Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its position in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 10.0% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 111,797 shares of the company’s stock after selling 12,364 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.15% of Grid Dynamics worth $1,565,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. FMR LLC raised its position in shares of Grid Dynamics by 38.7% during the 3rd quarter. FMR LLC now owns 2,873 shares of the company’s stock valued at $40,000 after acquiring an additional 801 shares in the last quarter. Hsbc Holdings PLC bought a new stake in Grid Dynamics during the second quarter valued at $117,000. Quantbot Technologies LP acquired a new stake in shares of Grid Dynamics during the third quarter worth $122,000. XTX Topco Ltd bought a new position in shares of Grid Dynamics in the 2nd quarter worth about $129,000. Finally, Mount Yale Investment Advisors LLC bought a new stake in shares of Grid Dynamics during the 2nd quarter valued at about $141,000. 71.18% of the stock is owned by institutional investors.

Grid Dynamics Price Performance

GDYN stock opened at $19.56 on Tuesday. The firm has a market cap of $1.61 billion, a PE ratio of 652.00 and a beta of 1.06. Grid Dynamics Holdings, Inc. has a 12 month low of $9.07 and a 12 month high of $20.34. The firm has a 50 day simple moving average of $17.13 and a 200 day simple moving average of $13.97.

Grid Dynamics (NASDAQ:GDYN) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. The business had revenue of $87.40 million for the quarter, compared to analyst estimates of $85.09 million. Grid Dynamics had a net margin of 0.74% and a return on equity of 0.15%. The firm’s revenue was up 12.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.08 earnings per share. As a group, sell-side analysts expect that Grid Dynamics Holdings, Inc. will post 0.03 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on GDYN shares. JPMorgan Chase & Co. raised their target price on shares of Grid Dynamics from $17.00 to $18.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Needham & Company LLC increased their target price on Grid Dynamics from $20.00 to $25.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. TD Cowen upped their price target on shares of Grid Dynamics from $16.00 to $19.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, Citigroup lifted their price objective on shares of Grid Dynamics from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Grid Dynamics currently has a consensus rating of “Buy” and a consensus price target of $18.33.

Insider Buying and Selling

In other Grid Dynamics news, CEO Leonard Livschitz sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $14.56, for a total value of $218,400.00. Following the completion of the sale, the chief executive officer now directly owns 3,460,901 shares of the company’s stock, valued at $50,390,718.56. The trade was a 0.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Anil Doradla sold 3,000 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $17.66, for a total transaction of $52,980.00. Following the transaction, the chief financial officer now directly owns 380,282 shares in the company, valued at $6,715,780.12. The trade was a 0.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 40,000 shares of company stock worth $605,210. 7.20% of the stock is owned by company 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.