Vanguard Group Inc. Acquires 279,995 Shares of Grid Dynamics Holdings, Inc. $GDYN

Vanguard Group Inc. boosted its position in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 5.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,920,753 shares of the company’s stock after acquiring an additional 279,995 shares during the period. Vanguard Group Inc. owned 6.98% of Grid Dynamics worth $53,464,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Oak Thistle LLC purchased a new stake in Grid Dynamics during the fourth quarter valued at approximately $103,000. Harbor Capital Advisors Inc. lifted its position in Grid Dynamics by 8.0% during the fourth quarter. Harbor Capital Advisors Inc. now owns 24,494 shares of the company’s stock valued at $221,000 after acquiring an additional 1,821 shares during the last quarter. Trust Point Inc. lifted its position in Grid Dynamics by 13.6% during the fourth quarter. Trust Point Inc. now owns 14,947 shares of the company’s stock valued at $135,000 after acquiring an additional 1,785 shares during the last quarter. GAMMA Investing LLC lifted its position in Grid Dynamics by 273.2% during the fourth quarter. GAMMA Investing LLC now owns 3,598 shares of the company’s stock valued at $32,000 after acquiring an additional 2,634 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Grid Dynamics by 271.1% during the third quarter. JPMorgan Chase & Co. now owns 513,677 shares of the company’s stock valued at $3,960,000 after acquiring an additional 375,254 shares during the last quarter. Hedge funds and other institutional investors own 71.18% of the company’s stock.

Grid Dynamics Trading Up 3.7%

NASDAQ GDYN opened at $6.71 on Friday. The company has a fifty day simple moving average of $6.02 and a two-hundred day simple moving average of $7.60. The stock has a market cap of $561.16 million, a P/E ratio of 134.23 and a beta of 0.86. Grid Dynamics Holdings, Inc. has a 12-month low of $5.13 and a 12-month high of $14.25.

Grid Dynamics (NASDAQ:GDYN) last issued its earnings results on Thursday, April 30th. The company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.01. Grid Dynamics had a net margin of 1.27% and a return on equity of 1.20%. The firm had revenue of $104.10 million during the quarter, compared to analysts’ expectations of $103.32 million. During the same quarter last year, the company posted $0.11 earnings per share. The firm’s revenue was up 3.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Grid Dynamics Holdings, Inc. will post 0.1 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on GDYN shares. Needham & Company LLC decreased their target price on shares of Grid Dynamics from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Friday, May 1st. TD Cowen decreased their target price on shares of Grid Dynamics from $11.00 to $10.00 and set a “buy” rating for the company in a research report on Friday, May 1st. Zacks Research raised shares of Grid Dynamics from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 6th. Northland Securities decreased their target price on shares of Grid Dynamics from $14.00 to $12.00 and set an “outperform” rating for the company in a research report on Monday, March 9th. Finally, Weiss Ratings cut shares of Grid Dynamics from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, May 4th. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Grid Dynamics currently has a consensus rating of “Moderate Buy” and an average price target of $10.00.

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.