Grid Dynamics (NASDAQ:GDYN) Reaches New 12-Month High – What’s Next?

Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) reached a new 52-week high during trading on Thursday . The stock traded as high as $17.66 and last traded at $17.65, with a volume of 103010 shares traded. The stock had previously closed at $16.98.

Analyst Ratings Changes

GDYN has been the subject of several analyst reports. Citigroup boosted their price target on Grid Dynamics from $17.00 to $18.00 and gave the company a “buy” rating in a report on Monday, October 28th. TD Cowen increased 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. Cantor Fitzgerald upgraded Grid Dynamics to a “strong-buy” rating in a report on Monday, August 12th. Needham & Company LLC increased their price objective on shares of Grid Dynamics from $17.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, JPMorgan Chase & Co. raised 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. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Grid Dynamics has a consensus rating of “Buy” and an average target price of $17.50.

Grid Dynamics Trading Up 1.9 %

The firm has a market capitalization of $1.38 billion, a price-to-earnings ratio of 600.20 and a beta of 1.04. The firm has a 50 day moving average price of $14.68 and a two-hundred day moving average price of $12.37.

Grid Dynamics (NASDAQ:GDYN) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.10 earnings per share (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 the consensus estimate of $85.09 million. Grid Dynamics had a return on equity of 0.15% and a net margin of 0.74%. The firm’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.08 EPS.

Insider Activity

In related news, major shareholder Teamsun Technology Co. Beijing sold 913,387 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $12.80, for a total value of $11,691,353.60. Following the transaction, the insider now owns 13,889,183 shares in the company, valued at approximately $177,781,542.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, major shareholder Teamsun Technology Co. Beijing sold 913,387 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $12.80, for a total transaction of $11,691,353.60. Following the transaction, the insider now owns 13,889,183 shares of the company’s stock, valued at approximately $177,781,542.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Anil Doradla sold 3,000 shares of Grid Dynamics stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now owns 380,282 shares of the company’s stock, valued at approximately $6,715,780.12. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 961,387 shares of company stock worth $12,363,984. 7.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Mirador Capital Partners LP lifted its holdings in Grid Dynamics by 0.8% in the second quarter. Mirador Capital Partners LP now owns 123,399 shares of the company’s stock worth $1,297,000 after acquiring an additional 954 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in Grid Dynamics by 5.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,388 shares of the company’s stock valued at $235,000 after purchasing an additional 1,184 shares during the period. Trust Point Inc. boosted its position in Grid Dynamics by 5.0% during the 3rd quarter. Trust Point Inc. now owns 32,290 shares of the company’s stock valued at $452,000 after purchasing an additional 1,532 shares during the period. Linden Thomas Advisory Services LLC grew its stake in Grid Dynamics by 1.7% during the 2nd quarter. Linden Thomas Advisory Services LLC now owns 106,498 shares of the company’s stock worth $1,119,000 after buying an additional 1,735 shares during the last quarter. Finally, Harbor Capital Advisors Inc. increased its position in Grid Dynamics by 21.3% in the second quarter. Harbor Capital Advisors Inc. now owns 10,073 shares of the company’s stock worth $106,000 after buying an additional 1,770 shares during the period. 71.18% of the stock is owned by institutional investors and hedge funds.

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.