Barclays PLC Acquires 70,579 Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Barclays PLC grew its holdings in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 173.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 111,182 shares of the company’s stock after buying an additional 70,579 shares during the period. Barclays PLC owned 0.13% of Grid Dynamics worth $1,556,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Teachers Retirement System of The State of Kentucky boosted its stake in Grid Dynamics by 35.9% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 107,738 shares of the company’s stock worth $1,508,000 after purchasing an additional 28,438 shares in the last quarter. Geode Capital Management LLC boosted its stake in Grid Dynamics by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,381,429 shares of the company’s stock worth $19,344,000 after purchasing an additional 17,763 shares in the last quarter. Wellington Management Group LLP boosted its stake in Grid Dynamics by 30.9% in the 3rd quarter. Wellington Management Group LLP now owns 2,859,808 shares of the company’s stock worth $40,037,000 after purchasing an additional 675,419 shares in the last quarter. State Street Corp boosted its stake in Grid Dynamics by 0.5% in the 3rd quarter. State Street Corp now owns 1,446,130 shares of the company’s stock worth $20,246,000 after purchasing an additional 6,938 shares in the last quarter. Finally, Stifel Financial Corp boosted its stake in Grid Dynamics by 8.4% in the 3rd quarter. Stifel Financial Corp now owns 79,214 shares of the company’s stock worth $1,109,000 after purchasing an additional 6,151 shares in the last quarter. Institutional investors own 71.18% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Anil Doradla sold 3,000 shares of the stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $22.12, for a total transaction of $66,360.00. Following the completion of the transaction, the chief financial officer now directly owns 343,012 shares in the company, valued at approximately $7,587,425.44. This represents a 0.87 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 13,000 shares of company stock worth $247,220 in the last three months. 7.20% of the stock is owned by company insiders.

Analyst Ratings Changes

GDYN has been the topic of a number of analyst reports. JPMorgan Chase & Co. upped their price target on shares of Grid Dynamics from $17.00 to $18.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Citigroup boosted their target price on Grid Dynamics from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. TD Cowen boosted their target price on Grid Dynamics from $16.00 to $19.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, Needham & Company LLC boosted their target price on Grid Dynamics from $20.00 to $25.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Grid Dynamics currently has an average rating of “Buy” and an average price target of $18.33.

Grid Dynamics Stock Down 3.7 %

NASDAQ GDYN opened at $20.34 on Monday. Grid Dynamics Holdings, Inc. has a 52 week low of $9.07 and a 52 week high of $24.16. The firm has a market capitalization of $1.68 billion, a P/E ratio of 678.23 and a beta of 1.01. The company has a 50-day moving average price of $19.33 and a 200-day moving average price of $15.51.

Grid Dynamics (NASDAQ:GDYN) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.09 by $0.01. The firm had revenue of $87.40 million during the quarter, compared to analyst estimates of $85.09 million. Grid Dynamics had a net margin of 0.74% and a return on equity of 0.15%. The business’s revenue for the quarter was up 12.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.08 EPS. As a group, equities research analysts anticipate that Grid Dynamics Holdings, Inc. will post 0.03 EPS for the current year.

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.