Riverbridge Partners LLC Sells 66,519 Shares of Grid Dynamics Holdings, Inc. $GDYN

Riverbridge Partners LLC cut its position in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 6.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 919,931 shares of the company’s stock after selling 66,519 shares during the period. Riverbridge Partners LLC owned approximately 1.13% of Grid Dynamics worth $7,249,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Fulcrum Asset Management LLP grew its holdings in Grid Dynamics by 62,642.9% during the 3rd quarter. Fulcrum Asset Management LLP now owns 52,704 shares of the company’s stock valued at $403,000 after purchasing an additional 52,620 shares during the last quarter. Summit Creek Advisors LLC raised its position in Grid Dynamics by 13.1% in the 3rd quarter. Summit Creek Advisors LLC now owns 488,332 shares of the company’s stock worth $3,848,000 after purchasing an additional 56,661 shares during the period. StoneX Group Inc. bought a new stake in Grid Dynamics in the third quarter worth about $120,000. Calamos Advisors LLC bought a new stake in Grid Dynamics in the third quarter worth about $185,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in Grid Dynamics in the third quarter worth about $262,000. 71.18% of the stock is owned by hedge funds and other institutional investors.

Grid Dynamics Trading Up 5.7%

NASDAQ GDYN opened at $14.06 on Wednesday. The stock has a market cap of $1.13 billion, a PE ratio of 156.22 and a beta of 0.88. Grid Dynamics Holdings, Inc. has a 12 month low of $5.11 and a 12 month high of $14.07. The company’s 50-day moving average price is $8.91 and its 200-day moving average price is $7.15.

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

Key Stories Impacting Grid Dynamics

Here are the key news stories impacting Grid Dynamics this week:

• Positive Sentiment: Grid Dynamics was highlighted among stocks showing recent price strength alongside improving earnings estimates, which may be reinforcing investor momentum. Zacks article
• Positive Sentiment: Recent analyst actions included price-target increases from TD Cowen, Needham and JPMorgan, with each maintaining a positive rating. The company’s latest reported quarterly EPS and revenue also topped consensus estimates, providing a fundamental backdrop for the stock’s strength.
• Neutral Sentiment: A report listed short interest at zero shares, suggesting no reported short position to drive potential short-covering. The article’s claim of a significant increase conflicts with that zero figure, so the data should be treated cautiously.
• Negative Sentiment: Director Lloyd Carney reported multiple stock sales, and CFO Anil Doradla sold 1,500 shares. The CFO’s sale was made under a prearranged Rule 10b5-1 plan, and both executives retained substantial holdings; still, insider selling may temper sentiment. Director SEC filing CFO SEC filing
• Negative Sentiment: The reported analyst consensus target of $11.80 is below the recent trading level, a possible valuation headwind despite several firms’ target hikes.

Wall Street Analyst Weigh In

GDYN has been the topic of a number of analyst reports. Wall Street Zen raised Grid Dynamics from a “hold” rating to a “buy” rating in a research note on Saturday. JPMorgan Chase & Co. increased their price target on Grid Dynamics from $8.00 to $11.00 and gave the stock an “overweight” rating in a report on Friday, October 30th. Zacks Research lowered Grid Dynamics from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 15th. TD Cowen boosted their price objective on Grid Dynamics from $9.00 to $13.00 and gave the company a “buy” rating in a report on Friday, October 30th. Finally, Needham & Company LLC boosted their price objective on Grid Dynamics from $10.00 to $15.00 and gave the company a “buy” rating in a report on Friday, October 30th. Four analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Grid Dynamics presently has a consensus rating of “Hold” and a consensus target price of $11.80.

Insiders Place Their Bets

In other news, CFO Anil Doradla sold 20,000 shares of the firm’s stock in a transaction that occurred 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 directly owned 374,509 shares of the company’s stock, valued at approximately $3,936,089.59. This trade represents a 5.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Yury Gryzlov sold 10,512 shares of the firm’s stock in a transaction that occurred on Friday, October 30th. The stock was sold at an average price of $10.51, for a total transaction of $110,481.12. Following the transaction, the chief operating officer directly owned 484,778 shares in the company, valued at approximately $5,095,016.78. This trade represents a 2.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 118,339 shares of company stock worth $1,407,567 in the last three months. Corporate insiders own 6.50% of the company’s stock.

Grid Dynamics Company Profile

Grid Dynamics Holdings, Inc. is a digital engineering and technology consulting company that helps businesses develop and modernize software, data platforms and digital products. Its services include cloud and data engineering, artificial intelligence and machine learning, application development, and digital commerce solutions. The company works with clients across industries to support technology strategy and implementation, including the design, development and operation of digital systems. Grid Dynamics was founded in 2006 and is headquartered in San Ramon, California, with delivery and client operations spanning North America, Europe and Asia.