Grid Dynamics (NASDAQ:GDYN) Sees Large Volume Increase

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) shares saw unusually-high trading volume on Tuesday . Approximately 192,155 shares traded hands during mid-day 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.

Analysts Set New Price Targets

GDYN has been the topic of several recent analyst reports. JPMorgan Chase & Co. boosted their target price on shares of Grid Dynamics from $16.00 to $17.00 and gave the company an “overweight” rating in a research note on Friday, February 23rd. Cantor Fitzgerald upped their target price on shares of Grid Dynamics from $14.00 to $17.00 and gave the company an “overweight” rating in a research report on Wednesday, March 13th. Finally, Citigroup upped their target price on shares of Grid Dynamics from $16.00 to $17.00 and gave the company a “buy” rating in a research report on Friday, February 23rd. Four equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Grid Dynamics has a consensus rating of “Buy” and a consensus price target of $16.25.

Grid Dynamics Trading Down 3.1 %

The business has a 50 day moving average price of $12.64 and a 200 day moving average price of $12.52. The company has a market capitalization of $774.93 million, a P/E 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 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.01). The business had revenue of $78.07 million for the quarter, compared to the consensus estimate of $76.64 million. Grid Dynamics had a positive return on equity of 6.77% and a negative net margin of 0.56%. Grid Dynamics’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.14 earnings per share. On average, analysts forecast that Grid Dynamics Holdings, Inc. will post 0.07 EPS for the current fiscal year.

Insider Activity

In other news, CEO Leonard Livschitz sold 15,000 shares of the stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $13.08, for a total value of $196,200.00. Following the completion of the sale, the chief executive officer now owns 3,513,456 shares of the company’s stock, valued at approximately $45,956,004.48. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO Leonard Livschitz sold 15,000 shares of the stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $13.08, for a total value of $196,200.00. Following the completion of the sale, the chief executive officer now owns 3,513,456 shares of the company’s stock, valued at approximately $45,956,004.48. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Anil Doradla sold 4,000 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $13.26, for a total value of $53,040.00. Following the completion of the sale, the chief financial officer now directly owns 395,568 shares of the company’s stock, valued at approximately $5,245,231.68. The disclosure for this sale can be found here. In the last 90 days, insiders sold 90,884 shares of company stock valued at $1,159,755. 7.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Grid Dynamics

Hedge funds have recently added to or reduced their stakes in the business. International Assets Investment Management LLC acquired a new stake in Grid Dynamics during the 4th quarter valued at $26,000. Tower Research Capital LLC TRC increased its position in Grid Dynamics by 191.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,478 shares of the company’s stock worth $41,000 after buying an additional 2,944 shares during the period. UBS Group AG increased its position in Grid Dynamics by 412.4% during the 3rd quarter. UBS Group AG now owns 2,275 shares of the company’s stock worth $43,000 after buying an additional 1,831 shares during the period. Captrust Financial Advisors increased its position in Grid Dynamics by 197.2% during the 2nd quarter. Captrust Financial Advisors now owns 4,619 shares of the company’s stock worth $78,000 after buying an additional 3,065 shares during the period. Finally, Acadian Asset Management LLC increased its position in Grid Dynamics by 239.0% during the 1st quarter. Acadian Asset Management LLC now owns 5,837 shares of the company’s stock worth $82,000 after buying an additional 4,115 shares during the period. Institutional investors and hedge funds own 71.18% of the company’s stock.

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.