Grid Dynamics (NASDAQ:GDYN) Sees Strong Trading Volume

Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) saw unusually-strong trading volume on Wednesday . Approximately 220,161 shares traded hands during mid-day trading, a decline of 35% from the previous session’s volume of 336,365 shares.The stock last traded at $13.50 and had previously closed at $13.82.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Cantor Fitzgerald raised shares of Grid Dynamics to a “strong-buy” rating in a research note on Monday, August 12th. JPMorgan Chase & Co. raised their price objective on Grid Dynamics from $15.00 to $17.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. TD Cowen upgraded Grid Dynamics from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $12.00 to $16.00 in a report on Friday, August 2nd. Needham & Company LLC increased their target price on Grid Dynamics from $16.00 to $17.00 and gave the company a “buy” rating in a report on Monday, August 5th. Finally, Citigroup decreased their price target on Grid Dynamics from $15.00 to $14.00 and set a “buy” rating on the stock in a research note on Friday, July 12th. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $15.67.

Grid Dynamics Price Performance

The firm has a market cap of $1.03 billion, a P/E ratio of 449.00 and a beta of 1.06. The firm’s 50 day moving average is $13.21 and its 200 day moving average is $11.63.

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

Insider Transactions at Grid Dynamics

In other news, CEO Leonard Livschitz sold 10,000 shares of the business’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $10.38, for a total transaction of $103,800.00. Following the completion of the sale, the chief executive officer now owns 3,565,901 shares of the company’s stock, valued at approximately $37,014,052.38. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO Leonard Livschitz sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $10.38, for a total transaction of $103,800.00. Following the completion of the transaction, the chief executive officer now directly owns 3,565,901 shares in the company, valued at approximately $37,014,052.38. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Anil Doradla sold 3,000 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $12.97, for a total transaction of $38,910.00. Following the completion of the sale, the chief financial officer now directly owns 369,282 shares of the company’s stock, valued at $4,789,587.54. The disclosure for this sale can be found here. Insiders have sold 954,387 shares of company stock worth $12,176,954 in the last quarter. Company insiders own 7.40% of the company’s stock.

Institutional Trading of Grid Dynamics

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