Royal Bank of Canada Decreases Stock Holdings in Grid Dynamics Holdings, Inc. $GDYN

Royal Bank of Canada reduced its position in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 16.5% in the first quarter, according to its most recent filing with the SEC. The fund owned 1,312,624 shares of the company’s stock after selling 259,119 shares during the quarter. Royal Bank of Canada owned about 1.57% of Grid Dynamics worth $7,482,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Amundi bought a new stake in Grid Dynamics in the first quarter worth $252,000. AQR Capital Management LLC lifted its position in Grid Dynamics by 32.4% during the first quarter. AQR Capital Management LLC now owns 15,484 shares of the company’s stock valued at $242,000 after purchasing an additional 3,791 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake 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 worth $573,000 after buying an additional 4,116 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings 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 worth $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 increased its holdings 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 worth $2,546,000 after buying an additional 42,801 shares during the last quarter. 71.18% of the stock is owned by hedge funds and other institutional investors.

Grid Dynamics Price Performance

Shares of NASDAQ:GDYN opened at $7.66 on Tuesday. Grid Dynamics Holdings, Inc. has a 1 year low of $5.11 and a 1 year high of $10.21. The business has a 50 day simple moving average of $6.21 and a two-hundred day simple moving average of $6.45. The firm has a market capitalization of $621.46 million, a PE ratio of 383.19 and a beta of 0.91.

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

Wall Street Analyst Weigh In

A number of brokerages recently commented on GDYN. Zacks Research raised shares of Grid Dynamics from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 5th. Citigroup reissued a “cautious” rating on shares of Grid Dynamics in a research note on Friday, May 29th. Needham & Company LLC upped their price objective on Grid Dynamics from $8.00 to $10.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Jefferies Financial Group lowered Grid Dynamics from a “buy” rating to a “hold” rating and set a $8.00 price objective for the company. in a research note on Friday, May 29th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Grid Dynamics in a report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $9.40.

Insider Buying and Selling

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

Grid Dynamics 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.