US Bancorp DE Sells 3,719 Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

US Bancorp DE cut its position in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 24.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,749 shares of the company’s stock after selling 3,719 shares during the period. US Bancorp DE’s holdings in Grid Dynamics were worth $261,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GDYN. Royce & Associates LP boosted its stake in Grid Dynamics by 5.9% during the third quarter. Royce & Associates LP now owns 802,101 shares of the company’s stock valued at $11,229,000 after buying an additional 44,720 shares during the last quarter. Quest Partners LLC boosted its stake in Grid Dynamics by 35,544.7% during the third quarter. Quest Partners LLC now owns 16,753 shares of the company’s stock valued at $235,000 after buying an additional 16,706 shares during the last quarter. Intech Investment Management LLC bought a new position in Grid Dynamics during the third quarter valued at approximately $153,000. Charles Schwab Investment Management Inc. boosted its stake in Grid Dynamics by 3.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 464,206 shares of the company’s stock valued at $6,499,000 after buying an additional 13,785 shares during the last quarter. Finally, Quantbot Technologies LP bought a new position in Grid Dynamics during the third quarter valued at approximately $122,000. 71.18% of the stock is owned by institutional investors.

Grid Dynamics Price Performance

Shares of GDYN stock opened at $16.82 on Friday. Grid Dynamics Holdings, Inc. has a 1 year low of $9.07 and a 1 year high of $25.50. The stock’s 50 day simple moving average is $20.84 and its two-hundred day simple moving average is $18.13. The company has a market cap of $1.41 billion, a PE ratio of 420.50 and a beta of 1.10.

Grid Dynamics (NASDAQ:GDYN) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.06). Grid Dynamics had a net margin of 1.15% and a negative return on equity of 0.33%. The company had revenue of $100.28 million for the quarter, compared to analysts’ expectations of $96.00 million. Equities research analysts expect that Grid Dynamics Holdings, Inc. will post 0.18 EPS for the current year.

Insider Transactions at Grid Dynamics

In other news, COO Yury Gryzlov sold 10,306 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $18.66, for a total value of $192,309.96. Following the sale, the chief operating officer now directly owns 482,759 shares in the company, valued at approximately $9,008,282.94. This represents a 2.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Anil Doradla sold 2,000 shares of the stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $24.09, for a total value of $48,180.00. Following the completion of the sale, the chief financial officer now owns 341,012 shares in the company, valued at approximately $8,214,979.08. The trade was a 0.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,306 shares of company stock worth $376,590. 7.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Separately, Needham & Company LLC increased their price target on Grid Dynamics from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $19.60.

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.