Summit Creek Advisors LLC Reduces Stock Holdings in Grid Dynamics Holdings, Inc. $GDYN

by · The Markets Daily

Summit Creek Advisors LLC lessened its holdings in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN – Free Report) by 4.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 770,585 shares of the company’s stock after selling 33,709 shares during the quarter. Summit Creek Advisors LLC owned 0.91% of Grid Dynamics worth $8,900,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd grew its position in Grid Dynamics by 28,150.0% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,695 shares of the company’s stock worth $27,000 after purchasing an additional 1,689 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in Grid Dynamics by 199.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,293 shares of the company’s stock worth $36,000 after buying an additional 1,526 shares during the period. Teacher Retirement System of Texas purchased a new position in Grid Dynamics during the 2nd quarter worth approximately $117,000. Cetera Investment Advisers boosted its holdings in shares of Grid Dynamics by 29.3% in the 1st quarter. Cetera Investment Advisers now owns 11,639 shares of the company’s stock valued at $182,000 after acquiring an additional 2,640 shares during the last quarter. Finally, Virtu Financial LLC acquired a new stake in shares of Grid Dynamics in the first quarter worth $183,000. Institutional investors and hedge funds own 71.18% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on GDYN shares. Wall Street Zen cut shares of Grid Dynamics from a “buy” rating to a “hold” rating in a research note on Sunday, July 20th. Jefferies Financial Group assumed coverage on shares of Grid Dynamics in a research note on Monday, September 22nd. They issued a “buy” rating and a $11.00 target price on the stock. Needham & Company LLC reduced their target price on shares of Grid Dynamics from $15.00 to $13.00 and set a “buy” rating on the stock in a research note on Friday, October 31st. Weiss Ratings reissued a “sell (d+)” rating on shares of Grid Dynamics in a research report on Wednesday, October 8th. Finally, Zacks Research raised Grid Dynamics from a “strong sell” rating to a “hold” rating in a research note on Monday, October 6th. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $11.33.

View Our Latest Stock Report on Grid Dynamics

Grid Dynamics Trading Up 1.8%

Shares of GDYN opened at $8.97 on Thursday. The stock’s 50 day moving average is $8.01 and its two-hundred day moving average is $10.23. The firm has a market capitalization of $759.49 million, a PE ratio of 59.80 and a beta of 1.07. Grid Dynamics Holdings, Inc. has a twelve month low of $7.37 and a twelve month high of $25.50.

Grid Dynamics (NASDAQ:GDYN – Get Free Report) last released its quarterly earnings results on Thursday, October 30th. The company reported $0.09 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.09. Grid Dynamics had a return on equity of 1.74% and a net margin of 3.42%.The business had revenue of $104.16 million for the quarter, compared to analysts’ expectations of $103.64 million. During the same quarter in the prior year, the firm posted $0.14 EPS. The company’s revenue was up 19.1% compared to the same quarter last year. Grid Dynamics has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. On average, sell-side analysts predict that Grid Dynamics Holdings, Inc. will post 0.18 EPS for the current year.

About Grid Dynamics

(Free Report)

Grid Dynamics Holdings, Inc, together with its subsidiaries, provides technology consulting, platform and product engineering, and analytics services in North America, Europe, and internationally. It offers cloud platform and product engineering services, such as architecting, designing, and building scalable and secure cloud-based platforms and business applications; and AI/machine learning and data platform engineering services that build platforms to facilitate batch and streaming data ingestion, quality governance, orchestration, semantic modeling, observability, and analysis at scale.

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