Summit Creek Advisors LLC Invests $2.45 Million in Grid Dynamics Holdings, Inc. $GDYN

Summit Creek Advisors LLC bought a new position in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) in the 2nd quarter, HoldingsChannel.com reports. The firm bought 431,671 shares of the company’s stock, valued at approximately $2,452,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Amundi acquired a new stake in Grid Dynamics during the first quarter worth approximately $252,000. AQR Capital Management LLC boosted its holdings in shares of Grid Dynamics by 32.4% in the 1st quarter. AQR Capital Management LLC now owns 15,484 shares of the company’s stock valued at $242,000 after buying an additional 3,791 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Grid Dynamics by 12.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,590 shares of the company’s stock valued at $573,000 after buying an additional 4,116 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of Grid Dynamics by 12.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 319,186 shares of the company’s stock valued at $4,995,000 after buying an additional 35,204 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Grid Dynamics by 35.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 162,714 shares of the company’s stock valued at $2,546,000 after buying an additional 42,801 shares during the last quarter. 71.18% of the stock is owned by institutional investors and hedge funds.

Grid Dynamics Price Performance

Shares of Grid Dynamics stock opened at $7.67 on Wednesday. The firm’s fifty day simple moving average is $6.33 and its 200-day simple moving average is $6.41. Grid Dynamics Holdings, Inc. has a 12 month low of $5.11 and a 12 month high of $10.21. The stock has a market capitalization of $622.27 million, a price-to-earnings ratio of 383.69 and a beta of 0.91.

Grid Dynamics (NASDAQ:GDYN) last issued its quarterly earnings results on Thursday, July 30th. The company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.01. Grid Dynamics had a net margin of 0.68% and a return on equity of 1.90%. The firm had revenue of $108.16 million during the quarter, compared to analysts’ expectations of $106.55 million. Analysts anticipate that Grid Dynamics Holdings, Inc. will post 0.13 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on GDYN. Needham & Company LLC boosted their price target on shares of Grid Dynamics from $8.00 to $10.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Citigroup reaffirmed a “cautious” rating on shares of Grid Dynamics in a report on Friday, May 29th. TD Cowen lifted their target price on Grid Dynamics from $8.00 to $9.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Jefferies Financial Group downgraded Grid Dynamics from a “buy” rating to a “hold” rating and set a $8.00 target price for the company. in a report on Friday, May 29th. Finally, JPMorgan Chase & Co. upped their target price on Grid Dynamics from $7.00 to $8.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $9.40.

Insider Activity at Grid Dynamics

In other news, COO Yury Gryzlov sold 3,930 shares of the company’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $8.00, for a total value of $31,440.00. Following the completion of the sale, the chief operating officer directly owned 508,087 shares of the company’s stock, valued at approximately $4,064,696. This represents a 0.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 9,610 shares of company stock valued at $74,751 over the last three months. 6.50% of the stock is currently owned by corporate insiders.

About Grid Dynamics

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.