Mount Yale Investment Advisors LLC Buys 4,362 Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Mount Yale Investment Advisors LLC grew its stake in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 32.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,791 shares of the company’s stock after purchasing an additional 4,362 shares during the quarter. Mount Yale Investment Advisors LLC’s holdings in Grid Dynamics were worth $249,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Trust Point Inc. lifted its holdings in Grid Dynamics by 5.0% in the third quarter. Trust Point Inc. now owns 32,290 shares of the company’s stock worth $452,000 after buying an additional 1,532 shares during the period. Vontobel Holding Ltd. bought a new stake in shares of Grid Dynamics during the third quarter valued at approximately $1,143,000. The Manufacturers Life Insurance Company grew its stake in Grid Dynamics by 5.6% in the second quarter. The Manufacturers Life Insurance Company now owns 22,388 shares of the company’s stock worth $235,000 after purchasing an additional 1,184 shares during the period. Squarepoint Ops LLC bought a new position in Grid Dynamics in the second quarter worth $191,000. Finally, XTX Topco Ltd purchased a new position in Grid Dynamics during the second quarter valued at $129,000. 71.18% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Grid Dynamics

In other news, CFO Anil Doradla sold 3,000 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $12.97, for a total value of $38,910.00. Following the transaction, the chief financial officer now directly owns 369,282 shares in the company, valued at $4,789,587.54. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, major shareholder Teamsun Technology Co. Beijing sold 913,387 shares of the stock in a transaction that occurred on 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 owns 13,889,183 shares in the company, valued at $177,781,542.40. This represents a 0.00 % 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 that occurred on Thursday, August 1st. The shares were sold at an average price of $12.97, for a total transaction of $38,910.00. Following the sale, the chief financial officer now owns 369,282 shares of the company’s stock, valued at $4,789,587.54. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 961,387 shares of company stock worth $12,349,914. Insiders own 7.40% of the company’s stock.

Grid Dynamics Price Performance

GDYN stock opened at $15.64 on Monday. Grid Dynamics Holdings, Inc. has a 1-year low of $9.07 and a 1-year high of $15.80. The stock has a market capitalization of $1.20 billion, a P/E ratio of 521.33 and a beta of 1.06. The business has a fifty day moving average price of $14.24 and a 200-day moving average price of $12.04.

Grid Dynamics (NASDAQ:GDYN) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.08 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $83.04 million for the quarter, compared to the consensus estimate of $81.06 million. During the same quarter last year, the firm posted $0.09 EPS. The business’s quarterly revenue was up 7.4% compared to the same quarter last year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on GDYN shares. Cantor Fitzgerald upgraded shares of Grid Dynamics to a “strong-buy” rating in a research note on Monday, August 12th. JPMorgan Chase & Co. lifted their target price on shares of Grid Dynamics from $15.00 to $17.00 and gave the company an “overweight” rating in a report on Friday, September 6th. TD Cowen upgraded Grid Dynamics from a “hold” rating to a “buy” rating and upped their price target for the stock from $12.00 to $16.00 in a research note on Friday, August 2nd. Citigroup lowered their price objective on 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, Needham & Company LLC increased their target price on Grid Dynamics from $16.00 to $17.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $15.67.

Grid Dynamics Company 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.