ExodusPoint Capital Management LP cut its position in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN – Free Report) by 15.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 55,515 shares of the company’s stock after selling 10,254 shares during the quarter. ExodusPoint Capital Management LP owned about 0.07% of Grid Dynamics worth $636,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Inc. raised its holdings in Grid Dynamics by 0.8% in the third quarter. BlackRock Inc. now owns 5,585,887 shares of the company’s stock valued at $104,626,000 after buying an additional 43,436 shares during the period. Wasatch Advisors Inc. raised its position in Grid Dynamics by 101.7% in the first quarter. Wasatch Advisors Inc. now owns 5,128,874 shares of the company’s stock valued at $72,215,000 after purchasing an additional 2,585,803 shares during the period. Bamco Inc. NY lifted its position in Grid Dynamics by 17.6% during the 4th quarter. Bamco Inc. NY now owns 3,000,000 shares of the company’s stock worth $33,660,000 after acquiring an additional 450,000 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Grid Dynamics by 13.0% in the 3rd quarter. Vanguard Group Inc. now owns 2,752,072 shares of the company’s stock worth $51,546,000 after buying an additional 316,138 shares in the last quarter. Finally, Jennison Associates LLC boosted its holdings in Grid Dynamics by 0.5% in the first quarter. Jennison Associates LLC now owns 2,690,632 shares of the company’s stock valued at $30,835,000 after purchasing an additional 13,376 shares during the last quarter. 69.68% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
GDYN has been the topic of several research reports. Cantor Fitzgerald dropped their price target on Grid Dynamics from $17.00 to $14.00 and set an “overweight” rating on the stock in a research report on Thursday, July 20th. JPMorgan Chase & Co. raised their price objective on shares of Grid Dynamics from $11.00 to $14.00 and gave the company an “overweight” rating in a research note on Tuesday, August 22nd. Finally, Needham & Company LLC restated a “buy” rating and issued a $14.00 target price on shares of Grid Dynamics in a research report on Friday, August 4th. Four investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $14.00.
Grid Dynamics Price Performance
NASDAQ GDYN opened at $11.84 on Thursday. The company has a market capitalization of $892.03 million, a P/E ratio of -43.85 and a beta of 0.80. Grid Dynamics Holdings, Inc. has a 12 month low of $8.00 and a 12 month high of $20.24. The company’s 50 day simple moving average is $10.71 and its 200 day simple moving average is $10.52.
Grid Dynamics (NASDAQ:GDYN – Get Free Report) last issued its earnings results on Thursday, August 3rd. The company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.08 by $0.01. Grid Dynamics had a positive return on equity of 9.71% and a negative net margin of 5.86%. The business had revenue of $77.30 million during the quarter, compared to analysts’ expectations of $76.36 million. During the same quarter last year, the firm posted $0.12 earnings per share. Grid Dynamics’s revenue was up .0% compared to the same quarter last year. On average, analysts anticipate that Grid Dynamics Holdings, Inc. will post 0.14 earnings per share for the current year.
About Grid Dynamics
Grid Dynamics Holdings, Inc, together with its subsidiaries, provides enterprise-level digital transformation services in the areas of search, analytics, and release automation for Fortune 1000 corporations in North America, Europe, and internationally. It works in collaboration with its clients on digital transformation initiatives that cover strategy consulting, early prototypes, and enterprise-scale delivery of new digital platforms.
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