Fmr LLC Grows Stock Holdings in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Fmr LLC grew its stake in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 38.7% in the third quarter, Holdings Channel.com reports. The firm owned 2,873 shares of the company’s stock after acquiring an additional 801 shares during the quarter. Fmr LLC’s holdings in Grid Dynamics were worth $40,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Hsbc Holdings PLC acquired a new position in Grid Dynamics during the second quarter worth $117,000. Quantbot Technologies LP acquired a new position in shares of Grid Dynamics during the 3rd quarter valued at about $122,000. XTX Topco Ltd purchased a new stake in shares of Grid Dynamics in the second quarter valued at about $129,000. Mount Yale Investment Advisors LLC acquired a new stake in Grid Dynamics during the second quarter worth about $141,000. Finally, Intech Investment Management LLC purchased a new position in Grid Dynamics during the third quarter worth about $153,000. Institutional investors and hedge funds own 71.18% of the company’s stock.

Grid Dynamics Stock Performance

GDYN stock opened at $20.53 on Thursday. The company has a 50 day moving average price of $17.87 and a two-hundred day moving average price of $14.46. The stock has a market capitalization of $1.69 billion, a P/E ratio of 684.56 and a beta of 1.06. Grid Dynamics Holdings, Inc. has a one year low of $9.07 and a one year high of $20.92.

Grid Dynamics (NASDAQ:GDYN) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.10 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 business had revenue of $87.40 million during the quarter, compared to the consensus estimate of $85.09 million. During the same quarter in the previous year, the business earned $0.08 earnings per share. The business’s revenue for the quarter was up 12.9% on a year-over-year basis. Research analysts forecast that Grid Dynamics Holdings, Inc. will post 0.03 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Leonard Livschitz sold 15,000 shares of the firm’s stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $14.56, for a total transaction of $218,400.00. Following the completion of the sale, the chief executive officer now directly owns 3,460,901 shares of the company’s stock, valued at approximately $50,390,718.56. This trade represents a 0.43 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Anil Doradla sold 3,000 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $17.66, for a total transaction of $52,980.00. Following the completion of the transaction, the chief financial officer now directly owns 380,282 shares of the company’s stock, valued at approximately $6,715,780.12. The trade was a 0.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 25,000 shares of company stock valued at $399,260 in the last ninety days. Company insiders own 7.20% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on GDYN. TD Cowen upped their price target on Grid Dynamics from $16.00 to $19.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Needham & Company LLC upped their target price on shares of Grid Dynamics from $20.00 to $25.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. JPMorgan Chase & Co. increased their target price on shares of Grid Dynamics from $17.00 to $18.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Finally, Citigroup boosted their price target on shares of 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. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $18.33.

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.