Squarepoint Ops LLC Acquires New Shares in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Squarepoint Ops LLC acquired a new stake in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 18,132 shares of the company’s stock, valued at approximately $191,000.

Other large investors have also bought and sold shares of the company. Fourth Sail Capital LP boosted its stake in shares of Grid Dynamics by 138.0% during the second quarter. Fourth Sail Capital LP now owns 769,924 shares of the company’s stock valued at $8,092,000 after purchasing an additional 446,477 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Grid Dynamics by 26.7% during the fourth quarter. Wellington Management Group LLP now owns 1,878,946 shares of the company’s stock valued at $25,046,000 after purchasing an additional 396,320 shares in the last quarter. Wasatch Advisors LP boosted its stake in shares of Grid Dynamics by 4.9% during the first quarter. Wasatch Advisors LP now owns 7,614,713 shares of the company’s stock valued at $93,585,000 after purchasing an additional 357,785 shares in the last quarter. Summit Creek Advisors LLC boosted its stake in shares of Grid Dynamics by 25.1% during the second quarter. Summit Creek Advisors LLC now owns 1,147,992 shares of the company’s stock valued at $12,065,000 after purchasing an additional 230,688 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Grid Dynamics by 14.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,672,906 shares of the company’s stock valued at $17,581,000 after purchasing an additional 206,201 shares in the last quarter. 71.18% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. TD Cowen raised Grid Dynamics from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $12.00 to $16.00 in a research note on Friday, August 2nd. Cantor Fitzgerald raised Grid Dynamics to a “strong-buy” rating in a research note on Monday, August 12th. Citigroup cut their price objective on Grid Dynamics from $15.00 to $14.00 and set a “buy” rating on the stock in a research note on Friday, July 12th. JPMorgan Chase & Co. lifted their price objective on Grid Dynamics from $15.00 to $17.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. Finally, Needham & Company LLC lifted their price objective on Grid Dynamics from $16.00 to $17.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $15.67.

Grid Dynamics Stock Performance

Shares of GDYN stock opened at $14.78 on Monday. The company has a market cap of $1.13 billion, a P/E ratio of -1,476.52 and a beta of 1.06. The stock has a 50 day simple moving average of $13.81 and a two-hundred day simple moving average of $11.79. Grid Dynamics Holdings, Inc. has a fifty-two week low of $9.07 and a fifty-two week high of $15.11.

Grid Dynamics (NASDAQ:GDYN) last issued its earnings results on Thursday, August 1st. The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. The business had revenue of $83.04 million during the quarter, compared to the consensus estimate of $81.06 million. Grid Dynamics had a positive return on equity of 1.05% and a negative net margin of 0.37%. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.09 earnings per share.

Insider Transactions at Grid Dynamics

In other news, CEO Leonard Livschitz sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $11.63, for a total transaction of $116,300.00. Following the transaction, the chief executive officer now directly owns 3,555,901 shares of the company’s stock, valued at $41,355,128.63. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CEO Leonard Livschitz sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $11.63, for a total transaction of $116,300.00. Following the transaction, the chief executive officer now directly owns 3,555,901 shares of the company’s stock, valued at $41,355,128.63. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Teamsun Technology Co. Beijing sold 913,387 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $12.80, for a total value of $11,691,353.60. Following the transaction, the insider now directly owns 13,889,183 shares in the company, valued at $177,781,542.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 971,387 shares of company stock valued at $12,466,214 over the last ninety days. 7.40% of the stock is owned by company insiders.

Grid Dynamics 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.