Rice Hall James & Associates LLC Buys Shares of 125,084 Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Rice Hall James & Associates LLC bought a new stake in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 125,084 shares of the company’s stock, valued at approximately $1,751,000.

Several other institutional investors have also added to or reduced their stakes in GDYN. Principal Financial Group Inc. purchased a new stake in Grid Dynamics during the 1st quarter valued at $454,000. Jennison Associates LLC boosted its stake in shares of Grid Dynamics by 1.2% in the 1st quarter. Jennison Associates LLC now owns 2,339,142 shares of the company’s stock worth $28,748,000 after buying an additional 26,974 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its stake in shares of Grid Dynamics by 6.4% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 99,380 shares of the company’s stock worth $1,221,000 after buying an additional 6,011 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Grid Dynamics by 14.5% in the 1st quarter. Russell Investments Group Ltd. now owns 185,281 shares of the company’s stock worth $2,277,000 after buying an additional 23,531 shares during the last quarter. Finally, ProShare Advisors LLC purchased a new position in shares of Grid Dynamics in the 1st quarter worth $124,000. 71.18% of the stock is currently owned by hedge funds and other institutional investors.

Grid Dynamics Stock Down 4.3 %

Shares of Grid Dynamics stock opened at $15.24 on Friday. The stock’s 50-day simple moving average is $14.45 and its 200-day simple moving average is $12.20. Grid Dynamics Holdings, Inc. has a 52 week low of $9.07 and a 52 week high of $17.66. The company has a market capitalization of $1.17 billion, a price-to-earnings ratio of -1,522.48 and a beta of 1.06.

Grid Dynamics (NASDAQ:GDYN) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.07 by $0.01. Grid Dynamics had a positive return on equity of 1.05% and a negative net margin of 0.37%. The business had revenue of $83.04 million for the quarter, compared to the consensus estimate of $81.06 million. During the same period in the previous year, the business earned $0.09 earnings per share. The business’s revenue was up 7.4% on a year-over-year basis.

Insider Activity

In other news, CEO Leonard Livschitz sold 15,000 shares of the business’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $13.02, for a total value of $195,300.00. Following the transaction, the chief executive officer now directly owns 3,520,901 shares in the company, valued at $45,842,131.02. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, major shareholder Teamsun Technology Co. Beijing sold 913,387 shares of Grid Dynamics 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 sale, the insider now directly owns 13,889,183 shares of the company’s stock, valued at approximately $177,781,542.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Leonard Livschitz sold 15,000 shares of Grid Dynamics stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $13.02, for a total value of $195,300.00. Following the completion of the sale, the chief executive officer now directly owns 3,520,901 shares in the company, valued at $45,842,131.02. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 958,387 shares of company stock worth $12,311,004 over the last ninety days. Corporate insiders own 7.40% of the company’s stock.

Analyst Ratings Changes

GDYN has been the topic of a number of research reports. TD Cowen raised their price target on Grid Dynamics from $16.00 to $19.00 and gave the stock a “buy” rating in a research note on Friday. Cantor Fitzgerald upgraded Grid Dynamics to a “strong-buy” rating in a research note on Monday, August 12th. Needham & Company LLC raised their price target on Grid Dynamics from $17.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday. Citigroup raised their target price on Grid Dynamics from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Finally, JPMorgan Chase & Co. lifted their target price on Grid Dynamics from $17.00 to $18.00 and gave the company an “overweight” rating in a research report on Wednesday. Five equities research 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, the stock currently has an average rating of “Buy” and an average target price of $17.50.

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.