Grid Dynamics (NASDAQ:GDYN) Trading Down 4.2%

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) traded down 4.2% during mid-day trading on Tuesday . The company traded as low as $11.73 and last traded at $11.85. 301,175 shares changed hands during mid-day trading, an increase of 7% from the average session volume of 280,586 shares. The stock had previously closed at $12.37.

Analyst Ratings Changes

A number of brokerages recently commented on GDYN. Citigroup boosted their price objective on shares of Grid Dynamics from $16.00 to $17.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. JPMorgan Chase & Co. boosted their price objective on shares of Grid Dynamics from $16.00 to $17.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. Cantor Fitzgerald upped their price target on Grid Dynamics from $14.00 to $17.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 13th. Finally, TheStreet raised Grid Dynamics from a “d+” rating to a “c-” rating in a research report on Tuesday, December 12th. Four investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $16.25.

Grid Dynamics Stock Up 0.4 %

The business has a 50-day moving average price of $13.13 and a 200-day moving average price of $12.57. The firm has a market capitalization of $933.67 million, a price-to-earnings ratio of -410.53 and a beta of 0.96.

Grid Dynamics (NASDAQ:GDYN) last released its earnings results on Thursday, February 22nd. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.01). Grid Dynamics had a negative net margin of 0.56% and a positive return on equity of 6.77%. The firm had revenue of $78.07 million during the quarter, compared to analyst estimates of $76.64 million. During the same period in the previous year, the company earned $0.14 earnings per share. Grid Dynamics’s revenue was down 3.1% on a year-over-year basis. On average, equities research analysts forecast that Grid Dynamics Holdings, Inc. will post 0.08 earnings per share for the current year.

Insider Activity at Grid Dynamics

In related news, CEO Leonard Livschitz sold 15,000 shares of the company’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $13.88, for a total value of $208,200.00. Following the transaction, the chief executive officer now directly owns 3,760,474 shares of the company’s stock, valued at approximately $52,195,379.12. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Grid Dynamics news, CEO Leonard Livschitz sold 15,000 shares of the company’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $13.88, for a total value of $208,200.00. Following the sale, the chief executive officer now directly owns 3,760,474 shares of the company’s stock, valued at $52,195,379.12. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Anil Doradla sold 4,000 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $13.26, for a total transaction of $53,040.00. Following the completion of the sale, the chief financial officer now directly owns 395,568 shares in the company, valued at $5,245,231.68. The disclosure for this sale can be found here. Insiders have sold a total of 109,884 shares of company stock valued at $1,418,925 in the last ninety days. Company insiders own 7.40% of the company’s stock.

Institutional Investors Weigh In On Grid Dynamics

Several hedge funds have recently modified their holdings of the company. Wasatch Advisors LP boosted its stake in shares of Grid Dynamics by 2.8% during the 4th quarter. Wasatch Advisors LP now owns 7,256,928 shares of the company’s stock worth $96,735,000 after acquiring an additional 197,063 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Grid Dynamics by 0.8% during the 3rd quarter. BlackRock Inc. now owns 5,585,887 shares of the company’s stock worth $104,626,000 after acquiring an additional 43,436 shares in the last quarter. Wasatch Advisors Inc. boosted its stake in shares of Grid Dynamics by 101.7% during the 1st quarter. Wasatch Advisors Inc. now owns 5,128,874 shares of the company’s stock worth $72,215,000 after acquiring an additional 2,585,803 shares in the last quarter. Vanguard Group Inc. lifted its stake in Grid Dynamics by 3.3% in the 4th quarter. Vanguard Group Inc. now owns 4,137,712 shares of the company’s stock valued at $55,156,000 after buying an additional 130,342 shares in the last quarter. Finally, Bamco Inc. NY lifted its stake in Grid Dynamics by 17.6% in the 4th quarter. Bamco Inc. NY now owns 3,000,000 shares of the company’s stock valued at $33,660,000 after buying an additional 450,000 shares in the last quarter. 71.18% of the stock is owned by hedge funds and other institutional investors.

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.