Barclays PLC Buys 70,579 Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Barclays PLC grew its position in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 173.8% in the third quarter, according to its most recent filing with the SEC. The fund owned 111,182 shares of the company’s stock after acquiring an additional 70,579 shares during the period. Barclays PLC owned 0.14% of Grid Dynamics worth $1,556,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Fourth Sail Capital LP grew its holdings in Grid Dynamics by 138.0% during the 2nd quarter. Fourth Sail Capital LP now owns 769,924 shares of the company’s stock worth $8,092,000 after acquiring an additional 446,477 shares during the last quarter. Vontobel Holding Ltd. acquired a new position in shares of Grid Dynamics during the third quarter worth $1,143,000. Wellington Management Group LLP grew its stake in shares of Grid Dynamics by 30.9% in the third quarter. Wellington Management Group LLP now owns 2,859,808 shares of the company’s stock worth $40,037,000 after purchasing an additional 675,419 shares during the last quarter. Summit Creek Advisors LLC grew its stake in shares of Grid Dynamics by 25.1% in the second quarter. Summit Creek Advisors LLC now owns 1,147,992 shares of the company’s stock worth $12,065,000 after purchasing an additional 230,688 shares during the last quarter. Finally, Royce & Associates LP increased its holdings in Grid Dynamics by 5.9% in the third quarter. Royce & Associates LP now owns 802,101 shares of the company’s stock valued at $11,229,000 after purchasing an additional 44,720 shares during the period. Institutional investors and hedge funds own 71.18% of the company’s stock.

Analyst Ratings Changes

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

Insider Activity

In other news, CEO Leonard Livschitz sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $14.56, for a total transaction of $218,400.00. Following the completion of the sale, the chief executive officer now 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 SEC, which is available through this hyperlink. Also, CFO Anil Doradla sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $17.66, for a total value 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 90 days, insiders have sold 25,000 shares of company stock worth $399,260. Company insiders own 7.20% of the company’s stock.

Grid Dynamics Stock Performance

Shares of GDYN opened at $22.70 on Friday. The firm has a market cap of $1.87 billion, a PE ratio of 756.92 and a beta of 1.06. Grid Dynamics Holdings, Inc. has a 52-week low of $9.07 and a 52-week high of $24.16. The business’s 50 day moving average price is $18.13 and its two-hundred day moving average price is $14.63.

Grid Dynamics (NASDAQ:GDYN) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.01. The company had revenue of $87.40 million during 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%. Grid Dynamics’s revenue for the quarter was up 12.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.08 EPS. Research analysts predict that Grid Dynamics Holdings, Inc. will post 0.03 EPS for the current fiscal year.

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.