Wasatch Advisors LP Has $98.54 Million Position in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Wasatch Advisors LP lowered its stake in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 1.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,038,262 shares of the company’s stock after selling 105,329 shares during the period. Wasatch Advisors LP owned 9.16% of Grid Dynamics worth $98,536,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of GDYN. Fourth Sail Capital LP increased its holdings in shares of Grid Dynamics by 138.0% in the second quarter. Fourth Sail Capital LP now owns 769,924 shares of the company’s stock valued at $8,092,000 after purchasing an additional 446,477 shares in the last quarter. Summit Creek Advisors LLC increased its holdings in shares of Grid Dynamics by 25.1% in the second quarter. Summit Creek Advisors LLC now owns 1,147,992 shares of the company’s stock valued at $12,065,000 after purchasing an additional 230,688 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Grid Dynamics by 14.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,672,906 shares of the company’s stock valued at $17,581,000 after purchasing an additional 206,201 shares in the last quarter. Rice Hall James & Associates LLC acquired a new stake in Grid Dynamics during the 3rd quarter worth $1,751,000. Finally, Renaissance Technologies LLC grew its holdings in Grid Dynamics by 64.5% during the 2nd quarter. Renaissance Technologies LLC now owns 287,600 shares of the company’s stock worth $3,023,000 after acquiring an additional 112,800 shares during the period. Institutional investors and hedge funds own 71.18% of the company’s stock.

Grid Dynamics Stock Down 3.7 %

Shares of GDYN stock opened at $18.30 on Friday. Grid Dynamics Holdings, Inc. has a 12-month low of $9.07 and a 12-month high of $19.86. The firm has a market capitalization of $1.51 billion, a price-to-earnings ratio of 610.20 and a beta of 1.04. The firm has a fifty day moving average of $16.01 and a 200-day moving average of $13.24.

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. Grid Dynamics had a net margin of 0.74% and a return on equity of 0.15%. The company had revenue of $87.40 million during the quarter, compared to analyst estimates of $85.09 million. During the same quarter in the previous year, the business earned $0.08 EPS. The firm’s revenue was up 12.9% on a year-over-year basis.

Insider Activity at Grid Dynamics

In related news, CEO Leonard Livschitz sold 15,000 shares of the business’s stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $13.73, for a total value of $205,950.00. Following the sale, the chief executive officer now directly owns 3,475,901 shares of the company’s stock, valued at approximately $47,724,120.73. The trade was a 0.43 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Teamsun Technology Co. Beijing sold 913,387 shares of the business’s stock in a transaction on 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 completion of the sale, the insider now directly owns 13,889,183 shares in the company, valued at $177,781,542.40. This represents a 6.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 950,387 shares of company stock valued at $12,239,324. 7.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on GDYN shares. Needham & Company LLC lifted their target price 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. JPMorgan Chase & Co. lifted their target price on shares of Grid Dynamics from $17.00 to $18.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Cantor Fitzgerald raised shares of Grid Dynamics to a “strong-buy” rating in a report on Monday, August 12th. Citigroup lifted their target price on shares of Grid Dynamics from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Finally, TD Cowen lifted their target price on shares of Grid Dynamics from $16.00 to $19.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Grid Dynamics presently has a consensus rating of “Buy” and a consensus price target 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.