Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Shares Sold by Taylor Frigon Capital Management LLC

Taylor Frigon Capital Management LLC lowered its stake in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 25.4% in the fourth quarter, Holdings Channel reports. The firm owned 201,887 shares of the company’s stock after selling 68,697 shares during the period. Grid Dynamics comprises about 2.3% of Taylor Frigon Capital Management LLC’s holdings, making the stock its biggest position. Taylor Frigon Capital Management LLC’s holdings in Grid Dynamics were worth $4,490,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GDYN. Rice Hall James & Associates LLC bought a new stake in shares of Grid Dynamics during the 3rd quarter worth $1,751,000. Royce & Associates LP boosted its holdings in Grid Dynamics by 5.9% during the third quarter. Royce & Associates LP now owns 802,101 shares of the company’s stock valued at $11,229,000 after acquiring an additional 44,720 shares during the period. Quest Partners LLC grew its position in shares of Grid Dynamics by 35,544.7% in the third quarter. Quest Partners LLC now owns 16,753 shares of the company’s stock valued at $235,000 after purchasing an additional 16,706 shares during the last quarter. Intech Investment Management LLC bought a new position in shares of Grid Dynamics in the third quarter worth about $153,000. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Grid Dynamics by 3.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 464,206 shares of the company’s stock worth $6,499,000 after purchasing an additional 13,785 shares during the period. Institutional investors and hedge funds own 71.18% of the company’s stock.

Insider Transactions at Grid Dynamics

In related news, CFO Anil Doradla sold 3,000 shares of the stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $22.12, for a total value of $66,360.00. Following the completion of the transaction, the chief financial officer now owns 343,012 shares of the company’s stock, valued at $7,587,425.44. This represents a 0.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last three months, insiders sold 8,000 shares of company stock valued at $171,780. Company insiders own 7.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on GDYN. JPMorgan Chase & Co. increased their target price on Grid Dynamics from $17.00 to $18.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. TD Cowen increased their price objective on Grid Dynamics from $16.00 to $19.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, Needham & Company LLC boosted their target price on shares of Grid Dynamics from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $19.17.

Grid Dynamics Stock Down 2.1 %

Grid Dynamics stock opened at $19.90 on Thursday. Grid Dynamics Holdings, Inc. has a 12 month low of $9.07 and a 12 month high of $25.50. The stock has a market cap of $1.64 billion, a price-to-earnings ratio of 497.58 and a beta of 1.01. The business has a 50 day moving average price of $21.67 and a two-hundred day moving average price of $17.79.

Grid Dynamics (NASDAQ:GDYN) last issued its earnings results on Thursday, February 20th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.06). Grid Dynamics had a negative return on equity of 0.33% and a net margin of 1.15%. The firm had revenue of $100.28 million during the quarter, compared to the consensus estimate of $96.00 million. On average, analysts expect that Grid Dynamics Holdings, Inc. will post 0.18 earnings per share for the current fiscal 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.