Nuveen Asset Management LLC Cuts Holdings in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Nuveen Asset Management LLC trimmed its stake in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) by 22.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,282,201 shares of the company's stock after selling 363,494 shares during the quarter. Nuveen Asset Management LLC owned about 1.55% of Grid Dynamics worth $28,516,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. Occudo Quantitative Strategies LP acquired a new stake in Grid Dynamics in the fourth quarter worth $522,000. Millennium Management LLC acquired a new stake in Grid Dynamics in the fourth quarter worth $519,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Grid Dynamics by 3.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,474 shares of the company's stock worth $722,000 after purchasing an additional 1,106 shares during the period. Janus Henderson Group PLC grew its holdings in Grid Dynamics by 75.4% in the fourth quarter. Janus Henderson Group PLC now owns 28,370 shares of the company's stock worth $632,000 after purchasing an additional 12,200 shares during the period. Finally, Jefferies Financial Group Inc. acquired a new stake in Grid Dynamics in the fourth quarter worth $3,249,000. 71.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, COO Yury Gryzlov sold 2,000 shares of the business's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $13.22, for a total transaction of $26,440.00. Following the transaction, the chief operating officer now directly owns 474,269 shares in the company, valued at approximately $6,269,836.18. The trade was a 0.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last ninety days, insiders have sold 19,043 shares of company stock worth $327,338. 7.20% of the stock is owned by insiders.

Analysts Set New Price Targets

Separately, Needham & Company LLC lifted their price objective on shares of Grid Dynamics from $18.00 to $20.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $18.75.

Grid Dynamics Price Performance

Shares of NASDAQ GDYN traded up $0.20 during mid-day trading on Tuesday, reaching $13.04. 545,728 shares of the company's stock traded hands, compared to its average volume of 635,409. The stock has a market cap of $1.10 billion, a P/E ratio of 326.00 and a beta of 1.13. The business has a 50-day simple moving average of $14.16 and a 200 day simple moving average of $18.01. Grid Dynamics Holdings, Inc. has a 1-year low of $9.07 and a 1-year high of $25.50.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.09 by $0.02. The firm had revenue of $100.42 million during the quarter, compared to analysts' expectations of $98.19 million. Grid Dynamics had a net margin of 1.15% and a negative return on equity of 0.33%. The business's revenue was up 25.8% on a year-over-year basis. During the same period last year, the company earned $0.10 earnings per share. Equities research analysts anticipate that Grid Dynamics Holdings, Inc. will post 0.18 earnings per share for the current fiscal year.

Grid Dynamics 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.