Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Receives $19.60 Average PT from Brokerages

Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Get Free Report) have been assigned an average recommendation of "Buy" from the six ratings firms that are presently covering the stock, MarketBeat reports. Five analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $19.60.

Separately, Needham & Company LLC increased their target price on Grid Dynamics from $25.00 to $30.00 and gave the company a "buy" rating in a research report on Friday, February 21st.

Insider Transactions at Grid Dynamics

In other Grid Dynamics news, COO Yury Gryzlov sold 10,306 shares of the stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $18.66, for a total transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Anil Doradla sold 3,000 shares of the business's 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 directly owns 343,012 shares of the company's stock, valued at approximately $7,587,425.44. This trade represents a 0.87 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,306 shares of company stock worth $376,590. Company insiders own 7.20% of the company's stock.

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Institutional Investors Weigh In On Grid Dynamics

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Grid Dynamics by 26.8% during the 4th quarter. Vanguard Group Inc. now owns 5,535,526 shares of the company's stock valued at $123,110,000 after buying an additional 1,171,481 shares in the last quarter. Wellington Management Group LLP raised its position 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 worth $40,037,000 after acquiring an additional 675,419 shares during the period. Loomis Sayles & Co. L P purchased a new position in Grid Dynamics during the fourth quarter valued at $55,114,000. Dimensional Fund Advisors LP grew its position in shares of Grid Dynamics by 1.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,816,447 shares of the company's stock valued at $40,399,000 after purchasing an additional 17,881 shares during the period. Finally, Next Century Growth Investors LLC increased its stake in shares of Grid Dynamics by 78.1% during the fourth quarter. Next Century Growth Investors LLC now owns 1,622,226 shares of the company's stock worth $36,078,000 after purchasing an additional 711,150 shares in the last quarter. Institutional investors and hedge funds own 71.18% of the company's stock.

Grid Dynamics Trading Down 0.6 %

Grid Dynamics stock traded down $0.09 during trading on Wednesday, reaching $16.26. The company had a trading volume of 2,414,448 shares, compared to its average volume of 566,260. The firm has a market capitalization of $1.36 billion, a price-to-earnings ratio of 406.50 and a beta of 1.10. The firm's 50-day simple moving average is $20.38 and its 200 day simple moving average is $18.23. Grid Dynamics has a 52 week low of $9.07 and a 52 week high of $25.50.

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

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.