Mount Yale Investment Advisors LLC Invests $141,000 in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Mount Yale Investment Advisors LLC purchased a new stake in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) during the second quarter, according to its most recent disclosure with the SEC. The firm purchased 13,429 shares of the company’s stock, valued at approximately $141,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wasatch Advisors LP raised its holdings in shares of Grid Dynamics by 4.9% during the first quarter. Wasatch Advisors LP now owns 7,614,713 shares of the company’s stock valued at $93,585,000 after acquiring an additional 357,785 shares during the last quarter. Vanguard Group Inc. raised its stake in Grid Dynamics by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 4,202,012 shares of the company’s stock valued at $51,643,000 after purchasing an additional 64,300 shares during the last quarter. Jennison Associates LLC lifted its holdings in Grid Dynamics by 1.2% in the 1st quarter. Jennison Associates LLC now owns 2,339,142 shares of the company’s stock valued at $28,748,000 after purchasing an additional 26,974 shares in the last quarter. Wellington Management Group LLP boosted its stake in Grid Dynamics by 26.7% during the 4th quarter. Wellington Management Group LLP now owns 1,878,946 shares of the company’s stock worth $25,046,000 after purchasing an additional 396,320 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Grid Dynamics by 14.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,672,906 shares of the company’s stock worth $17,581,000 after buying an additional 206,201 shares in the last quarter. 71.18% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on GDYN. Citigroup decreased their price target on shares of Grid Dynamics from $15.00 to $14.00 and set a “buy” rating on the stock in a research note on Friday, July 12th. Needham & Company LLC raised their target price on shares of Grid Dynamics from $16.00 to $17.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Cantor Fitzgerald upgraded Grid Dynamics to a “strong-buy” rating in a research report on Monday, August 12th. JPMorgan Chase & Co. lifted their price objective on Grid Dynamics from $15.00 to $17.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Finally, TD Cowen raised Grid Dynamics from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $12.00 to $16.00 in a research note on Friday, August 2nd. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $15.67.

Grid Dynamics Stock Performance

Shares of Grid Dynamics stock opened at $13.80 on Wednesday. The stock has a 50 day moving average of $13.30 and a 200 day moving average of $11.63. The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of 460.00 and a beta of 1.06. Grid Dynamics Holdings, Inc. has a fifty-two week low of $9.07 and a fifty-two week high of $14.70.

Grid Dynamics (NASDAQ:GDYN) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. The business had revenue of $83.04 million during the quarter, compared to analysts’ expectations of $81.06 million. Grid Dynamics had a positive return on equity of 1.05% and a negative net margin of 0.37%. The company’s revenue was up 7.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.09 EPS. Analysts forecast that Grid Dynamics Holdings, Inc. will post 0.02 EPS for the current year.

Insider Activity

In related news, major shareholder Teamsun Technology Co. Beijing sold 913,387 shares of Grid Dynamics stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $12.80, for a total value of $11,691,353.60. Following the completion of the sale, the insider now owns 13,889,183 shares in the company, valued at approximately $177,781,542.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, major shareholder Teamsun Technology Co. Beijing sold 913,387 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $12.80, for a total transaction of $11,691,353.60. Following the completion of the transaction, the insider now directly owns 13,889,183 shares in the company, valued at approximately $177,781,542.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Leonard Livschitz sold 10,000 shares of the business’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $10.38, for a total transaction of $103,800.00. Following the sale, the chief executive officer now owns 3,565,901 shares in the company, valued at $37,014,052.38. The disclosure for this sale can be found here. In the last three months, insiders have sold 954,387 shares of company stock valued at $12,176,954. Company insiders own 7.40% of the company’s stock.

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.