Barclays PLC Buys 70,579 Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Barclays PLC grew its stake in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 173.8% during the third quarter, Holdings Channel reports. The firm owned 111,182 shares of the company’s stock after purchasing an additional 70,579 shares during the period. Barclays PLC’s holdings in Grid Dynamics were worth $1,556,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. FMR LLC grew its position in Grid Dynamics by 38.7% in the 3rd quarter. FMR LLC now owns 2,873 shares of the company’s stock worth $40,000 after purchasing an additional 801 shares in the last quarter. Quarry LP boosted its stake in shares of Grid Dynamics by 131.5% in the 3rd quarter. Quarry LP now owns 5,236 shares of the company’s stock worth $73,000 after buying an additional 2,974 shares during the last quarter. Quantbot Technologies LP bought a new position in shares of Grid Dynamics in the third quarter valued at approximately $122,000. Intech Investment Management LLC purchased a new stake in shares of Grid Dynamics during the third quarter valued at approximately $153,000. Finally, Hsbc Holdings PLC bought a new stake in Grid Dynamics during the second quarter worth $117,000. Hedge funds and other institutional investors own 71.18% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on GDYN. JPMorgan Chase & Co. upped their price objective on Grid Dynamics from $17.00 to $18.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Needham & Company LLC raised their price objective 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. TD Cowen lifted their price objective 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 target price on shares of Grid Dynamics from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $18.33.

Grid Dynamics Stock Performance

Shares of Grid Dynamics stock opened at $22.70 on Friday. The stock has a market capitalization of $1.87 billion, a P/E ratio of 756.92 and a beta of 1.06. Grid Dynamics Holdings, Inc. has a 52-week low of $9.07 and a 52-week high of $24.16. The stock’s 50-day simple moving average is $18.13 and its 200 day simple moving average is $14.63.

Grid Dynamics (NASDAQ:GDYN) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. The company 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%. Grid Dynamics’s revenue was up 12.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.08 EPS. Equities research analysts forecast that Grid Dynamics Holdings, Inc. will post 0.03 EPS for the current fiscal year.

Insiders Place Their Bets

In other Grid Dynamics 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 value of $218,400.00. Following the completion of the transaction, the chief executive officer now directly owns 3,460,901 shares of the company’s stock, valued at $50,390,718.56. This trade represents a 0.43 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Anil Doradla sold 3,000 shares of the business’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $19.08, for a total transaction of $57,240.00. Following the transaction, the chief financial officer now owns 373,282 shares of the company’s stock, valued at $7,122,220.56. This trade represents a 0.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 25,000 shares of company stock worth $399,260 over the last 90 days. Corporate insiders own 7.20% of the company’s stock.

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.