SG Americas Securities LLC Makes New $242,000 Investment in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

SG Americas Securities LLC purchased a new stake in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 10,888 shares of the company’s stock, valued at approximately $242,000.

Several other large investors have also made changes to their positions in GDYN. Squarepoint Ops LLC bought a new stake in Grid Dynamics during the 2nd quarter valued at approximately $191,000. The Manufacturers Life Insurance Company raised its position in shares of Grid Dynamics by 5.6% during the second quarter. The Manufacturers Life Insurance Company now owns 22,388 shares of the company’s stock valued at $235,000 after buying an additional 1,184 shares during the last quarter. Vontobel Holding Ltd. purchased a new position in shares of Grid Dynamics in the third quarter worth $1,143,000. Trust Point Inc. boosted its position in shares of Grid Dynamics by 5.0% during the third quarter. Trust Point Inc. now owns 32,290 shares of the company’s stock worth $452,000 after acquiring an additional 1,532 shares during the last quarter. Finally, Mount Yale Investment Advisors LLC grew its stake in Grid Dynamics by 32.5% during the third quarter. Mount Yale Investment Advisors LLC now owns 17,791 shares of the company’s stock valued at $249,000 after acquiring an additional 4,362 shares in the last quarter. 71.18% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on the stock. Needham & Company LLC boosted their price target on shares of Grid Dynamics from $20.00 to $25.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. 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. JPMorgan Chase & Co. raised their price target on Grid Dynamics from $17.00 to $18.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Finally, TD Cowen upped their price objective on Grid Dynamics from $16.00 to $19.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Grid Dynamics has a consensus rating of “Buy” and an average target price of $18.33.

Insider Activity

In other Grid Dynamics news, CFO Anil Doradla sold 3,000 shares of the business’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $22.12, for a total transaction of $66,360.00. Following the transaction, the chief financial officer now owns 343,012 shares in the company, valued at $7,587,425.44. The trade was a 0.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 7.20% of the company’s stock.

Grid Dynamics Trading Up 3.0 %

Shares of NASDAQ:GDYN opened at $24.03 on Friday. The company has a market cap of $1.98 billion, a price-to-earnings ratio of 801.27 and a beta of 1.01. Grid Dynamics Holdings, Inc. has a 12 month low of $9.07 and a 12 month high of $24.16. The company has a 50-day moving average price of $20.78 and a 200 day moving average price of $16.83.

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.