Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Get Free Report)'s stock price dropped 4.9% during mid-day trading on Monday . The company traded as low as $23.00 and last traded at $22.87. Approximately 539,611 shares changed hands during trading, a decline of 24% from the average daily volume of 711,620 shares. The stock had previously closed at $24.05.
Wall Street Analyst Weigh In
A number of brokerages have weighed in on GDYN. JPMorgan Chase & Co. raised their price objective on Grid Dynamics from $17.00 to $18.00 and gave the company an "overweight" rating in a report on Wednesday, October 30th. Needham & Company LLC raised their price objective on Grid Dynamics from $20.00 to $25.00 and gave the company a "buy" rating in a report on Thursday, December 12th. TD Cowen lifted their price target on Grid Dynamics from $16.00 to $19.00 and gave the stock a "buy" rating in a report on Friday, November 1st. Finally, Citigroup lifted their price target on Grid Dynamics from $17.00 to $18.00 and gave the stock a "buy" rating in a report on Monday, October 28th. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $18.33.
Get Our Latest Stock Report on GDYN
Grid Dynamics Trading Down 1.4 %
The firm has a fifty day moving average price of $21.36 and a 200 day moving average price of $17.26. The firm has a market cap of $1.86 billion, a PE ratio of 750.92 and a beta of 1.01.
Insider Buying and Selling
In other Grid Dynamics news, CFO Anil Doradla sold 2,000 shares of Grid Dynamics stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $24.09, for a total value of $48,180.00. Following the completion of 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. In the last ninety days, insiders sold 8,000 shares of company stock valued at $171,780. 7.20% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Grid Dynamics
Several hedge funds and other institutional investors have recently made changes to their positions in GDYN. The Manufacturers Life Insurance Company boosted its stake in shares of Grid Dynamics by 5.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,388 shares of the company's stock valued at $235,000 after buying an additional 1,184 shares during the period. Vontobel Holding Ltd. purchased a new stake in Grid Dynamics in the third quarter valued at approximately $1,143,000. Trust Point Inc. lifted its stake in Grid Dynamics by 5.0% in the third quarter. Trust Point Inc. now owns 32,290 shares of the company's stock valued at $452,000 after buying an additional 1,532 shares during the last quarter. Mount Yale Investment Advisors LLC lifted its stake in Grid Dynamics by 32.5% in the third quarter. Mount Yale Investment Advisors LLC now owns 17,791 shares of the company's stock valued at $249,000 after buying an additional 4,362 shares during the last quarter. Finally, Rice Hall James & Associates LLC purchased a new stake in Grid Dynamics in the third quarter valued at approximately $1,751,000. Hedge funds and other institutional investors own 71.18% of the company's stock.
About Grid Dynamics
(
Get Free Report)
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.
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