Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Get Free Report) was down 5% during trading on Friday . The company traded as low as $13.41 and last traded at $13.37. Approximately 589,634 shares changed hands during mid-day trading, a decline of 4% from the average daily volume of 612,914 shares. The stock had previously closed at $14.08.
Analyst Upgrades and Downgrades
Separately, Needham & Company LLC boosted their target price on shares of Grid Dynamics from $18.00 to $20.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Grid Dynamics currently has a consensus rating of "Buy" and a consensus price target of $17.60.
View Our Latest Research Report on GDYN
Grid Dynamics Stock Up 5.6 %
The company has a 50-day moving average price of $15.18 and a 200-day moving average price of $18.21. The company has a market capitalization of $1.18 billion, a price-to-earnings ratio of 351.75 and a beta of 1.13.
Grid Dynamics (NASDAQ:GDYN - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.02. The business had revenue of $100.42 million for 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 firm's revenue for the quarter was up 25.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.10 earnings per share. Equities analysts expect that Grid Dynamics Holdings, Inc. will post 0.18 EPS for the current fiscal year.
Insider Transactions at Grid Dynamics
In other Grid Dynamics news, CFO Anil Doradla sold 2,000 shares of the company's stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $24.09, for a total value of $48,180.00. Following the completion of the sale, the chief financial officer now directly owns 341,012 shares of the company's stock, valued at approximately $8,214,979.08. This represents a 0.58 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Yury Gryzlov sold 10,306 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $18.66, for a total transaction of $192,309.96. Following the sale, the chief operating officer now directly owns 482,759 shares in the company, valued at $9,008,282.94. This trade represents a 2.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,043 shares of company stock valued at $349,078 in the last 90 days. 7.20% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Grid Dynamics
Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in shares of Grid Dynamics by 26.8% in the fourth quarter. Vanguard Group Inc. now owns 5,535,526 shares of the company's stock worth $123,110,000 after purchasing an additional 1,171,481 shares during the period. Loomis Sayles & Co. L P acquired a new position in Grid Dynamics during the fourth quarter worth approximately $55,114,000. Dimensional Fund Advisors LP raised its position in Grid Dynamics by 1.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,816,447 shares of the company's stock worth $40,399,000 after acquiring an additional 17,881 shares during the last quarter. Next Century Growth Investors LLC lifted its position in Grid Dynamics by 78.1% during the 4th quarter. Next Century Growth Investors LLC now owns 1,622,226 shares of the company's stock worth $36,078,000 after acquiring an additional 711,150 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in Grid Dynamics by 3.8% during the 4th quarter. Geode Capital Management LLC now owns 1,433,773 shares of the company's stock valued at $31,895,000 after acquiring an additional 52,344 shares in the last quarter. 71.18% of the stock is owned by institutional investors and hedge funds.
About Grid Dynamics
(
Get 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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