Summit Creek Advisors LLC Raises Stock Position in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Summit Creek Advisors LLC increased its holdings in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 25.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,147,992 shares of the company’s stock after purchasing an additional 230,688 shares during the period. Summit Creek Advisors LLC owned 1.50% of Grid Dynamics worth $12,065,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. Mirador Capital Partners LP lifted its stake in shares of Grid Dynamics by 0.8% during the second quarter. Mirador Capital Partners LP now owns 123,399 shares of the company’s stock worth $1,297,000 after purchasing an additional 954 shares in the last quarter. Linden Thomas Advisory Services LLC lifted its position in Grid Dynamics by 1.7% during the 2nd quarter. Linden Thomas Advisory Services LLC now owns 106,498 shares of the company’s stock worth $1,119,000 after acquiring an additional 1,735 shares in the last quarter. Harbor Capital Advisors Inc. boosted its holdings in Grid Dynamics by 21.3% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 10,073 shares of the company’s stock worth $106,000 after acquiring an additional 1,770 shares during the period. Price T Rowe Associates Inc. MD grew its position in Grid Dynamics by 8.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 25,546 shares of the company’s stock valued at $314,000 after acquiring an additional 1,985 shares in the last quarter. Finally, New York State Common Retirement Fund grew its position in Grid Dynamics by 13.3% in the fourth quarter. New York State Common Retirement Fund now owns 20,786 shares of the company’s stock valued at $277,000 after acquiring an additional 2,434 shares in the last quarter. 71.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Grid Dynamics news, CEO Leonard Livschitz sold 10,000 shares of the business’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $9.66, for a total transaction of $96,600.00. Following the completion of the sale, the chief executive officer now owns 3,575,901 shares in the company, valued at $34,543,203.66. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Grid Dynamics news, CFO Anil Doradla sold 3,000 shares of the firm’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $10.00, for a total value of $30,000.00. Following the transaction, the chief financial officer now owns 375,282 shares of the company’s stock, valued at $3,752,820. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Leonard Livschitz sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $9.66, for a total value of $96,600.00. Following the transaction, the chief executive officer now directly owns 3,575,901 shares of the company’s stock, valued at $34,543,203.66. The disclosure for this sale can be found here. Insiders have sold 54,000 shares of company stock worth $612,200 over the last ninety days. 7.40% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Cantor Fitzgerald upgraded shares of Grid Dynamics to a “strong-buy” rating in a research note on Monday, August 12th. Citigroup decreased their price objective on shares of Grid Dynamics from $15.00 to $14.00 and set a “buy” rating for the company in a research report on Friday, July 12th. TD Cowen upgraded Grid Dynamics from a “hold” rating to a “buy” rating and raised their target price for the company from $12.00 to $16.00 in a research note on Friday, August 2nd. Needham & Company LLC boosted their price target on Grid Dynamics from $16.00 to $17.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Finally, Wedbush reissued an “outperform” rating and issued a $13.00 price target on shares of Grid Dynamics in a report on Thursday, May 23rd. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $15.33.

Grid Dynamics Stock Performance

Shares of GDYN stock opened at $14.06 on Friday. The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of 468.67 and a beta of 1.06. Grid Dynamics Holdings, Inc. has a one year low of $9.07 and a one year high of $14.70. The company’s 50-day simple moving average is $12.53 and its 200-day simple moving average is $11.61.

Grid Dynamics (NASDAQ:GDYN) last released its earnings results on Thursday, August 1st. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. Grid Dynamics had a positive return on equity of 1.05% and a negative net margin of 0.37%. The company had revenue of $83.04 million for the quarter, compared to the consensus estimate of $81.06 million. During the same quarter last year, the business posted $0.09 EPS. Grid Dynamics’s quarterly revenue was up 7.4% compared to the same quarter last year. As a group, research analysts forecast that Grid Dynamics Holdings, Inc. will post 0.02 EPS for the current year.

Grid Dynamics Company Profile

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.