Grid Dynamics (NASDAQ:GDYN) Sees Large Volume Increase

Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) saw strong trading volume on Tuesday . 192,155 shares traded hands during trading, a decline of 35% from the previous session’s volume of 295,348 shares.The stock last traded at $10.52 and had previously closed at $10.64.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Cantor Fitzgerald upped their target price on Grid Dynamics from $14.00 to $17.00 and gave the company an “overweight” rating in a research report on Wednesday, March 13th. JPMorgan Chase & Co. increased their price target on Grid Dynamics from $16.00 to $17.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. Finally, Citigroup increased their price target on Grid Dynamics from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. Four analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $16.25.

Grid Dynamics Stock Down 3.1 %

The company has a 50-day moving average of $12.64 and a 200 day moving average of $12.52. The firm has a market capitalization of $774.93 million, a PE ratio of -340.00 and a beta of 0.94.

Grid Dynamics (NASDAQ:GDYN) last posted its earnings results on Thursday, February 22nd. The company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.01). Grid Dynamics had a positive return on equity of 6.77% and a negative net margin of 0.56%. The business had revenue of $78.07 million for the quarter, compared to analysts’ expectations of $76.64 million. During the same quarter in the previous year, the firm earned $0.14 earnings per share. Grid Dynamics’s quarterly revenue was down 3.1% compared to the same quarter last year. As a group, equities analysts anticipate that Grid Dynamics Holdings, Inc. will post 0.07 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Leonard Livschitz sold 15,000 shares of the business’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $13.88, for a total transaction of $208,200.00. Following the completion of the transaction, the chief executive officer now directly owns 3,760,474 shares in the company, valued at $52,195,379.12. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, CEO Leonard Livschitz sold 15,000 shares of the company’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $13.88, for a total value of $208,200.00. Following the completion of the transaction, the chief executive officer now directly owns 3,760,474 shares in the company, valued at approximately $52,195,379.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Anil Doradla sold 4,000 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $13.26, for a total value of $53,040.00. Following the completion of the transaction, the chief financial officer now owns 395,568 shares of the company’s stock, valued at $5,245,231.68. The disclosure for this sale can be found here. Insiders sold a total of 90,884 shares of company stock worth $1,159,755 over the last ninety days. 7.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Grid Dynamics

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Wellington Management Group LLP lifted its stake in shares of Grid Dynamics by 113.9% in the 3rd quarter. Wellington Management Group LLP now owns 1,482,626 shares of the company’s stock valued at $18,058,000 after acquiring an additional 789,373 shares during the last quarter. Public Employees Retirement System of Ohio raised its position in Grid Dynamics by 5.8% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 271,591 shares of the company’s stock valued at $3,308,000 after purchasing an additional 14,940 shares during the last quarter. Barclays PLC raised its position in Grid Dynamics by 8.5% during the 3rd quarter. Barclays PLC now owns 26,063 shares of the company’s stock valued at $318,000 after purchasing an additional 2,036 shares during the last quarter. S Squared Technology LLC raised its position in Grid Dynamics by 13.5% during the 3rd quarter. S Squared Technology LLC now owns 229,781 shares of the company’s stock valued at $2,799,000 after purchasing an additional 27,257 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Grid Dynamics by 7.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 428,407 shares of the company’s stock valued at $5,218,000 after purchasing an additional 29,892 shares during the last quarter. 71.18% of the stock is currently owned by hedge funds and other institutional investors.

About Grid Dynamics

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.