JPMorgan Chase & Co. Sells 85,914 Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

JPMorgan Chase & Co. cut its stake in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) by 55.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 69,845 shares of the company's stock after selling 85,914 shares during the quarter. JPMorgan Chase & Co. owned 0.08% of Grid Dynamics worth $1,553,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of GDYN. Global Retirement Partners LLC acquired a new position in Grid Dynamics in the 4th quarter worth approximately $27,000. MCF Advisors LLC boosted its stake in shares of Grid Dynamics by 65.8% during the 4th quarter. MCF Advisors LLC now owns 1,864 shares of the company's stock valued at $41,000 after buying an additional 740 shares during the period. Skandinaviska Enskilda Banken AB publ raised its holdings in shares of Grid Dynamics by 68.4% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 3,157 shares of the company's stock worth $71,000 after acquiring an additional 1,282 shares in the last quarter. Atria Investments Inc purchased a new position in Grid Dynamics in the fourth quarter valued at about $208,000. Finally, Baader Bank Aktiengesellschaft acquired a new stake in shares of Grid Dynamics during the 4th quarter valued at about $222,000. 71.18% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Grid Dynamics

In other news, CFO Anil Doradla sold 2,000 shares of the firm's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $18.10, for a total value of $36,200.00. Following the completion of the transaction, the chief financial officer now owns 366,818 shares in the company, valued at $6,639,405.80. This trade represents a 0.54 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Yury Gryzlov sold 10,306 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $18.66, for a total value of $192,309.96. Following the transaction, 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 position. 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.

Grid Dynamics Price Performance

Shares of Grid Dynamics stock traded up $0.08 during trading on Thursday, hitting $14.24. 39,168 shares of the company were exchanged, compared to its average volume of 609,020. The firm has a market capitalization of $1.19 billion, a P/E ratio of 356.68 and a beta of 0.99. The firm's fifty day moving average price is $15.78 and its 200 day moving average price is $18.27. 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, February 20th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.06). Grid Dynamics had a net margin of 1.15% and a negative return on equity of 0.33%. The business had revenue of $100.28 million during the quarter, compared to analyst estimates of $96.00 million. As a group, equities research analysts anticipate that Grid Dynamics Holdings, Inc. will post 0.18 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Needham & Company LLC raised their target price on Grid Dynamics from $25.00 to $30.00 and gave the company a "buy" rating in a report on Friday, February 21st. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Grid Dynamics currently has a consensus rating of "Buy" and a consensus price target of $19.60.

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.