Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Stock Holdings Lowered by Jane Street Group LLC

Jane Street Group LLC decreased its holdings in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 31.3% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 60,171 shares of the company’s stock after selling 27,392 shares during the quarter. Jane Street Group LLC owned 0.08% of Grid Dynamics worth $842,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. FMR LLC lifted its holdings in Grid Dynamics by 38.7% in 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 during the last quarter. Quarry LP boosted its position in Grid Dynamics by 131.5% during the third quarter. Quarry LP now owns 5,236 shares of the company’s stock valued at $73,000 after purchasing an additional 2,974 shares during the last quarter. Hsbc Holdings PLC acquired a new position in Grid Dynamics in the second quarter worth approximately $117,000. Quantbot Technologies LP bought a new stake in Grid Dynamics in the third quarter worth $122,000. Finally, XTX Topco Ltd acquired a new position in shares of Grid Dynamics during the 2nd quarter valued at about $129,000. 71.18% of the stock is currently owned by institutional investors.

Insider Activity

In other Grid Dynamics news, CFO Anil Doradla sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $17.66, for a total transaction of $52,980.00. Following the sale, the chief financial officer now directly owns 380,282 shares in the company, valued at approximately $6,715,780.12. This trade represents a 0.78 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Leonard Livschitz sold 15,000 shares of the company’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 transaction of $218,400.00. Following the completion of the transaction, the chief executive officer now owns 3,460,901 shares of the company’s stock, valued at $50,390,718.56. This trade represents a 0.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 25,000 shares of company stock worth $399,260 in the last 90 days. Corporate insiders own 7.20% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. TD Cowen upped their price target on shares of Grid Dynamics from $16.00 to $19.00 and gave the company a “buy” rating in a report on Friday, November 1st. Citigroup boosted their target price on shares of Grid Dynamics from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Needham & Company LLC boosted their price objective on Grid Dynamics from $20.00 to $25.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Finally, JPMorgan Chase & Co. upped their price objective on Grid Dynamics from $17.00 to $18.00 and gave the stock an “overweight” rating in a 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, Grid Dynamics currently has a consensus rating of “Buy” and a consensus price target of $18.33.

Grid Dynamics Stock Performance

Shares of NASDAQ GDYN opened at $22.24 on Thursday. The firm has a 50 day moving average price of $18.53 and a 200 day moving average price of $14.90. The stock has a market cap of $1.83 billion, a P/E ratio of 741.58 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.

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

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.