Icon Wealth Advisors LLC Sells 3,853 Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Icon Wealth Advisors LLC decreased its position in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 32.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,009 shares of the company’s stock after selling 3,853 shares during the quarter. Icon Wealth Advisors LLC’s holdings in Grid Dynamics were worth $112,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. FMR LLC grew 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 buying an additional 801 shares during the last quarter. Harbor Capital Advisors Inc. grew its stake in shares of 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 acquiring an additional 1,770 shares during the last quarter. Hsbc Holdings PLC bought a new position in Grid Dynamics during the second quarter worth $117,000. Quantbot Technologies LP acquired a new position in Grid Dynamics during the 3rd quarter valued at $122,000. Finally, XTX Topco Ltd bought a new stake in Grid Dynamics in the 2nd quarter valued at $129,000. 71.18% of the stock is currently owned by institutional investors and hedge funds.

Grid Dynamics Price Performance

Shares of GDYN stock opened at $18.30 on Monday. The stock’s fifty day simple moving average is $16.01 and its 200 day simple moving average is $13.27. The firm has a market cap of $1.51 billion, a price-to-earnings ratio of 610.00 and a beta of 1.04. Grid Dynamics Holdings, Inc. has a one year low of $9.07 and a one year high of $19.86.

Grid Dynamics (NASDAQ:GDYN) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. The company had revenue of $87.40 million during the quarter, compared to analysts’ expectations of $85.09 million. Grid Dynamics had a return on equity of 0.15% and a net margin of 0.74%. The business’s revenue was up 12.9% on a year-over-year basis. During the same period last year, the business earned $0.08 earnings per share.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on GDYN. Needham & Company LLC boosted 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. Cantor Fitzgerald upgraded Grid Dynamics to a “strong-buy” rating in a research note on Monday, August 12th. TD Cowen upped their price target on Grid Dynamics from $16.00 to $19.00 and gave the company a “buy” rating in a report on Friday, November 1st. JPMorgan Chase & Co. lifted their price objective on Grid Dynamics from $17.00 to $18.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Finally, Citigroup upped their target price on Grid Dynamics from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Five 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.com, Grid Dynamics presently has a consensus rating of “Buy” and a consensus price target of $17.50.

Insiders Place Their Bets

In related news, CFO Anil Doradla sold 3,000 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $17.66, for a total transaction of $52,980.00. Following the completion of the sale, the chief financial officer now directly owns 380,282 shares of the company’s stock, valued at $6,715,780.12. This trade represents a 0.78 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Leonard Livschitz sold 15,000 shares of the business’s stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $13.73, for a total value of $205,950.00. Following the completion of the transaction, the chief executive officer now directly owns 3,475,901 shares in the company, valued at approximately $47,724,120.73. This represents a 0.43 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 950,387 shares of company stock valued at $12,239,324. 7.20% of the stock is currently owned by insiders.

About Grid Dynamics

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.