HighTower Advisors LLC Has $170,000 Position in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

HighTower Advisors LLC trimmed its position in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 22.7% during the 3rd quarter, HoldingsChannel reports. The fund owned 12,048 shares of the company’s stock after selling 3,535 shares during the quarter. HighTower Advisors LLC’s holdings in Grid Dynamics were worth $170,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. FMR LLC raised its stake in shares of Grid Dynamics by 38.7% in the third quarter. FMR LLC now owns 2,873 shares of the company’s stock valued at $40,000 after purchasing an additional 801 shares in the last quarter. Hsbc Holdings PLC acquired a new stake in shares of Grid Dynamics during the 2nd quarter valued at about $117,000. Quantbot Technologies LP bought a new stake in Grid Dynamics in the third quarter valued at about $122,000. XTX Topco Ltd bought a new position in Grid Dynamics during the second quarter worth about $129,000. Finally, Mount Yale Investment Advisors LLC acquired a new position in shares of Grid Dynamics in the 2nd quarter worth approximately $141,000. Institutional investors and hedge funds own 71.18% of the company’s stock.

Grid Dynamics Trading Up 0.5 %

NASDAQ:GDYN opened at $20.53 on Thursday. Grid Dynamics Holdings, Inc. has a 1-year low of $9.07 and a 1-year high of $20.92. The firm has a market capitalization of $1.69 billion, a price-to-earnings ratio of 684.56 and a beta of 1.06. The business’s 50-day moving average price is $17.87 and its two-hundred day moving average price is $14.46.

Grid Dynamics (NASDAQ:GDYN) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.10 earnings per share 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 the consensus estimate of $85.09 million. Grid Dynamics had a net margin of 0.74% and a return on equity of 0.15%. Grid Dynamics’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same period last year, the company posted $0.08 EPS. Sell-side analysts predict that Grid Dynamics Holdings, Inc. will post 0.03 earnings per share for the current year.

Insiders Place Their Bets

In other Grid Dynamics news, CFO Anil Doradla sold 3,000 shares of the stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $19.08, for a total value of $57,240.00. Following the completion of the sale, the chief financial officer now directly owns 373,282 shares in the company, valued at $7,122,220.56. This represents a 0.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Leonard Livschitz sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $14.56, for a total value of $218,400.00. Following the sale, the chief executive officer now directly owns 3,460,901 shares in the company, valued at approximately $50,390,718.56. This represents a 0.43 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 25,000 shares of company stock worth $399,260. Company insiders own 7.20% of the company’s stock.

Analyst Ratings Changes

GDYN has been the topic of several analyst reports. Needham & Company LLC upped their target price on shares of Grid Dynamics from $20.00 to $25.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. JPMorgan Chase & Co. raised their target price on Grid Dynamics from $17.00 to $18.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. TD Cowen upped their target price on shares of Grid Dynamics from $16.00 to $19.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, Citigroup increased their price objective on Grid Dynamics from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus 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.