New York Life Investment Management LLC Sells 4,895 Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

New York Life Investment Management LLC trimmed its holdings in Grid Dynamics Holdings, Inc. (NASDAQ:GDYNFree Report) by 13.6% during the 3rd quarter, Holdings Channel.com reports. The fund owned 31,068 shares of the company’s stock after selling 4,895 shares during the period. New York Life Investment Management LLC’s holdings in Grid Dynamics were worth $378,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Wasatch Advisors LP lifted its position in shares of Grid Dynamics by 26.6% in the second quarter. Wasatch Advisors LP now owns 7,225,346 shares of the company’s stock valued at $66,834,000 after acquiring an additional 1,517,395 shares in the last quarter. BlackRock Inc. lifted its position in shares of Grid Dynamics by 0.8% in the third quarter. BlackRock Inc. now owns 5,585,887 shares of the company’s stock worth $104,626,000 after buying an additional 43,436 shares in the last quarter. Wasatch Advisors Inc. lifted its position in shares of Grid Dynamics by 101.7% in the first quarter. Wasatch Advisors Inc. now owns 5,128,874 shares of the company’s stock worth $72,215,000 after buying an additional 2,585,803 shares in the last quarter. Bamco Inc. NY lifted its position in shares of Grid Dynamics by 17.6% in the fourth quarter. Bamco Inc. NY now owns 3,000,000 shares of the company’s stock worth $33,660,000 after buying an additional 450,000 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Grid Dynamics by 13.0% in the third quarter. Vanguard Group Inc. now owns 2,752,072 shares of the company’s stock worth $51,546,000 after buying an additional 316,138 shares in the last quarter. 69.68% of the stock is currently owned by hedge funds and other institutional investors.

Grid Dynamics Price Performance

NASDAQ:GDYN opened at $14.05 on Monday. The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of -87.81 and a beta of 0.96. Grid Dynamics Holdings, Inc. has a 1 year low of $8.00 and a 1 year high of $14.23. The business has a 50 day simple moving average of $13.16 and a 200-day simple moving average of $12.12.

Insider Activity

In other news, Director Lloyd Carney sold 18,400 shares of the firm’s stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $11.61, for a total value of $213,624.00. Following the completion of the sale, the director now directly owns 659,262 shares of the company’s stock, valued at approximately $7,654,031.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Anil Doradla sold 4,000 shares of the stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $12.49, for a total value of $49,960.00. Following the sale, the chief financial officer now directly owns 328,925 shares in the company, valued at $4,108,273.25. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Lloyd Carney sold 18,400 shares of the stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $11.61, for a total value of $213,624.00. Following the completion of the sale, the director now owns 659,262 shares in the company, valued at $7,654,031.82. The disclosure for this sale can be found here. Insiders sold 86,400 shares of company stock valued at $1,100,704 in the last ninety days. Insiders own 7.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. TheStreet upgraded Grid Dynamics from a “d+” rating to a “c-” rating in a research report on Tuesday, December 12th. Citigroup boosted their target price on Grid Dynamics from $14.00 to $16.00 and gave the stock a “buy” rating in a research report on Wednesday, January 17th. Needham & Company LLC reiterated a “buy” rating and issued a $14.00 target price on shares of Grid Dynamics in a research report on Monday, November 20th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $14.00 price objective on shares of Grid Dynamics in a research note on Friday, November 17th. Four investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Grid Dynamics currently has a consensus rating of “Buy” and a consensus target price of $14.50.

View Our Latest Stock Report on GDYN

Grid Dynamics Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Grid Dynamics (NASDAQ:GDYN)

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