Grid Dynamics (NASDAQ:GDYN) Earns Overweight Rating from Cantor Fitzgerald

Cantor Fitzgerald reissued their overweight rating on shares of Grid Dynamics (NASDAQ:GDYN) in a research note issued to investors on Friday morning, Benzinga reports. Cantor Fitzgerald currently has a $14.00 target price on the stock.

A number of other brokerages also recently weighed in on GDYN. Needham & Company LLC reaffirmed a buy rating and issued a $14.00 target price on shares of Grid Dynamics in a report on Friday, August 4th. JPMorgan Chase & Co. raised their target price on Grid Dynamics from $11.00 to $14.00 and gave the company an overweight rating in a report on Tuesday, August 22nd. Four analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of Buy and a consensus price target of $14.00.

Grid Dynamics Price Performance

Shares of GDYN opened at $12.15 on Friday. The firm has a 50 day simple moving average of $11.64 and a two-hundred day simple moving average of $10.62. Grid Dynamics has a one year low of $8.00 and a one year high of $14.16. The company has a market cap of $918.42 million, a P/E ratio of -75.94 and a beta of 0.80.

Insider Activity at Grid Dynamics

In related news, Director Lloyd Carney sold 18,400 shares of the firm’s stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $11.61, for a total transaction of $213,624.00. Following the completion of the transaction, the director now directly owns 659,262 shares of the company’s stock, valued at approximately $7,654,031.82. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 7.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of GDYN. UBS Group AG raised its position in shares of Grid Dynamics by 412.4% in the 3rd quarter. UBS Group AG now owns 2,275 shares of the company’s stock worth $43,000 after acquiring an additional 1,831 shares in the last quarter. Arcadia Investment Management Corp MI raised its position in shares of Grid Dynamics by 131.0% in the 1st quarter. Arcadia Investment Management Corp MI now owns 3,946 shares of the company’s stock worth $45,000 after acquiring an additional 2,238 shares in the last quarter. Tower Research Capital LLC TRC raised its position in shares of Grid Dynamics by 191.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,478 shares of the company’s stock worth $41,000 after acquiring an additional 2,944 shares in the last quarter. Captrust Financial Advisors raised its position in shares of Grid Dynamics by 197.2% in the 2nd quarter. Captrust Financial Advisors now owns 4,619 shares of the company’s stock worth $78,000 after acquiring an additional 3,065 shares in the last quarter. Finally, Acadian Asset Management LLC raised its position in shares of Grid Dynamics by 239.0% in the 1st quarter. Acadian Asset Management LLC now owns 5,837 shares of the company’s stock worth $82,000 after acquiring an additional 4,115 shares in the last quarter. 69.68% of the stock is owned by institutional investors.

Grid Dynamics Company Profile

Grid Dynamics Holdings, Inc, together with its subsidiaries, provides enterprise-level digital transformation services in the areas of search, analytics, and release automation for Fortune 1000 corporations in North America, Europe, and internationally. It works in collaboration with its clients on digital transformation initiatives that cover strategy consulting, early prototypes, and enterprise-scale delivery of new digital platforms.