Royce & Associates LP cut its position in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) by 14.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 600,531 shares of the company's stock after selling 104,600 shares during the quarter. Royce & Associates LP owned 0.72% of Grid Dynamics worth $9,398,000 as of its most recent filing with the SEC.
A number of other hedge funds have also modified their holdings of GDYN. Coppell Advisory Solutions LLC acquired a new stake in Grid Dynamics during the fourth quarter valued at $25,000. USA Financial Formulas acquired a new stake in shares of Grid Dynamics in the first quarter worth about $42,000. Johnson Financial Group Inc. acquired a new stake in shares of Grid Dynamics in the fourth quarter worth about $70,000. Cetera Investment Advisers acquired a new stake in shares of Grid Dynamics in the fourth quarter worth about $200,000. Finally, Pictet Asset Management Holding SA acquired a new stake in shares of Grid Dynamics in the fourth quarter worth about $208,000. 71.18% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of research firms have recently commented on GDYN. Needham & Company LLC lifted their price objective on Grid Dynamics from $18.00 to $20.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Wall Street Zen lowered Grid Dynamics from a "buy" rating to a "hold" rating in a research note on Sunday, July 20th. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $18.75.
Check Out Our Latest Report on Grid Dynamics
Grid Dynamics Trading Down 3.5%
GDYN traded down $0.36 on Tuesday, hitting $9.96. 193,027 shares of the stock traded hands, compared to its average volume of 737,618. Grid Dynamics Holdings, Inc. has a 52 week low of $9.94 and a 52 week high of $25.50. The firm has a market capitalization of $842.10 million, a PE ratio of 83.51 and a beta of 1.04. The business has a fifty day moving average price of $11.79 and a two-hundred day moving average price of $15.53.
Grid Dynamics (NASDAQ:GDYN - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.02. Grid Dynamics had a return on equity of 1.37% and a net margin of 2.94%. The company had revenue of $100.42 million for the quarter, compared to analyst estimates of $98.19 million. During the same period in the prior year, the company posted $0.10 EPS. The company's revenue was up 25.8% compared to the same quarter last year. On average, equities research analysts forecast that Grid Dynamics Holdings, Inc. will post 0.18 EPS for the current fiscal year.
Insider Buying and Selling at Grid Dynamics
In other news, COO Yury Gryzlov sold 2,000 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $13.22, for a total value of $26,440.00. Following the transaction, the chief operating officer directly owned 474,269 shares of the company's stock, valued at $6,269,836.18. The trade was a 0.42% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders sold 6,737 shares of company stock valued at $84,251. Corporate insiders own 7.20% of the company's stock.
About Grid Dynamics
(
Free Report)
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.
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