56,661 Grid Dynamics Holdings, Inc. $GDYN Shares Bought by Summit Creek Advisors LLC

Summit Creek Advisors LLC lifted its holdings in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 13.1% during the 3rd quarter, Holdings Channel reports. The firm owned 488,332 shares of the company’s stock after purchasing an additional 56,661 shares during the quarter. Summit Creek Advisors LLC’s holdings in Grid Dynamics were worth $3,848,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Bastion Asset Management Inc. acquired a new stake in Grid Dynamics during the first quarter worth approximately $6,899,000. Squarepoint Ops LLC acquired a new position in Grid Dynamics in the second quarter valued at approximately $2,702,000. Bank of America Corp DE boosted its holdings in shares of Grid Dynamics by 76.4% during the 1st quarter. Bank of America Corp DE now owns 364,342 shares of the company’s stock worth $2,077,000 after buying an additional 157,767 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Grid Dynamics by 2.4% during the 1st quarter. Principal Financial Group Inc. now owns 323,773 shares of the company’s stock worth $1,846,000 after buying an additional 7,548 shares in the last quarter. Finally, Quantinno Capital Management LP boosted its holdings in shares of Grid Dynamics by 460.4% during the 1st quarter. Quantinno Capital Management LP now owns 206,289 shares of the company’s stock worth $1,176,000 after buying an additional 169,477 shares in the last quarter. Institutional investors and hedge funds own 71.18% of the company’s stock.

Insiders Place Their Bets

In other Grid Dynamics news, CFO Anil Doradla sold 20,000 shares of the company’s stock in a transaction on Friday, October 30th. The shares were sold at an average price of $10.51, for a total transaction of $210,200.00. Following the transaction, the chief financial officer owned 374,509 shares in the company, valued at approximately $3,936,089.59. This represents a 5.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Yury Gryzlov sold 4,715 shares of the firm’s stock in a transaction on Tuesday, November 3rd. The shares were sold at an average price of $13.55, for a total transaction of $63,888.25. Following the completion of the transaction, the chief operating officer directly owned 480,063 shares in the company, valued at $6,504,853.65. This trade represents a 0.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 49,636 shares of company stock valued at $500,195 in the last 90 days. 6.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on GDYN shares. TD Cowen lifted their price objective on shares of Grid Dynamics from $9.00 to $13.00 and gave the company a “buy” rating in a research note on Friday, October 30th. Wall Street Zen raised shares of Grid Dynamics from a “hold” rating to a “buy” rating in a research note on Saturday. Zacks Research cut shares of Grid Dynamics from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 15th. JPMorgan Chase & Co. raised their price target on shares of Grid Dynamics from $8.00 to $11.00 and gave the stock an “overweight” rating in a report on Friday, October 30th. Finally, Needham & Company LLC lifted their price target on shares of Grid Dynamics from $10.00 to $15.00 and gave the company a “buy” rating in a research note on Friday, October 30th. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Grid Dynamics has an average rating of “Hold” and an average price target of $11.80.

Grid Dynamics Stock Performance

GDYN stock opened at $13.10 on Friday. The stock’s 50 day simple moving average is $8.68 and its 200 day simple moving average is $7.10. Grid Dynamics Holdings, Inc. has a fifty-two week low of $5.11 and a fifty-two week high of $14.02. The company has a market cap of $1.06 billion, a P/E ratio of 145.56 and a beta of 0.88.

Grid Dynamics (NASDAQ:GDYN) last announced its quarterly earnings data on Thursday, October 29th. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.05. Grid Dynamics had a return on equity of 3.24% and a net margin of 1.81%. The firm had revenue of $114.29 million during the quarter, compared to analysts’ expectations of $112.77 million. Equities analysts predict that Grid Dynamics Holdings, Inc. will post 0.26 earnings per share for the current year.

Grid Dynamics Profile

Grid Dynamics Holdings, Inc (NASDAQ: GDYN) is a digital engineering and technology services company that helps enterprises modernize their technology infrastructure and develop data-driven products. Its services include software engineering, cloud computing, data engineering, artificial intelligence and machine learning, user experience design, and application modernization.

The company develops and implements technology solutions for industries including retail and consumer packaged goods, financial services, manufacturing, healthcare, and technology.