JPMorgan Chase & Co. Has $2.18 Million Stock Holdings in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

JPMorgan Chase & Co. decreased its stake in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) by 70.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 155,759 shares of the company's stock after selling 366,303 shares during the period. JPMorgan Chase & Co. owned approximately 0.19% of Grid Dynamics worth $2,181,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Wellington Management Group LLP grew its stake in shares of Grid Dynamics by 30.9% in the 3rd quarter. Wellington Management Group LLP now owns 2,859,808 shares of the company's stock worth $40,037,000 after purchasing an additional 675,419 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Grid Dynamics by 14.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,672,906 shares of the company's stock worth $17,581,000 after buying an additional 206,201 shares during the last quarter. State Street Corp lifted its stake in shares of Grid Dynamics by 0.5% in the third quarter. State Street Corp now owns 1,446,130 shares of the company's stock worth $20,246,000 after buying an additional 6,938 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Grid Dynamics by 1.3% in the third quarter. Geode Capital Management LLC now owns 1,381,429 shares of the company's stock worth $19,344,000 after buying an additional 17,763 shares during the last quarter. Finally, Royce & Associates LP lifted its stake in shares of Grid Dynamics by 5.9% in the third quarter. Royce & Associates LP now owns 802,101 shares of the company's stock worth $11,229,000 after buying an additional 44,720 shares during the last quarter. Institutional investors and hedge funds own 71.18% of the company's stock.

Grid Dynamics Stock Performance

Shares of GDYN stock traded up $0.51 during mid-day trading on Wednesday, reaching $21.31. The company's stock had a trading volume of 584,318 shares, compared to its average volume of 705,278. Grid Dynamics Holdings, Inc. has a 1-year low of $9.07 and a 1-year high of $24.16. The company has a market cap of $1.76 billion, a P/E ratio of 710.57 and a beta of 1.01. The firm's 50-day moving average is $19.78 and its two-hundred day moving average is $16.02.

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 analysts' consensus estimates of $0.09 by $0.01. Grid Dynamics had a net margin of 0.74% and a return on equity of 0.15%. The company had revenue of $87.40 million during the quarter, compared to analysts' expectations of $85.09 million. During the same quarter in the prior year, the company posted $0.08 EPS. The business's revenue was up 12.9% on a year-over-year basis. Sell-side analysts anticipate that Grid Dynamics Holdings, Inc. will post 0.03 EPS for the current year.

Insiders Place Their Bets

In other Grid Dynamics news, CFO Anil Doradla sold 3,000 shares of the company'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 transaction, the chief financial officer now directly owns 380,282 shares in the company, valued at approximately $6,715,780.12. This represents a 0.78 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 13,000 shares of company stock valued at $247,220 in the last 90 days. 7.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

GDYN has been the subject of a number of analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of Grid Dynamics from $17.00 to $18.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 30th. Citigroup upped their target price on shares of Grid Dynamics from $17.00 to $18.00 and gave the company a "buy" rating in a research note on Monday, October 28th. TD Cowen upped their target price on shares of Grid Dynamics from $16.00 to $19.00 and gave the company a "buy" rating in a research note on Friday, November 1st. Finally, Needham & Company LLC upped their target price on shares of Grid Dynamics from $20.00 to $25.00 and gave the company a "buy" rating in a research note on Thursday, December 12th. Five investment 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 stock has an average rating of "Buy" and an average price target of $18.33.

Grid Dynamics Company 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.