Jane Street Group LLC Has $842,000 Stock Position in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Jane Street Group LLC cut its holdings in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 31.3% during the third quarter, Holdings Channel.com reports. The firm owned 60,171 shares of the company’s stock after selling 27,392 shares during the quarter. Jane Street Group LLC’s holdings in Grid Dynamics were worth $842,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. FMR LLC grew its position in Grid Dynamics by 38.7% in the third quarter. FMR LLC now owns 2,873 shares of the company’s stock valued at $40,000 after purchasing an additional 801 shares in the last quarter. Quarry LP grew its holdings in shares of Grid Dynamics by 131.5% in the 3rd quarter. Quarry LP now owns 5,236 shares of the company’s stock valued at $73,000 after acquiring an additional 2,974 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of Grid Dynamics in the third quarter valued at about $122,000. Intech Investment Management LLC bought a new stake in Grid Dynamics during the third quarter worth about $153,000. Finally, Hsbc Holdings PLC acquired a new position in Grid Dynamics during the second quarter valued at approximately $117,000. Institutional investors own 71.18% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Grid Dynamics Stock Performance

Shares of GDYN stock opened at $22.24 on Thursday. The company has a market capitalization of $1.83 billion, a price-to-earnings ratio of 741.58 and a beta of 1.06. Grid Dynamics Holdings, Inc. has a 52 week low of $9.07 and a 52 week high of $24.16. The company has a 50-day simple moving average of $18.53 and a 200 day simple moving average of $14.90.

Grid Dynamics (NASDAQ:GDYN) last announced its earnings results on Thursday, October 31st. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The company 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 firm’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.08 earnings per share. Sell-side analysts forecast that Grid Dynamics Holdings, Inc. will post 0.03 EPS for the current year.

Insider Activity

In related news, CEO Leonard Livschitz sold 15,000 shares of the business’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 value of $218,400.00. Following the completion of the sale, the chief executive officer now directly owns 3,460,901 shares in the company, valued at approximately $50,390,718.56. The trade was a 0.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Anil Doradla sold 4,000 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $17.66, for a total value of $70,640.00. Following the transaction, the chief financial officer now owns 376,282 shares in the company, valued at approximately $6,645,140.12. This trade represents a 1.05 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 25,000 shares of company stock valued at $399,260. 7.20% of the stock is owned by company insiders.

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.