Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Holdings Decreased by Victory Capital Management Inc.

Victory Capital Management Inc. decreased its holdings in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 37.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,872 shares of the company’s stock after selling 11,293 shares during the quarter. Victory Capital Management Inc.’s holdings in Grid Dynamics were worth $264,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of GDYN. Vanguard Group Inc. grew its stake in Grid Dynamics by 1.6% in 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 in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Grid Dynamics by 8.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 25,546 shares of the company’s stock valued at $314,000 after purchasing an additional 1,985 shares in the last quarter. Comerica Bank grew its stake in Grid Dynamics by 198.8% in the first quarter. Comerica Bank now owns 77,820 shares of the company’s stock valued at $956,000 after purchasing an additional 51,778 shares in the last quarter. Harbor Capital Advisors Inc. grew its stake in Grid Dynamics by 21.3% in the second quarter. Harbor Capital Advisors Inc. now owns 10,073 shares of the company’s stock valued at $106,000 after purchasing an additional 1,770 shares in the last quarter. Finally, Linden Thomas Advisory Services LLC grew its stake in Grid Dynamics by 1.7% in the second quarter. Linden Thomas Advisory Services LLC now owns 106,498 shares of the company’s stock valued at $1,119,000 after purchasing an additional 1,735 shares in the last quarter. Hedge funds and other institutional investors own 71.18% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on GDYN. TD Cowen boosted their target price on Grid Dynamics from $16.00 to $19.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Cantor Fitzgerald raised Grid Dynamics to a “strong-buy” rating in a research report on Monday, August 12th. JPMorgan Chase & Co. boosted their price target on Grid Dynamics from $17.00 to $18.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Citigroup boosted their price target on Grid Dynamics from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Finally, Needham & Company LLC boosted 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. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $17.50.

Insider Buying and Selling

In other news, CFO Anil Doradla sold 3,000 shares of the stock in a transaction 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 owns 380,282 shares of the company’s stock, valued at $6,715,780.12. This represents a 0.78 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Teamsun Technology Co. Beijing sold 913,387 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $12.80, for a total value of $11,691,353.60. Following the completion of the transaction, the insider now directly owns 13,889,183 shares in the company, valued at approximately $177,781,542.40. This trade represents a 6.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 950,387 shares of company stock worth $12,239,324 in the last three months. Insiders own 7.20% of the company’s stock.

Grid Dynamics Stock Down 3.7 %

Shares of GDYN opened at $18.30 on Friday. Grid Dynamics Holdings, Inc. has a 12-month low of $9.07 and a 12-month high of $19.86. The firm has a market capitalization of $1.51 billion, a price-to-earnings ratio of 610.20 and a beta of 1.04. The stock’s 50-day moving average price is $16.01 and its 200 day moving average price is $13.26.

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 for the quarter, compared to analyst estimates of $85.09 million. Grid Dynamics had a return on equity of 0.15% and a net margin of 0.74%. The company’s revenue was up 12.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.08 EPS.

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.