Stifel Financial Corp Buys 6,151 Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Stifel Financial Corp boosted its position in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 8.4% during the third quarter, Holdings Channel.com reports. The fund owned 79,214 shares of the company’s stock after acquiring an additional 6,151 shares during the quarter. Stifel Financial Corp’s holdings in Grid Dynamics were worth $1,109,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also added to or reduced their stakes in the company. Quarry LP increased its stake in shares of Grid Dynamics by 131.5% in the third quarter. Quarry LP now owns 5,236 shares of the company’s stock worth $73,000 after purchasing an additional 2,974 shares in the last quarter. Verition Fund Management LLC bought a new position in Grid Dynamics in the 3rd quarter worth $207,000. FMR LLC boosted its holdings 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 buying an additional 801 shares during the period. Quantbot Technologies LP purchased a new stake in Grid Dynamics in the 3rd quarter worth $122,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in Grid Dynamics by 3.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 464,206 shares of the company’s stock valued at $6,499,000 after acquiring an additional 13,785 shares during the period. Hedge funds and other institutional investors own 71.18% of the company’s stock.

Grid Dynamics Price Performance

Shares of GDYN opened at $20.50 on Monday. The business’s 50 day simple moving average is $17.56 and its 200-day simple moving average is $14.23. Grid Dynamics Holdings, Inc. has a 1 year low of $9.07 and a 1 year high of $20.92. The stock has a market capitalization of $1.69 billion, a price-to-earnings ratio of 683.56 and a beta of 1.06.

Grid Dynamics (NASDAQ:GDYN) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.09 by $0.01. Grid Dynamics had a net margin of 0.74% and a return on equity of 0.15%. The business had revenue of $87.40 million during the quarter, compared to analyst estimates of $85.09 million. During the same quarter last year, the business earned $0.08 earnings per share. Grid Dynamics’s quarterly revenue was up 12.9% compared to the same quarter last year. On average, sell-side analysts expect that Grid Dynamics Holdings, Inc. will post 0.03 earnings per share for the current year.

Insider Activity at Grid Dynamics

In related news, CEO Leonard Livschitz sold 15,000 shares of the stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $13.73, for a total transaction of $205,950.00. Following the sale, the chief executive officer now owns 3,475,901 shares in the company, valued at approximately $47,724,120.73. This represents a 0.43 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Anil Doradla sold 3,000 shares of Grid Dynamics stock in a transaction on Monday, December 9th. The stock was sold at an average price of $19.08, for a total transaction of $57,240.00. Following the transaction, the chief financial officer now directly owns 373,282 shares of the company’s stock, valued at $7,122,220.56. The trade was a 0.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 40,000 shares of company stock valued at $605,210. Insiders own 7.20% of the company’s stock.

Wall Street Analyst Weigh In

GDYN has been the subject of several research analyst reports. Needham & Company LLC increased their target price on Grid Dynamics from $20.00 to $25.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. JPMorgan Chase & Co. increased their price objective on shares of Grid Dynamics from $17.00 to $18.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. TD Cowen boosted their target price on shares of Grid Dynamics from $16.00 to $19.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, Citigroup raised their target price on shares of Grid Dynamics from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $18.33.

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.