Short Interest in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Grows By 15.4%

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) was the target of a large increase in short interest in December. As of December 15th, there was short interest totalling 1,870,000 shares, an increase of 15.4% from the November 30th total of 1,620,000 shares. Approximately 3.0% of the shares of the stock are short sold. Based on an average daily volume of 554,200 shares, the short-interest ratio is currently 3.4 days.

Insider Transactions at Grid Dynamics

In other news, CFO Anil Doradla sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $17.66, for a total value of $70,640.00. Following the completion of the transaction, the chief financial officer now owns 376,282 shares of the company’s stock, valued at $6,645,140.12. The trade was a 1.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Leonard Livschitz sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $14.56, for a total transaction of $218,400.00. Following the sale, the chief executive officer now owns 3,460,901 shares in the company, valued at approximately $50,390,718.56. This trade represents a 0.43 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 25,000 shares of company stock valued at $399,260 in the last ninety days. Corporate insiders own 7.20% of the company’s stock.

Institutional Investors Weigh In On Grid Dynamics

Large investors have recently made changes to their positions in the business. Wellington Management Group LLP boosted its position in Grid Dynamics by 30.9% during the 3rd quarter. Wellington Management Group LLP now owns 2,859,808 shares of the company’s stock worth $40,037,000 after purchasing an additional 675,419 shares during the period. Lord Abbett & CO. LLC acquired a new position in shares of Grid Dynamics during the third quarter worth about $8,589,000. Fourth Sail Capital LP boosted its position in shares of Grid Dynamics by 138.0% in the second quarter. Fourth Sail Capital LP now owns 769,924 shares of the company’s stock worth $8,092,000 after buying an additional 446,477 shares during the period. Summit Creek Advisors LLC grew its stake in shares of Grid Dynamics by 25.1% in the second quarter. Summit Creek Advisors LLC now owns 1,147,992 shares of the company’s stock valued at $12,065,000 after buying an additional 230,688 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Grid Dynamics by 14.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,672,906 shares of the company’s stock valued at $17,581,000 after buying an additional 206,201 shares during the period. Institutional investors and hedge funds own 71.18% of the company’s stock.

Grid Dynamics Trading Down 1.2 %

Shares of Grid Dynamics stock opened at $22.24 on Wednesday. The stock has a market capitalization of $1.83 billion, a P/E ratio of 741.58 and a beta of 1.06. The business’s fifty day moving average price is $18.40 and its 200 day moving average price is $14.85. Grid Dynamics has a twelve month low of $9.07 and a twelve month high of $24.16.

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

Analysts Set New Price Targets

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

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.