Royce & Associates LP Sells 96,970 Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Royce & Associates LP trimmed its position in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) by 12.1% in the 4th quarter, Holdings Channel reports. The firm owned 705,131 shares of the company’s stock after selling 96,970 shares during the quarter. Royce & Associates LP’s holdings in Grid Dynamics were worth $15,682,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Wellington Management Group LLP boosted its stake in Grid Dynamics by 30.9% during the third quarter. Wellington Management Group LLP now owns 2,859,808 shares of the company’s stock valued at $40,037,000 after buying an additional 675,419 shares during the period. Lord Abbett & CO. LLC bought a new stake in shares of Grid Dynamics during the 3rd quarter valued at about $8,589,000. Principal Financial Group Inc. grew its holdings in shares of Grid Dynamics by 1,540.0% during the fourth quarter. Principal Financial Group Inc. now owns 316,601 shares of the company’s stock worth $7,041,000 after purchasing an additional 297,296 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Grid Dynamics in the fourth quarter worth approximately $4,406,000. Finally, Bank of New York Mellon Corp raised its stake in Grid Dynamics by 95.5% in the fourth quarter. Bank of New York Mellon Corp now owns 382,213 shares of the company’s stock valued at $8,500,000 after purchasing an additional 186,661 shares in the last quarter. 71.18% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Grid Dynamics news, CFO Anil Doradla sold 2,000 shares of Grid Dynamics stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $24.09, for a total value of $48,180.00. Following the transaction, the chief financial officer now directly owns 341,012 shares of the company’s stock, valued at $8,214,979.08. The trade was a 0.58 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Yury Gryzlov sold 10,306 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $18.66, for a total value of $192,309.96. Following the sale, the chief operating officer now directly owns 482,759 shares of the company’s stock, valued at approximately $9,008,282.94. This trade represents a 2.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,306 shares of company stock valued at $376,590 over the last three months. Insiders own 7.20% of the company’s stock.

Grid Dynamics Trading Up 2.8 %

Shares of NASDAQ GDYN opened at $16.82 on Monday. The stock has a market cap of $1.41 billion, a price-to-earnings ratio of 420.50 and a beta of 1.10. The stock’s 50-day moving average is $20.84 and its 200 day moving average is $18.20. Grid Dynamics Holdings, Inc. has a 1-year low of $9.07 and a 1-year high of $25.50.

Grid Dynamics (NASDAQ:GDYN) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $100.28 million during the quarter, compared to the consensus estimate of $96.00 million. On average, analysts forecast that Grid Dynamics Holdings, Inc. will post 0.18 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Needham & Company LLC increased their price target on shares of Grid Dynamics from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Grid Dynamics presently has a consensus rating of “Buy” and a consensus target price of $19.60.

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.