Royce & Associates LP Raises Stock Position in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Royce & Associates LP grew its position in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 5.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 802,101 shares of the company’s stock after buying an additional 44,720 shares during the period. Royce & Associates LP owned 1.05% of Grid Dynamics worth $11,229,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Mirador Capital Partners LP grew its position 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 period. The Manufacturers Life Insurance Company grew its holdings in shares of Grid Dynamics by 5.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,388 shares of the company’s stock worth $235,000 after purchasing an additional 1,184 shares during the period. Trust Point Inc. increased its position in shares of Grid Dynamics by 5.0% during the 3rd quarter. Trust Point Inc. now owns 32,290 shares of the company’s stock worth $452,000 after purchasing an additional 1,532 shares during the last quarter. Linden Thomas Advisory Services LLC raised its holdings in Grid Dynamics by 1.7% in the 2nd quarter. Linden Thomas Advisory Services LLC now owns 106,498 shares of the company’s stock valued at $1,119,000 after buying an additional 1,735 shares during the period. Finally, Harbor Capital Advisors Inc. lifted 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 valued at $106,000 after buying an additional 1,770 shares during the last quarter. Institutional investors and hedge funds own 71.18% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on GDYN shares. Needham & Company LLC boosted their price target on shares of Grid Dynamics from $17.00 to $20.00 and gave the company a “buy” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. boosted 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, October 30th. Cantor Fitzgerald upgraded Grid Dynamics to a “strong-buy” rating in a research report on Monday, August 12th. Citigroup boosted their price objective on Grid Dynamics from $17.00 to $18.00 and gave the company a “buy” rating in a report on Monday, October 28th. Finally, TD Cowen raised their target price on Grid Dynamics from $16.00 to $19.00 and gave the company a “buy” rating in a report on Friday, November 1st. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $17.50.

Insider Buying and Selling

In other news, CFO Anil Doradla sold 4,000 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $17.66, for a total value of $70,640.00. Following the transaction, the chief financial officer now owns 376,282 shares in the company, valued at approximately $6,645,140.12. This represents a 1.05 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Teamsun Technology Co. Beijing sold 913,387 shares of the firm’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 sale, the insider now directly owns 13,889,183 shares in the company, valued at $177,781,542.40. This trade represents a 6.17 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 950,387 shares of company stock worth $12,239,324 over the last 90 days. 7.40% of the stock is owned by insiders.

Grid Dynamics Trading Down 4.6 %

Shares of NASDAQ GDYN opened at $16.25 on Friday. The stock has a market cap of $1.25 billion, a P/E ratio of 541.67 and a beta of 1.04. The business’s fifty day simple moving average is $15.19 and its 200-day simple moving average is $12.72. Grid Dynamics Holdings, Inc. has a 12-month low of $9.07 and a 12-month high of $19.86.

Grid Dynamics (NASDAQ:GDYN) last posted its quarterly earnings results 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. Grid Dynamics had a return on equity of 0.15% and a net margin of 0.74%. The company had revenue of $87.40 million for the quarter, compared to analyst estimates of $85.09 million. During the same quarter last year, the company earned $0.08 EPS. Grid Dynamics’s revenue for the quarter was up 12.9% compared to the same quarter last year.

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.