Blair William & Co. IL Sells 40,815 Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Blair William & Co. IL lowered its holdings in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 4.7% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 827,889 shares of the company’s stock after selling 40,815 shares during the period. Blair William & Co. IL owned about 1.08% of Grid Dynamics worth $8,701,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Harbor Capital Advisors Inc. raised its stake in Grid Dynamics by 21.3% during the second 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 in the last quarter. ProShare Advisors LLC acquired a new position in Grid Dynamics during the 1st quarter worth approximately $124,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Grid Dynamics by 17.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,919 shares of the company’s stock valued at $188,000 after purchasing an additional 2,673 shares during the last quarter. Olympiad Research LP acquired a new stake in Grid Dynamics in the fourth quarter valued at approximately $211,000. Finally, Price T Rowe Associates Inc. MD grew 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 worth $314,000 after buying an additional 1,985 shares during the last quarter. 71.18% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Activity at Grid Dynamics

In other Grid Dynamics news, CEO Leonard Livschitz sold 10,000 shares of Grid Dynamics stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $10.38, for a total value of $103,800.00. Following the completion of the sale, the chief executive officer now directly owns 3,565,901 shares in the company, valued at $37,014,052.38. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CFO Anil Doradla sold 3,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $10.43, for a total value of $31,290.00. Following the completion of the sale, the chief financial officer now directly owns 372,282 shares in the company, valued at approximately $3,882,901.26. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Leonard Livschitz sold 10,000 shares of the company’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 value of $103,800.00. Following the transaction, the chief executive officer now directly owns 3,565,901 shares in the company, valued at $37,014,052.38. The disclosure for this sale can be found here. Insiders have sold a total of 954,387 shares of company stock worth $12,176,954 in the last 90 days. Corporate insiders own 7.40% of the company’s stock.

Grid Dynamics Stock Performance

NASDAQ:GDYN opened at $13.29 on Friday. Grid Dynamics Holdings, Inc. has a fifty-two week low of $9.07 and a fifty-two week high of $14.70. The company has a 50 day simple moving average of $13.26 and a two-hundred day simple moving average of $11.63. The company has a market capitalization of $1.02 billion, a PE ratio of 443.00 and a beta of 1.06.

Grid Dynamics (NASDAQ:GDYN) last announced its 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. The business had revenue of $83.04 million during the quarter, compared to the consensus estimate of $81.06 million. Grid Dynamics had a negative net margin of 0.37% and a positive return on equity of 1.05%. Grid Dynamics’s quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.09 earnings per share. Research analysts predict that Grid Dynamics Holdings, Inc. will post 0.02 EPS for the current year.

Grid Dynamics 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.