Barclays PLC Raises Position in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Barclays PLC boosted its stake in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) by 173.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 111,182 shares of the company's stock after purchasing an additional 70,579 shares during the quarter. Barclays PLC owned about 0.13% of Grid Dynamics worth $1,556,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. FMR LLC increased its stake in Grid Dynamics by 38.7% during the 3rd 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 increased its position in shares of Grid Dynamics by 131.5% during the third quarter. Quarry LP now owns 5,236 shares of the company's stock worth $73,000 after acquiring an additional 2,974 shares in the last quarter. Hsbc Holdings PLC bought a new stake in shares of Grid Dynamics during the second quarter worth about $117,000. Quantbot Technologies LP acquired a new stake in shares of Grid Dynamics in the 3rd quarter worth about $122,000. Finally, XTX Topco Ltd bought a new position in Grid Dynamics in the 2nd quarter valued at about $129,000. 71.18% of the stock is owned by institutional investors.

Insider Transactions at Grid Dynamics

In related news, CFO Anil Doradla sold 3,000 shares of the business'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 sale, the chief financial officer now owns 380,282 shares of the company's stock, valued at $6,715,780.12. The trade was a 0.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In the last three months, insiders have sold 13,000 shares of company stock worth $247,220. 7.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. TD Cowen lifted their target price on Grid Dynamics from $16.00 to $19.00 and gave the company a "buy" rating in a research report on Friday, November 1st. Citigroup upped their target price 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. JPMorgan Chase & Co. raised their price target 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 boosted their price target on shares of Grid Dynamics from $20.00 to $25.00 and gave the stock a "buy" rating in a report on Thursday, December 12th. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $18.33.

Grid Dynamics Stock Down 0.2 %

Shares of NASDAQ GDYN traded down $0.04 during trading hours on Monday, reaching $20.30. 176,805 shares of the stock traded hands, compared to its average volume of 788,426. The company has a market capitalization of $1.67 billion, a P/E ratio of 676.89 and a beta of 1.01. The company's 50-day simple moving average is $19.33 and its two-hundred day simple moving average is $15.51. Grid Dynamics Holdings, Inc. has a 52-week low of $9.07 and a 52-week high of $24.16.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.09 by $0.01. Grid Dynamics had a return on equity of 0.15% and a net margin of 0.74%. The firm had revenue of $87.40 million for the quarter, compared to the consensus estimate of $85.09 million. During the same quarter in the previous year, the business earned $0.08 earnings per share. The company's quarterly revenue was up 12.9% on a year-over-year basis. As a group, sell-side analysts forecast that Grid Dynamics Holdings, Inc. will post 0.03 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.