Sei Investments Co. Decreases Holdings in Grid Dynamics Holdings, Inc. $GDYN

Sei Investments Co. lowered its position in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 37.5% during the first quarter, HoldingsChannel.com reports. The fund owned 281,449 shares of the company’s stock after selling 168,842 shares during the quarter. Sei Investments Co.’s holdings in Grid Dynamics were worth $1,604,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Banco BTG Pactual S.A. acquired a new position in shares of Grid Dynamics during the 4th quarter worth $2,574,000. Walleye Capital LLC acquired a new stake in Grid Dynamics in the 1st quarter valued at about $1,007,000. Royce & Associates LP purchased a new position in Grid Dynamics during the 4th quarter valued at about $5,970,000. 1492 Capital Management LLC raised its position in Grid Dynamics by 40.8% during the fourth quarter. 1492 Capital Management LLC now owns 809,951 shares of the company’s stock worth $7,314,000 after acquiring an additional 234,694 shares during the last quarter. Finally, P.A.W. Capital Corp purchased a new stake in shares of Grid Dynamics in the fourth quarter valued at about $903,000. 71.18% of the stock is owned by institutional investors and hedge funds.

Grid Dynamics Stock Up 1.1%

Shares of NASDAQ:GDYN opened at $7.66 on Tuesday. The company has a market cap of $621.46 million, a P/E ratio of 383.19 and a beta of 0.91. The business has a fifty day simple moving average of $6.21 and a 200-day simple moving average of $6.45. Grid Dynamics Holdings, Inc. has a 52 week low of $5.11 and a 52 week high of $10.21.

Grid Dynamics (NASDAQ:GDYN) last issued its quarterly earnings results on Thursday, July 30th. The company reported $0.11 earnings per share (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 return on equity of 1.90% and a net margin of 0.68%. Sell-side analysts expect that Grid Dynamics Holdings, Inc. will post 0.13 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on GDYN. JPMorgan Chase & Co. raised their price objective on shares of Grid Dynamics from $7.00 to $8.00 and gave the stock an “overweight” rating in a research note on Friday, July 31st. TD Cowen increased their target price on Grid Dynamics from $8.00 to $9.00 and gave the company a “buy” rating in a report on Friday, July 31st. Zacks Research raised Grid Dynamics from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 5th. Citigroup reissued a “cautious” rating on shares of Grid Dynamics in a report on Friday, May 29th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Grid Dynamics in a research report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Grid Dynamics has a consensus rating of “Moderate Buy” and an average target price of $9.40.

Insider Buying and Selling at Grid Dynamics

In other news, COO Yury Gryzlov sold 4,435 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $8.00, for a total transaction of $35,480.00. Following the transaction, the chief operating officer directly owned 514,948 shares in the company, valued at $4,119,584. This represents a 0.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 6,147 shares of company stock worth $46,323. Corporate insiders own 6.50% of the company’s stock.

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.