Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Stock Position Lowered by Mesirow Financial Investment Management Inc.

Mesirow Financial Investment Management Inc. trimmed its position in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 17.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 12,418 shares of the company’s stock after selling 2,668 shares during the period. Mesirow Financial Investment Management Inc.’s holdings in Grid Dynamics were worth $174,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. boosted its holdings 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 worth $106,000 after purchasing an additional 1,770 shares during the period. Hsbc Holdings PLC acquired a new stake in shares of Grid Dynamics during the 2nd quarter valued at $117,000. ProShare Advisors LLC acquired a new position in shares of Grid Dynamics in the first quarter worth $124,000. XTX Topco Ltd purchased a new stake in shares of Grid Dynamics during the second quarter worth $129,000. Finally, Mount Yale Investment Advisors LLC acquired a new stake in Grid Dynamics during the second quarter valued at $141,000. 71.18% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have weighed in on GDYN. Cantor Fitzgerald raised Grid Dynamics to a “strong-buy” rating in a research report on Monday, August 12th. Needham & Company LLC increased their price objective on Grid Dynamics from $17.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, November 1st. TD Cowen lifted their target price on shares of Grid Dynamics from $16.00 to $19.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Citigroup increased their price target on shares of Grid Dynamics from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Grid Dynamics from $17.00 to $18.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Grid Dynamics presently has an average rating of “Buy” and an average target price of $17.50.

Insider Activity at Grid Dynamics

In other news, CFO Anil Doradla sold 3,000 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $17.66, for a total transaction of $52,980.00. Following the completion of the transaction, the chief financial officer now owns 380,282 shares of the company’s stock, valued at approximately $6,715,780.12. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Grid Dynamics news, major shareholder Teamsun Technology Co. Beijing sold 913,387 shares of Grid Dynamics stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $12.80, for a total transaction of $11,691,353.60. Following the sale, the insider now owns 13,889,183 shares in the company, valued at $177,781,542.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Anil Doradla sold 3,000 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $17.66, for a total transaction of $52,980.00. Following the completion of the transaction, the chief financial officer now owns 380,282 shares of the company’s stock, valued at approximately $6,715,780.12. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 950,387 shares of company stock worth $12,239,324 in the last ninety days. 7.40% of the stock is currently owned by insiders.

Grid Dynamics Trading Down 5.4 %

Shares of Grid Dynamics stock opened at $18.08 on Thursday. The firm has a fifty day simple moving average of $14.99 and a 200-day simple moving average of $12.59. The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of 602.87 and a beta of 1.04. Grid Dynamics Holdings, Inc. has a 1-year low of $9.07 and a 1-year high of $19.86.

Grid Dynamics (NASDAQ:GDYN) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. The company had revenue of $87.40 million during the quarter, compared to analysts’ expectations of $85.09 million. Grid Dynamics had a net margin of 0.74% and a return on equity of 0.15%. The business’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.08 earnings per share.

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.