Grid Dynamics Holdings, Inc. $GDYN Shares Sold by Comerica Bank

Comerica Bank lowered its position in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 17.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 46,802 shares of the company’s stock after selling 9,744 shares during the quarter. Comerica Bank owned approximately 0.06% of Grid Dynamics worth $732,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State of Wyoming lifted its holdings in shares of Grid Dynamics by 4.1% during the fourth quarter. State of Wyoming now owns 26,495 shares of the company’s stock worth $589,000 after purchasing an additional 1,046 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Grid Dynamics by 3.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,474 shares of the company’s stock worth $722,000 after purchasing an additional 1,106 shares in the last quarter. Arizona State Retirement System increased its position in Grid Dynamics by 7.4% during the 1st quarter. Arizona State Retirement System now owns 19,109 shares of the company’s stock worth $299,000 after purchasing an additional 1,324 shares in the last quarter. PNC Financial Services Group Inc. increased its position in Grid Dynamics by 199.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,293 shares of the company’s stock worth $36,000 after purchasing an additional 1,526 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its position in Grid Dynamics by 28,150.0% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,695 shares of the company’s stock worth $27,000 after purchasing an additional 1,689 shares in the last quarter. Hedge funds and other institutional investors own 71.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on GDYN shares. JPMorgan Chase & Co. dropped their price objective on Grid Dynamics from $13.00 to $11.00 and set an “overweight” rating for the company in a research report on Wednesday, August 20th. Needham & Company LLC lowered their price target on Grid Dynamics from $20.00 to $15.00 and set a “buy” rating for the company in a report on Friday, August 1st. Finally, Wall Street Zen cut Grid Dynamics from a “buy” rating to a “hold” rating in a report on Sunday, July 20th. Four investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $15.75.

Grid Dynamics Price Performance

Shares of GDYN opened at $7.82 on Friday. The business’s fifty day moving average price is $9.42 and its 200 day moving average price is $12.77. Grid Dynamics Holdings, Inc. has a 12-month low of $7.46 and a 12-month high of $25.50. The stock has a market capitalization of $662.12 million, a PE ratio of 41.16 and a beta of 1.03.

Grid Dynamics (NASDAQ:GDYN) last issued its earnings results on Thursday, July 31st. The company reported $0.10 earnings per share for the quarter, hitting the consensus estimate of $0.10. The firm had revenue of $101.10 million for the quarter, compared to analyst estimates of $100.45 million. Grid Dynamics had a return on equity of 1.89% and a net margin of 4.37%.The firm’s revenue for the quarter was up 21.7% on a year-over-year basis. During the same period last year, the company earned $0.08 earnings per share. Grid Dynamics has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, research analysts anticipate that Grid Dynamics Holdings, Inc. will post 0.18 earnings per share for the current fiscal 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.