics by 208.2% in the second 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. Institutional investors and hedge funds own 71.18% of the company’s stock.

Insider Buying and Selling at Grid Dynamics

In other news, COO Yury Gryzlov sold 3,930 shares of the firm’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $8.00, for a total value of $31,440.00. Following the sale, the chief operating officer directly owned 508,087 shares in the company, valued at approximately $4,064,696. This trade represents a 0.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 9,610 shares of company stock valued at $74,751. 6.50% of the stock is currently owned by company insiders.

Grid Dynamics Stock Performance

GDYN stock opened at $7.67 on Wednesday. The company’s 50 day moving average price is $6.33 and its 200 day moving average price is $6.41. Grid Dynamics Holdings, Inc. has a fifty-two week low of $5.11 and a fifty-two week high of $10.21. The firm has a market capitalization of $622.27 million, a price-to-earnings ratio of 383.69 and a beta of 0.91.

Grid Dynamics (NASDAQ:GDYN) last issued its earnings results on Thursday, July 30th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.01. Grid Dynamics had a net margin of 0.68% and a return on equity of 1.90%. The firm had revenue of $108.16 million for the quarter, compared to analysts’ expectations of $106.55 million. Equities analysts forecast that Grid Dynamics Holdings, Inc. will post 0.13 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on GDYN. Citigroup reaffirmed a “cautious” rating on shares of Grid Dynamics in a research note on Friday, May 29th. Needham & Company LLC raised their price target on shares of Grid Dynamics from $8.00 to $10.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Zacks Research upgraded shares of Grid Dynamics from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 5th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Grid Dynamics in a research report on Friday, July 31st. Finally, TD Cowen increased their price objective on Grid Dynamics from $8.00 to $9.00 and gave the company 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 issued a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Grid Dynamics presently has a consensus rating of “Moderate Buy” and an average target price 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.