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

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) major shareholder Teamsun Technology Co. Beijing sold 913,387 shares of the stock in a transaction on Thursday, September 12th. The stock was 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 of the company’s stock, valued at $177,781,542.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Grid Dynamics Price Performance

Shares of GDYN opened at $13.93 on Tuesday. The firm has a market capitalization of $1.07 billion, a PE ratio of 464.33 and a beta of 1.06. Grid Dynamics Holdings, Inc. has a fifty-two week low of $9.07 and a fifty-two week high of $14.70. The company’s 50-day moving average is $13.03 and its 200-day moving average is $11.60.

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

Institutional Investors Weigh In On Grid Dynamics

Several institutional investors and hedge funds have recently made changes to their positions in GDYN. Mirador Capital Partners LP boosted its position in shares of Grid Dynamics by 0.8% during the second quarter. Mirador Capital Partners LP now owns 123,399 shares of the company’s stock valued at $1,297,000 after buying an additional 954 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Grid Dynamics by 5.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,388 shares of the company’s stock valued at $235,000 after acquiring an additional 1,184 shares during the period. Linden Thomas Advisory Services LLC grew its holdings in shares of Grid Dynamics by 1.7% in the second quarter. Linden Thomas Advisory Services LLC now owns 106,498 shares of the company’s stock worth $1,119,000 after purchasing an additional 1,735 shares during the last quarter. Harbor Capital Advisors Inc. raised its stake in shares of Grid Dynamics by 21.3% during the second quarter. Harbor Capital Advisors Inc. now owns 10,073 shares of the company’s stock valued at $106,000 after acquiring an additional 1,770 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Grid Dynamics by 8.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 25,546 shares of the company’s stock valued at $314,000 after buying an additional 1,985 shares during the period. Institutional investors own 71.18% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on GDYN shares. Citigroup cut their price objective on Grid Dynamics from $15.00 to $14.00 and set a “buy” rating for the company in a research report on Friday, July 12th. TD Cowen upgraded Grid Dynamics from a “hold” rating to a “buy” rating and raised their price target for the company from $12.00 to $16.00 in a report on Friday, August 2nd. Wedbush reissued an “outperform” rating and set a $13.00 price objective on shares of Grid Dynamics in a report on Thursday, May 23rd. Cantor Fitzgerald raised shares of Grid Dynamics to a “strong-buy” rating in a report on Monday, August 12th. Finally, Needham & Company LLC upped their target price on shares of Grid Dynamics from $16.00 to $17.00 and gave the company 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 issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $15.67.

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.