Victory Capital Management Inc. Has $264,000 Holdings in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Victory Capital Management Inc. lessened its holdings in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 37.4% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 18,872 shares of the company’s stock after selling 11,293 shares during the quarter. Victory Capital Management Inc.’s holdings in Grid Dynamics were worth $264,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in Grid Dynamics by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 4,202,012 shares of the company’s stock worth $51,643,000 after purchasing an additional 64,300 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Grid Dynamics by 8.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 25,546 shares of the company’s stock worth $314,000 after purchasing an additional 1,985 shares in the last quarter. Comerica Bank increased its holdings in Grid Dynamics by 198.8% during the 1st quarter. Comerica Bank now owns 77,820 shares of the company’s stock worth $956,000 after purchasing an additional 51,778 shares in the last quarter. Harbor Capital Advisors Inc. increased its holdings in Grid Dynamics by 21.3% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 10,073 shares of the company’s stock worth $106,000 after purchasing an additional 1,770 shares in the last quarter. Finally, Linden Thomas Advisory Services LLC increased its holdings 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 purchasing an additional 1,735 shares in the last quarter. Institutional investors and hedge funds own 71.18% of the company’s stock.

Insider Activity at Grid Dynamics

In other Grid Dynamics 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 transaction of $205,950.00. Following the sale, the chief executive officer now 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Anil Doradla sold 4,000 shares of the business’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $17.66, for a total transaction of $70,640.00. Following the sale, the chief financial officer now directly owns 376,282 shares in the company, valued at approximately $6,645,140.12. The trade was a 1.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 950,387 shares of company stock valued at $12,239,324 over the last three months. 7.20% of the stock is owned by insiders.

Analyst Ratings Changes

GDYN has been the subject of a number of research reports. Cantor Fitzgerald upgraded Grid Dynamics to a “strong-buy” rating in a report on Monday, August 12th. JPMorgan Chase & Co. increased their target price on Grid Dynamics from $17.00 to $18.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. TD Cowen increased their target price on Grid Dynamics from $16.00 to $19.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Citigroup raised 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, Needham & Company LLC raised their price objective on Grid Dynamics from $17.00 to $20.00 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’s stock. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $17.50.

Grid Dynamics Trading Down 3.7 %

NASDAQ GDYN opened at $18.30 on Friday. Grid Dynamics Holdings, Inc. has a 1-year low of $9.07 and a 1-year high of $19.86. The company has a 50 day moving average of $16.01 and a 200-day moving average of $13.26. The company has a market cap of $1.51 billion, a price-to-earnings ratio of 610.20 and a beta of 1.04.

Grid Dynamics (NASDAQ:GDYN) last announced 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 business had revenue of $87.40 million for the quarter, compared to analysts’ expectations of $85.09 million. Grid Dynamics had a net margin of 0.74% and a return on equity of 0.15%. The firm’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same period last year, the firm posted $0.08 earnings per share.

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.