Riverbridge Partners LLC Sells 260,839 Shares of Grid Dynamics Holdings, Inc. $GDYN

Riverbridge Partners LLC decreased its position in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 13.0% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,745,967 shares of the company’s stock after selling 260,839 shares during the period. Riverbridge Partners LLC owned about 2.06% of Grid Dynamics worth $15,766,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in GDYN. Amundi purchased a new position in Grid Dynamics during the first quarter valued at $252,000. AQR Capital Management LLC grew its position 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 worth $242,000 after buying an additional 3,791 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased 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 acquiring an additional 4,116 shares in the last quarter. Goldman Sachs Group Inc. increased its stake 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 acquiring an additional 35,204 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Grid Dynamics by 35.7% during 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 acquiring an additional 42,801 shares during the period. Institutional investors own 71.18% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Weiss Ratings restated a “hold (c-)” rating on shares of Grid Dynamics in a report on Monday. Northland Securities lowered their target price on shares of Grid Dynamics from $14.00 to $12.00 and set an “outperform” rating for the company in a report on Monday, March 9th. Zacks Research cut Grid Dynamics from a “hold” rating to a “strong sell” rating in a research report on Monday, March 9th. Needham & Company LLC cut their price target on Grid Dynamics from $13.00 to $10.00 and set a “buy” rating on the stock in a research note on Friday, March 6th. Finally, JPMorgan Chase & Co. reduced their price objective on Grid Dynamics from $10.00 to $9.00 and set an “overweight” rating for the company in a research report on Wednesday, February 18th. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $10.60.

Grid Dynamics Price Performance

Shares of Grid Dynamics stock opened at $5.72 on Friday. Grid Dynamics Holdings, Inc. has a 1 year low of $5.50 and a 1 year high of $16.80. The firm’s 50-day moving average is $7.05 and its 200 day moving average is $8.07. The stock has a market cap of $488.22 million, a price-to-earnings ratio of 57.20 and a beta of 0.84.

Grid Dynamics (NASDAQ:GDYN) last released its quarterly earnings data on Thursday, March 5th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. The business had revenue of $106.15 million during the quarter, compared to analyst estimates of $105.92 million. Grid Dynamics had a net margin of 2.35% and a return on equity of 1.46%. Grid Dynamics’s revenue was up 5.9% compared to the same quarter last year. During the same period last year, the business earned $0.12 EPS. On average, equities analysts expect that Grid Dynamics Holdings, Inc. will post 0.18 EPS for the current fiscal year.

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.