Grid Dynamics (NASDAQ:GDYN) Sees Unusually-High Trading Volume

Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) saw an uptick in trading volume on Wednesday . 220,161 shares changed hands during mid-day trading, a decline of 35% from the previous session’s volume of 336,365 shares.The stock last traded at $13.50 and had previously closed at $13.82.

Analyst Ratings Changes

Several research analysts recently issued reports on GDYN shares. Cantor Fitzgerald upgraded shares of Grid Dynamics to a “strong-buy” rating in a research note on Monday, August 12th. TD Cowen upgraded shares of Grid Dynamics from a “hold” rating to a “buy” rating and raised their price objective for the company from $12.00 to $16.00 in a research note on Friday, August 2nd. Needham & Company LLC raised their price objective on shares of Grid Dynamics from $16.00 to $17.00 and gave the company a “buy” rating in a research note on Monday, August 5th. JPMorgan Chase & Co. raised their price target on shares of Grid Dynamics from $15.00 to $17.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Finally, Wedbush reaffirmed an “outperform” rating and set a $13.00 price target on shares of Grid Dynamics in a report on Thursday, May 23rd. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Grid Dynamics has an average rating of “Buy” and an average target price of $15.67.

Grid Dynamics Stock Down 2.2 %

The company has a market capitalization of $1.03 billion, a PE ratio of 460.67 and a beta of 1.06. The stock’s 50 day moving average is $13.10 and its two-hundred day moving average is $11.60.

Grid Dynamics (NASDAQ:GDYN) last released its earnings results on Thursday, August 1st. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. Grid Dynamics had a negative net margin of 0.37% and a positive return on equity of 1.05%. The company had revenue of $83.04 million during the quarter, compared to analysts’ expectations of $81.06 million. During the same period last year, the business earned $0.09 EPS. Grid Dynamics’s revenue for the quarter was up 7.4% on a year-over-year basis. On average, sell-side analysts predict that Grid Dynamics Holdings, Inc. will post 0.02 EPS for the current fiscal year.

Insider Activity at Grid Dynamics

In other news, CEO Leonard Livschitz sold 10,000 shares of the company’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $10.38, for a total transaction of $103,800.00. Following the completion of the transaction, the chief executive officer now owns 3,565,901 shares of the company’s stock, valued at approximately $37,014,052.38. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CEO Leonard Livschitz sold 10,000 shares of the stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $10.38, for a total value of $103,800.00. Following the completion of the transaction, the chief executive officer now owns 3,565,901 shares in the company, valued at approximately $37,014,052.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Anil Doradla sold 3,000 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $12.97, for a total value of $38,910.00. Following the sale, the chief financial officer now directly owns 369,282 shares of the company’s stock, valued at $4,789,587.54. The disclosure for this sale can be found here. In the last quarter, insiders sold 954,387 shares of company stock valued at $12,176,954. 7.40% of the stock is owned by insiders.

Institutional Trading of Grid Dynamics

Several institutional investors have recently modified their holdings of the company. Harbor Capital Advisors Inc. boosted its stake in Grid Dynamics by 21.3% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 10,073 shares of the company’s stock valued at $106,000 after buying an additional 1,770 shares in the last quarter. ProShare Advisors LLC bought a new position in Grid Dynamics in the 1st quarter valued at $124,000. Hsbc Holdings PLC bought a new position in Grid Dynamics in the 2nd quarter valued at $117,000. XTX Topco Ltd bought a new position in Grid Dynamics in the 2nd quarter valued at $129,000. Finally, Mount Yale Investment Advisors LLC bought a new position in Grid Dynamics in the 2nd quarter valued at $141,000. Institutional investors and hedge funds own 71.18% of the company’s stock.

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.