Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Shares Sold by HighTower Advisors LLC

HighTower Advisors LLC lessened its stake in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 22.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,048 shares of the company’s stock after selling 3,535 shares during the quarter. HighTower Advisors LLC’s holdings in Grid Dynamics were worth $170,000 at the end of the most recent quarter.

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

Grid Dynamics Stock Performance

Shares of NASDAQ:GDYN opened at $20.53 on Thursday. Grid Dynamics Holdings, Inc. has a 52 week low of $9.07 and a 52 week high of $20.92. The company has a market cap of $1.69 billion, a PE ratio of 684.56 and a beta of 1.06. The firm has a 50 day simple moving average of $17.87 and a 200 day simple moving average of $14.46.

Grid Dynamics (NASDAQ:GDYN) last issued its earnings results on Thursday, October 31st. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.09 by $0.01. The business had revenue of $87.40 million during the quarter, compared to analysts’ expectations of $85.09 million. Grid Dynamics had a return on equity of 0.15% and a net margin of 0.74%. Grid Dynamics’s revenue was up 12.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.08 earnings per share. On average, equities analysts predict that Grid Dynamics Holdings, Inc. will post 0.03 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Grid Dynamics

In other Grid Dynamics news, CEO Leonard Livschitz sold 15,000 shares of Grid Dynamics 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 in the company, 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 Securities & Exchange Commission, which is available through the SEC website. Also, CFO Anil Doradla sold 4,000 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $17.66, for a total transaction of $70,640.00. Following the completion of the sale, the chief financial officer now owns 376,282 shares of the company’s stock, valued at $6,645,140.12. This represents a 1.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 25,000 shares of company stock valued at $399,260 in the last quarter. Company insiders own 7.20% of the company’s stock.

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.