Summit Creek Advisors LLC Boosts Position in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Summit Creek Advisors LLC raised its stake in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYNGet Rating) by 0.6% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 245,145 shares of the company’s stock after buying an additional 1,512 shares during the quarter. Summit Creek Advisors LLC owned about 0.37% of Grid Dynamics worth $3,452,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in GDYN. Allspring Global Investments Holdings LLC purchased a new position in Grid Dynamics during the 4th quarter valued at about $1,225,000. Robeco Institutional Asset Management B.V. grew its holdings in Grid Dynamics by 53.0% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 10,397 shares of the company’s stock valued at $395,000 after buying an additional 3,600 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Grid Dynamics by 76.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,165 shares of the company’s stock valued at $234,000 after acquiring an additional 2,679 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its position in shares of Grid Dynamics by 6.1% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 93,549 shares of the company’s stock valued at $3,552,000 after acquiring an additional 5,373 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its position in shares of Grid Dynamics by 3.5% during the 4th quarter. New York State Common Retirement Fund now owns 123,399 shares of the company’s stock valued at $4,685,000 after acquiring an additional 4,189 shares during the last quarter. Hedge funds and other institutional investors own 65.42% of the company’s stock.

Grid Dynamics Trading Down 1.7 %

NASDAQ:GDYN opened at $20.13 on Friday. The business has a 50 day moving average of $17.83 and a 200 day moving average of $17.05. Grid Dynamics Holdings, Inc. has a 1-year low of $9.09 and a 1-year high of $42.81. The company has a debt-to-equity ratio of 0.02, a quick ratio of 6.32 and a current ratio of 6.32.

Grid Dynamics (NASDAQ:GDYNGet Rating) last released its earnings results on Thursday, May 5th. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.05. The company had revenue of $71.41 million during the quarter, compared to the consensus estimate of $65.07 million. Grid Dynamics had a positive return on equity of 12.34% and a negative net margin of 7.32%. Grid Dynamics’s quarterly revenue was up 82.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.05 EPS. As a group, research analysts anticipate that Grid Dynamics Holdings, Inc. will post 0.29 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Leonard Livschitz sold 78,897 shares of the business’s stock in a transaction that occurred on Monday, June 6th. The stock was sold at an average price of $18.77, for a total value of $1,480,896.69. Following the completion of the sale, the chief executive officer now owns 3,232,260 shares in the company, valued at approximately $60,669,520.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Grid Dynamics news, CEO Leonard Livschitz sold 78,897 shares of the business’s stock in a transaction that occurred on Monday, June 6th. The stock was sold at an average price of $18.77, for a total value of $1,480,896.69. Following the completion of the sale, the chief executive officer now owns 3,232,260 shares in the company, valued at $60,669,520.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Patrick Nicolet acquired 10,000 shares of the stock in a transaction on Thursday, May 12th. The stock was bought at an average price of $16.42 per share, with a total value of $164,200.00. Following the transaction, the director now directly owns 14,290 shares of the company’s stock, valued at approximately $234,641.80. The disclosure for this purchase can be found here. 11.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on GDYN. Northland Securities lifted their price target on Grid Dynamics from $22.50 to $25.00 in a research report on Monday, May 9th. Citigroup lifted their price target on Grid Dynamics from $20.00 to $23.00 in a research report on Friday, May 6th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Grid Dynamics has a consensus rating of “Moderate Buy” and a consensus price target of $23.17.

Grid Dynamics Company Profile

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Grid Dynamics Holdings, Inc, together with its subsidiaries, provides enterprise-level digital transformation services in the areas of search, analytics, and release automation for Fortune 1000 corporations in North America, Europe, and internationally. It works in collaboration with its clients on digital transformation initiatives that cover strategy consulting, early prototypes, and enterprise-scale delivery of new digital platforms.

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Institutional Ownership by Quarter for Grid Dynamics (NASDAQ:GDYN)

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