Grid Dynamics Holdings, Inc. $GDYN Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC lowered its position in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 78.7% in the first quarter, Holdings Channel reports. The firm owned 33,000 shares of the company’s stock after selling 121,600 shares during the period. Renaissance Technologies LLC’s holdings in Grid Dynamics were worth $188,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Amundi purchased a new position in Grid Dynamics in the first quarter valued at approximately $252,000. AQR Capital Management LLC increased its position in shares of Grid Dynamics by 32.4% in the first quarter. AQR Capital Management LLC now owns 15,484 shares of the company’s stock worth $242,000 after acquiring an additional 3,791 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Grid Dynamics by 12.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,590 shares of the company’s stock worth $573,000 after acquiring an additional 4,116 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Grid Dynamics by 12.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 319,186 shares of the company’s stock valued at $4,995,000 after acquiring an additional 35,204 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Grid Dynamics by 35.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 162,714 shares of the company’s stock valued at $2,546,000 after acquiring an additional 42,801 shares during the period. Institutional investors and hedge funds own 71.18% of the company’s stock.

Insider Activity

In other news, COO Yury Gryzlov sold 3,930 shares of Grid Dynamics stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $8.00, for a total transaction of $31,440.00. Following the sale, the chief operating officer directly owned 508,087 shares of the company’s stock, valued at approximately $4,064,696. The trade was a 0.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 10,077 shares of company stock worth $78,268 over the last 90 days. 6.50% of the stock is currently owned by insiders.

Grid Dynamics Trading Down 0.9%

GDYN opened at $7.91 on Friday. 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 cap of $641.74 million, a price-to-earnings ratio of 395.70 and a beta of 0.92. The company has a fifty day simple moving average of $6.39 and a 200 day simple moving average of $6.41.

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

Analysts Set New Price Targets

A number of brokerages recently weighed in on GDYN. TD Cowen upped their price target on shares of Grid Dynamics from $8.00 to $9.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. JPMorgan Chase & Co. raised their price objective on Grid Dynamics from $7.00 to $8.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. Zacks Research upgraded 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, Jefferies Financial Group lowered Grid Dynamics from a “buy” rating to a “hold” rating and set a $8.00 target price for the company. in a research note on Friday, May 29th. 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $9.40.

About Grid Dynamics

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.