Grid Dynamics (NASDAQ:GDYN) Sees Large Volume Increase – What’s Next?

Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) saw unusually-strong trading volume on Tuesday . Approximately 253,674 shares traded hands during trading, a decline of 39% from the previous session’s volume of 417,146 shares.The stock last traded at $22.91 and had previously closed at $22.50.

Wall Street Analyst Weigh In

A number of brokerages recently commented on GDYN. Citigroup upped their target price on Grid Dynamics from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Monday, October 28th. JPMorgan Chase & Co. raised their price objective on shares of Grid Dynamics from $17.00 to $18.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. 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 note on Thursday, December 12th. Finally, TD Cowen raised their price target on shares of Grid Dynamics from $16.00 to $19.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Grid Dynamics currently has a consensus rating of “Buy” and an average target price of $18.33.

Grid Dynamics Trading Down 1.2 %

The firm has a market cap of $1.83 billion, a P/E ratio of 741.58 and a beta of 1.06. The company’s fifty day moving average price is $18.53 and its two-hundred day moving average price is $14.90.

Grid Dynamics (NASDAQ:GDYN) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.01. The firm 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 company’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.08 earnings per share. On average, analysts predict that Grid Dynamics Holdings, Inc. will post 0.03 EPS for the current fiscal year.

Insider Buying and Selling at Grid Dynamics

In other Grid Dynamics news, CEO Leonard Livschitz sold 15,000 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now owns 3,460,901 shares in the company, valued at approximately $50,390,718.56. This trade represents a 0.43 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Anil Doradla sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $17.66, for a total transaction of $52,980.00. Following the transaction, the chief financial officer now owns 380,282 shares in the company, valued at $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. In the last quarter, insiders sold 25,000 shares of company stock worth $399,260. 7.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Grid Dynamics

A number of institutional investors and hedge funds have recently made changes to their positions in GDYN. Wellington Management Group LLP boosted its holdings in Grid Dynamics by 30.9% in the third quarter. Wellington Management Group LLP now owns 2,859,808 shares of the company’s stock valued at $40,037,000 after acquiring an additional 675,419 shares during the last quarter. Lord Abbett & CO. LLC bought a new position in shares of Grid Dynamics in the 3rd quarter valued at about $8,589,000. Fourth Sail Capital LP grew its position in shares of Grid Dynamics by 138.0% during the 2nd quarter. Fourth Sail Capital LP now owns 769,924 shares of the company’s stock worth $8,092,000 after buying an additional 446,477 shares during the period. Summit Creek Advisors LLC raised its stake in shares of Grid Dynamics by 25.1% during the second quarter. Summit Creek Advisors LLC now owns 1,147,992 shares of the company’s stock worth $12,065,000 after buying an additional 230,688 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Grid Dynamics by 14.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,672,906 shares of the company’s stock valued at $17,581,000 after buying an additional 206,201 shares during the period. Institutional investors own 71.18% of the company’s stock.

About Grid Dynamics

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.