Vontobel Holding Ltd. Buys Shares of 81,654 Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Vontobel Holding Ltd. purchased a new position in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 81,654 shares of the company’s stock, valued at approximately $1,143,000. Vontobel Holding Ltd. owned approximately 0.11% of Grid Dynamics at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the stock. Harbor Capital Advisors Inc. grew its stake in Grid Dynamics by 21.3% in the second quarter. Harbor Capital Advisors Inc. now owns 10,073 shares of the company’s stock valued at $106,000 after purchasing an additional 1,770 shares in the last quarter. Hsbc Holdings PLC acquired a new stake in shares of Grid Dynamics during the 2nd quarter valued at about $117,000. ProShare Advisors LLC bought a new stake in shares of Grid Dynamics in the 1st quarter valued at approximately $124,000. XTX Topco Ltd acquired a new position in Grid Dynamics in the second quarter worth approximately $129,000. Finally, Mount Yale Investment Advisors LLC bought a new position in Grid Dynamics during the second quarter valued at approximately $141,000. 71.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Insiders Place Their Bets

In related news, major shareholder Teamsun Technology Co. Beijing sold 913,387 shares of the stock in a transaction dated 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. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, major shareholder Teamsun Technology Co. Beijing sold 913,387 shares of the business’s stock in a transaction that occurred on 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 sale, the insider now directly owns 13,889,183 shares in the company, valued at approximately $177,781,542.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Anil Doradla sold 3,000 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $12.97, for a total value of $38,910.00. Following the completion of the transaction, the chief financial officer now directly owns 369,282 shares of the company’s stock, valued at approximately $4,789,587.54. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 961,387 shares of company stock worth $12,349,914 in the last ninety days. Insiders own 7.40% of the company’s stock.

Grid Dynamics Stock Up 1.1 %

GDYN opened at $15.59 on Monday. The stock’s 50 day moving average price is $14.00 and its two-hundred day moving average price is $11.91. The firm has a market capitalization of $1.19 billion, a P/E ratio of 519.67 and a beta of 1.06. Grid Dynamics Holdings, Inc. has a 12-month low of $9.07 and a 12-month high of $15.69.

Grid Dynamics (NASDAQ:GDYN) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.01. The business had revenue of $83.04 million for the quarter, compared to the consensus estimate of $81.06 million. Grid Dynamics had a negative net margin of 0.37% and a positive return on equity of 1.05%. Grid Dynamics’s quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter last year, the company posted $0.09 earnings per share.

Grid Dynamics Company 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.