Walleye Capital LLC Invests $1.01 Million in Grid Dynamics Holdings, Inc. $GDYN

Walleye Capital LLC purchased a new stake in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) during the first quarter, Holdings Channel reports. The institutional investor purchased 176,600 shares of the company’s stock, valued at approximately $1,007,000.

A number of other institutional investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. increased its stake in Grid Dynamics by 271.1% in the third quarter. JPMorgan Chase & Co. now owns 513,677 shares of the company’s stock valued at $3,960,000 after purchasing an additional 375,254 shares in the last quarter. Banco BTG Pactual S.A. acquired a new position in shares of Grid Dynamics in the 4th quarter valued at $2,574,000. 1492 Capital Management LLC increased its position in shares of Grid Dynamics by 40.8% in the 4th quarter. 1492 Capital Management LLC now owns 809,951 shares of the company’s stock valued at $7,314,000 after buying an additional 234,694 shares in the last quarter. S Squared Technology LLC raised its stake in Grid Dynamics by 109.3% during the 4th quarter. S Squared Technology LLC now owns 636,737 shares of the company’s stock worth $5,750,000 after buying an additional 332,499 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in Grid Dynamics by 5.0% during the fourth quarter. Vanguard Group Inc. now owns 5,920,753 shares of the company’s stock worth $53,464,000 after acquiring an additional 279,995 shares in the last quarter. Institutional investors and hedge funds own 71.18% of the company’s stock.

Insider Activity at Grid Dynamics

In related news, COO Yury Gryzlov sold 4,435 shares of the firm’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $8.00, for a total value of $35,480.00. Following the completion of the transaction, the chief operating officer directly owned 514,948 shares of the company’s stock, valued at approximately $4,119,584. This trade represents a 0.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 6,147 shares of company stock valued at $46,323. Corporate insiders own 6.50% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on GDYN shares. TD Cowen lowered their price target on Grid Dynamics from $10.00 to $8.00 and set a “buy” rating for the company in a report on Thursday, July 9th. Zacks Research upgraded Grid Dynamics from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 6th. Needham & Company LLC decreased their price objective on Grid Dynamics from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Friday, May 1st. Citigroup reissued a “cautious” rating on shares of Grid Dynamics in a research note on Friday, May 29th. Finally, Jefferies Financial Group downgraded shares of Grid Dynamics from a “buy” rating to a “hold” rating and set a $8.00 target price on the stock. in a report on Friday, May 29th. Four equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $9.00.

Grid Dynamics Stock Up 1.4%

NASDAQ:GDYN opened at $5.69 on Friday. The company has a market cap of $475.83 million, a P/E ratio of 113.82 and a beta of 0.98. Grid Dynamics Holdings, Inc. has a twelve month low of $5.11 and a twelve month high of $10.60. The business has a 50 day moving average price of $6.22 and a two-hundred day moving average price of $6.66.

Grid Dynamics (NASDAQ:GDYN) last issued its quarterly earnings results on Thursday, April 30th. The company reported $0.09 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 for the quarter, compared to analysts’ expectations of $103.32 million. During the same period in the previous year, the firm posted $0.11 EPS. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. As a group, analysts anticipate that Grid Dynamics Holdings, Inc. will post 0.1 earnings per share for the current fiscal year.

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.