Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Shares Sold by Jane Street Group LLC

Jane Street Group LLC decreased its holdings in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) by 31.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 60,171 shares of the company's stock after selling 27,392 shares during the period. Jane Street Group LLC owned approximately 0.08% of Grid Dynamics worth $842,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of GDYN. Bank of New York Mellon Corp raised its stake in Grid Dynamics by 9.6% during the second quarter. Bank of New York Mellon Corp now owns 240,095 shares of the company's stock worth $2,523,000 after purchasing an additional 20,989 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Grid Dynamics by 17.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,919 shares of the company's stock worth $188,000 after acquiring an additional 2,673 shares during the period. Principal Financial Group Inc. increased its stake in Grid Dynamics by 11.2% during the second quarter. Principal Financial Group Inc. now owns 41,044 shares of the company's stock worth $431,000 after acquiring an additional 4,134 shares during the last quarter. Rhumbline Advisers increased its stake in Grid Dynamics by 5.2% during the second quarter. Rhumbline Advisers now owns 82,323 shares of the company's stock worth $865,000 after acquiring an additional 4,072 shares during the last quarter. Finally, Summit Creek Advisors LLC raised its position in Grid Dynamics by 25.1% in the second quarter. Summit Creek Advisors LLC now owns 1,147,992 shares of the company's stock valued at $12,065,000 after purchasing an additional 230,688 shares during the period. 71.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on GDYN shares. Citigroup boosted their price objective on shares of Grid Dynamics from $17.00 to $18.00 and gave the company a "buy" rating in a report on Monday, October 28th. TD Cowen upped their price objective on shares of Grid Dynamics from $16.00 to $19.00 and gave the stock a "buy" rating in a report on Friday, November 1st. Needham & Company LLC lifted their target price on shares of Grid Dynamics from $20.00 to $25.00 and gave the company a "buy" rating in a report on Thursday, December 12th. Finally, JPMorgan Chase & Co. boosted their target price on Grid Dynamics from $17.00 to $18.00 and gave the company an "overweight" rating in a research report on Wednesday, October 30th. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $18.33.

Insider Activity at Grid Dynamics

In other Grid Dynamics news, CEO Leonard Livschitz sold 15,000 shares of the firm's stock in a transaction 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 sale, the chief executive officer now directly owns 3,460,901 shares in the company, valued at $50,390,718.56. This trade represents a 0.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Anil Doradla sold 4,000 shares of Grid Dynamics stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $17.66, for a total value of $70,640.00. Following the sale, the chief financial officer now directly owns 376,282 shares of the company's stock, valued at $6,645,140.12. This trade represents a 1.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 25,000 shares of company stock valued at $399,260 over the last 90 days. 7.20% of the stock is owned by corporate insiders.

Grid Dynamics Trading Down 1.1 %

GDYN traded down $0.24 during trading hours on Thursday, hitting $22.00. 1,255,823 shares of the company's stock were exchanged, compared to its average volume of 464,866. The firm has a market cap of $1.81 billion, a P/E ratio of 733.58 and a beta of 1.06. Grid Dynamics Holdings, Inc. has a 12-month low of $9.07 and a 12-month high of $24.16. The firm has a 50 day moving average of $18.53 and a 200 day moving average of $14.90.

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