Mirador Capital Partners LP Sells 41,067 Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Mirador Capital Partners LP trimmed its position in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) by 35.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 74,559 shares of the company's stock after selling 41,067 shares during the period. Mirador Capital Partners LP owned 0.09% of Grid Dynamics worth $1,658,000 at the end of the most recent quarter.

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

Insider Activity

In related news, CFO Anil Doradla sold 3,000 shares of Grid Dynamics stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $22.12, for a total transaction of $66,360.00. Following the completion of the sale, the chief financial officer now 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 13,000 shares of company stock worth $247,220 in the last ninety days. Corporate insiders own 7.20% of the company's stock.

Grid Dynamics Trading Down 1.9 %

NASDAQ GDYN traded down $0.41 during trading on Thursday, reaching $20.65. 472,412 shares of the company's stock were exchanged, compared to its average volume of 749,161. Grid Dynamics Holdings, Inc. has a fifty-two week low of $9.07 and a fifty-two week high of $24.16. The company's fifty day simple moving average is $19.60 and its 200-day simple moving average is $15.69. The firm has a market capitalization of $1.70 billion, a PE ratio of 688.56 and a beta of 1.01.

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

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on GDYN. Needham & Company LLC lifted their target price on Grid Dynamics from $20.00 to $25.00 and gave the stock a "buy" rating in a report on Thursday, December 12th. Citigroup raised their price objective on shares of Grid Dynamics from $17.00 to $18.00 and gave the company a "buy" rating in a research report on Monday, October 28th. JPMorgan Chase & Co. boosted their target price on shares of Grid Dynamics from $17.00 to $18.00 and gave the stock an "overweight" rating in a report on Wednesday, October 30th. Finally, TD Cowen raised their target price 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. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price 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.