Vontobel Holding Ltd. Sells 68,478 Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Vontobel Holding Ltd. trimmed its position in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 83.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,176 shares of the company’s stock after selling 68,478 shares during the period. Vontobel Holding Ltd.’s holdings in Grid Dynamics were worth $293,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of GDYN. FMR LLC boosted its holdings in Grid Dynamics by 38.7% in the 3rd quarter. FMR LLC now owns 2,873 shares of the company’s stock valued at $40,000 after purchasing an additional 801 shares during the period. MCF Advisors LLC grew its position in Grid Dynamics by 65.8% in the fourth quarter. MCF Advisors LLC now owns 1,864 shares of the company’s stock worth $41,000 after acquiring an additional 740 shares in the last quarter. Quarry LP grew its position in Grid Dynamics by 131.5% in the third quarter. Quarry LP now owns 5,236 shares of the company’s stock worth $73,000 after acquiring an additional 2,974 shares in the last quarter. Quantbot Technologies LP purchased a new position in Grid Dynamics in the third quarter worth $122,000. Finally, Intech Investment Management LLC purchased a new position in Grid Dynamics in the third quarter worth $153,000. 71.18% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on GDYN shares. 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 report on Monday, October 28th. JPMorgan Chase & Co. upped their target price on shares of Grid Dynamics from $17.00 to $18.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Needham & Company LLC upped their target price on shares of Grid Dynamics from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday. Finally, TD Cowen upped their target price on shares of Grid Dynamics from $16.00 to $19.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Grid Dynamics has a consensus rating of “Buy” and a consensus price target of $19.17.

Grid Dynamics Stock Up 4.3 %

NASDAQ GDYN opened at $21.37 on Friday. The company has a 50-day simple moving average of $21.64 and a two-hundred day simple moving average of $17.62. Grid Dynamics Holdings, Inc. has a 12-month low of $9.07 and a 12-month high of $25.50. The firm has a market cap of $1.76 billion, a price-to-earnings ratio of 712.57 and a beta of 1.01.

Grid Dynamics (NASDAQ:GDYN) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.06). Grid Dynamics had a net margin of 0.74% and a return on equity of 0.15%. The business had revenue of $100.28 million for the quarter, compared to analysts’ expectations of $96.00 million. Equities analysts expect that Grid Dynamics Holdings, Inc. will post 0.04 earnings per share for the current fiscal year.

Insider Buying and Selling at Grid Dynamics

In other news, CFO Anil Doradla sold 3,000 shares of the company’s stock in a transaction dated Tuesday, January 7th. The shares were 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 of the company’s stock, valued at approximately $7,587,425.44. This represents a 0.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders sold a total of 8,000 shares of company stock worth $171,780 over the last three months. Company insiders own 7.20% 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.