Teamsun Technology Co. Beijing Sells 913,387 Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Stock

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) major shareholder Teamsun Technology Co. Beijing sold 913,387 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $12.80, for a total value of $11,691,353.60. Following the transaction, the insider now directly owns 13,889,183 shares in the company, valued at approximately $177,781,542.40. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Grid Dynamics Trading Down 0.8 %

Shares of NASDAQ:GDYN opened at $13.82 on Wednesday. Grid Dynamics Holdings, Inc. has a 1-year low of $9.07 and a 1-year high of $14.70. The stock has a market capitalization of $1.06 billion, a P/E ratio of 460.67 and a beta of 1.06. The business has a 50-day moving average price of $13.10 and a two-hundred day moving average price of $11.60.

Grid Dynamics (NASDAQ:GDYN) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. Grid Dynamics had a negative net margin of 0.37% and a positive return on equity of 1.05%. The business had revenue of $83.04 million during the quarter, compared to the consensus estimate of $81.06 million. During the same period in the previous year, the firm posted $0.09 earnings per share. Grid Dynamics’s revenue for the quarter was up 7.4% compared to the same quarter last year. As a group, equities analysts predict that Grid Dynamics Holdings, Inc. will post 0.02 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. TD Cowen raised shares of Grid Dynamics from a “hold” rating to a “buy” rating and upped their price objective for the stock from $12.00 to $16.00 in a report on Friday, August 2nd. Needham & Company LLC raised their price objective on shares of Grid Dynamics from $16.00 to $17.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. JPMorgan Chase & Co. upped their target price on shares of Grid Dynamics from $15.00 to $17.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Citigroup reduced their target price on shares of Grid Dynamics from $15.00 to $14.00 and set a “buy” rating for the company in a research note on Friday, July 12th. Finally, Wedbush reissued an “outperform” rating and issued a $13.00 target price on shares of Grid Dynamics in a research note on Thursday, May 23rd. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $15.67.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Lord Abbett & CO. LLC increased its holdings in Grid Dynamics by 42.3% in the first quarter. Lord Abbett & CO. LLC now owns 479,302 shares of the company’s stock valued at $5,890,000 after purchasing an additional 142,446 shares during the last quarter. Silvercrest Asset Management Group LLC grew its position in shares of Grid Dynamics by 43.1% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 604,481 shares of the company’s stock worth $7,429,000 after buying an additional 182,052 shares during the period. Comerica Bank increased its stake in shares of Grid Dynamics by 198.8% in the 1st quarter. Comerica Bank now owns 77,820 shares of the company’s stock valued at $956,000 after acquiring an additional 51,778 shares during the last quarter. 1492 Capital Management LLC raised its position in shares of Grid Dynamics by 1.1% in the 4th quarter. 1492 Capital Management LLC now owns 271,964 shares of the company’s stock valued at $3,625,000 after acquiring an additional 2,926 shares during the period. Finally, Vanguard Group Inc. boosted its stake 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 acquiring an additional 64,300 shares during the last quarter. Institutional investors and hedge funds 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.