Principal Financial Group Inc. Has $270,000 Stake in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Principal Financial Group Inc. reduced its stake in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 53.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,305 shares of the company’s stock after selling 21,739 shares during the quarter. Principal Financial Group Inc.’s holdings in Grid Dynamics were worth $270,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of GDYN. Vanguard Group Inc. grew its holdings in Grid Dynamics by 1.6% during the first quarter. Vanguard Group Inc. now owns 4,202,012 shares of the company’s stock valued at $51,643,000 after purchasing an additional 64,300 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Grid Dynamics by 14.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,672,906 shares of the company’s stock valued at $17,581,000 after buying an additional 206,201 shares during the period. Summit Creek Advisors LLC increased its position in shares of Grid Dynamics by 25.1% in the 2nd quarter. Summit Creek Advisors LLC now owns 1,147,992 shares of the company’s stock valued at $12,065,000 after buying an additional 230,688 shares in the last quarter. Fourth Sail Capital LP raised its stake 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 buying an additional 446,477 shares during the period. Finally, Silvercrest Asset Management Group LLC lifted its holdings in Grid Dynamics by 43.1% during the first quarter. Silvercrest Asset Management Group LLC now owns 604,481 shares of the company’s stock worth $7,429,000 after acquiring an additional 182,052 shares in the last quarter. 71.18% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Anil Doradla sold 4,000 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $17.66, for a total transaction of $70,640.00. Following the transaction, the chief financial officer now directly owns 376,282 shares in the company, valued at $6,645,140.12. The trade was a 1.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Leonard Livschitz sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $13.73, for a total transaction of $205,950.00. Following the completion of the sale, the chief executive officer now owns 3,475,901 shares of the company’s stock, valued at $47,724,120.73. This trade represents a 0.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 950,387 shares of company stock valued at $12,239,324 in the last 90 days. 7.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on GDYN. Needham & Company LLC raised their price target on Grid Dynamics from $17.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Cantor Fitzgerald raised shares of Grid Dynamics to a “strong-buy” rating in a research note on Monday, August 12th. 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. JPMorgan Chase & Co. raised their price objective on shares of Grid Dynamics from $17.00 to $18.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Finally, Citigroup upped their target price on shares of Grid Dynamics from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Five investment 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.com, the stock presently has a consensus rating of “Buy” and an average target price of $17.50.

Grid Dynamics Stock Up 3.5 %

Shares of GDYN stock opened at $18.90 on Tuesday. The firm has a market cap of $1.56 billion, a PE ratio of 630.21 and a beta of 1.04. Grid Dynamics Holdings, Inc. has a 12 month low of $9.07 and a 12 month high of $19.86. The company’s fifty day simple moving average is $15.58 and its 200-day simple moving average is $13.03.

Grid Dynamics (NASDAQ:GDYN) last issued its quarterly 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 firm had revenue of $87.40 million for the quarter, compared to analysts’ expectations of $85.09 million. Grid Dynamics had a net margin of 0.74% and a return on equity of 0.15%. The company’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.08 EPS.

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.