155,051 Shares in Grid Dynamics Holdings, Inc. $GDYN Acquired by Pacer Advisors Inc.

Pacer Advisors Inc. purchased a new stake in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 155,051 shares of the company’s stock, valued at approximately $884,000.

Several other hedge funds have also added to or reduced their stakes in the business. Bank of America Corp DE boosted its position in Grid Dynamics by 76.4% during the first quarter. Bank of America Corp DE now owns 364,342 shares of the company’s stock worth $2,077,000 after purchasing an additional 157,767 shares during the period. Quantinno Capital Management LP raised its position in shares of Grid Dynamics by 460.4% in the first quarter. Quantinno Capital Management LP now owns 206,289 shares of the company’s stock valued at $1,176,000 after purchasing an additional 169,477 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in shares of Grid Dynamics during the 1st quarter worth about $235,000. Walleye Capital LLC acquired a new stake in shares of Grid Dynamics during the 1st quarter worth about $1,007,000. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of Grid Dynamics by 60.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 8,315 shares of the company’s stock worth $47,000 after buying an additional 3,122 shares during the period. Institutional investors and hedge funds own 71.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Needham & Company LLC upped their price target on shares of Grid Dynamics from $8.00 to $10.00 and gave the company a “buy” rating in a research note on Friday, July 31st. JPMorgan Chase & Co. boosted their price objective on Grid Dynamics from $7.00 to $8.00 and gave the stock an “overweight” rating in a report on Friday, July 31st. Jefferies Financial Group downgraded Grid Dynamics from a “buy” rating to a “hold” rating and set a $8.00 target price on the stock. in a research report on Friday, May 29th. Weiss Ratings reiterated a “sell (d)” rating on shares of Grid Dynamics in a research note on Friday, July 31st. Finally, Zacks Research raised Grid Dynamics from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $9.40.

Insider Activity at Grid Dynamics

In other news, COO Yury Gryzlov sold 4,435 shares of Grid Dynamics stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $8.00, for a total value of $35,480.00. Following the completion of the sale, the chief operating officer directly owned 514,948 shares in the company, valued at approximately $4,119,584. The trade was a 0.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 6,147 shares of company stock worth $46,323 over the last quarter. 6.50% of the stock is currently owned by company insiders.

Grid Dynamics Stock Performance

GDYN stock opened at $7.58 on Monday. Grid Dynamics Holdings, Inc. has a 52 week low of $5.11 and a 52 week high of $10.21. The company has a market capitalization of $614.97 million, a PE ratio of 379.19 and a beta of 0.91. The company’s 50-day simple moving average is $6.21 and its 200 day simple moving average is $6.46.

Grid Dynamics (NASDAQ:GDYN) last issued its quarterly earnings data on Thursday, July 30th. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.01. The business had revenue of $108.16 million during the quarter, compared to analysts’ expectations of $106.55 million. Grid Dynamics had a net margin of 0.68% and a return on equity of 1.90%. On average, analysts forecast that Grid Dynamics Holdings, Inc. will post 0.13 EPS for the current year.

Grid Dynamics Company 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.