Taylor Frigon Capital Management LLC Cuts Position in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Taylor Frigon Capital Management LLC decreased its position in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) by 29.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 142,137 shares of the company's stock after selling 59,750 shares during the quarter. Grid Dynamics accounts for about 1.3% of Taylor Frigon Capital Management LLC's holdings, making the stock its 20th biggest position. Taylor Frigon Capital Management LLC owned about 0.17% of Grid Dynamics worth $2,224,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Coppell Advisory Solutions LLC purchased a new stake in shares of Grid Dynamics in the 4th quarter worth about $25,000. Global Retirement Partners LLC acquired a new position in Grid Dynamics during the fourth quarter worth about $27,000. USA Financial Formulas purchased a new stake in shares of Grid Dynamics in the first quarter valued at about $42,000. Johnson Financial Group Inc. acquired a new stake in shares of Grid Dynamics in the fourth quarter valued at approximately $70,000. Finally, Skandinaviska Enskilda Banken AB publ increased its stake in shares of Grid Dynamics by 68.4% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 3,157 shares of the company's stock worth $71,000 after purchasing an additional 1,282 shares in the last quarter. Institutional investors and hedge funds own 71.18% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on GDYN. Wall Street Zen lowered Grid Dynamics from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Needham & Company LLC increased their price objective on Grid Dynamics from $18.00 to $20.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. One research 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. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $18.75.

Grid Dynamics Trading Up 2.8%

Shares of Grid Dynamics stock traded up $0.32 during trading hours on Tuesday, reaching $11.87. 606,301 shares of the company's stock were exchanged, compared to its average volume of 666,400. Grid Dynamics Holdings, Inc. has a 52-week low of $10.15 and a 52-week high of $25.50. The company has a fifty day moving average of $12.92 and a 200-day moving average of $16.92. The firm has a market capitalization of $1.00 billion, a price-to-earnings ratio of 98.92 and a beta of 1.04.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $0.11 EPS 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 firm had revenue of $100.42 million during the quarter, compared to analyst estimates of $98.19 million. During the same period in the prior year, the firm posted $0.10 earnings per share. The business's quarterly revenue was up 25.8% compared to the same quarter last year. On average, equities research analysts anticipate that Grid Dynamics Holdings, Inc. will post 0.18 earnings per share for the current fiscal year.

Insider Transactions at Grid Dynamics

In other Grid Dynamics news, COO Yury Gryzlov sold 2,000 shares of Grid Dynamics stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $13.22, for a total value of $26,440.00. Following the transaction, the chief operating officer owned 474,269 shares in the company, valued at $6,269,836.18. This trade represents a 0.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold 4,737 shares of company stock valued at $65,288 in the last ninety days. 7.20% of the stock is currently owned by insiders.

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.