Vontobel Holding Ltd. Purchases Shares of 81,654 Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Vontobel Holding Ltd. acquired a new stake in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 81,654 shares of the company's stock, valued at approximately $1,143,000. Vontobel Holding Ltd. owned 0.11% of Grid Dynamics as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in GDYN. Harbor Capital Advisors Inc. grew its holdings in shares of Grid Dynamics by 21.3% during the second quarter. Harbor Capital Advisors Inc. now owns 10,073 shares of the company's stock worth $106,000 after buying an additional 1,770 shares in the last quarter. Hsbc Holdings PLC acquired a new stake in shares of Grid Dynamics in the second quarter worth approximately $117,000. ProShare Advisors LLC acquired a new stake in shares of Grid Dynamics in the first quarter worth approximately $124,000. XTX Topco Ltd acquired a new stake in shares of Grid Dynamics in the second quarter worth approximately $129,000. Finally, Mount Yale Investment Advisors LLC acquired a new stake in shares of Grid Dynamics in the second quarter worth approximately $141,000. Institutional investors and hedge funds own 71.18% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Citigroup decreased their target price on shares of Grid Dynamics from $15.00 to $14.00 and set a "buy" rating on the stock in a research report on Friday, July 12th. Cantor Fitzgerald upgraded Grid Dynamics to a "strong-buy" rating in a research note on Monday, August 12th. TD Cowen upgraded Grid Dynamics from a "hold" rating to a "buy" rating and increased their target price for the company from $12.00 to $16.00 in a research note on Friday, August 2nd. JPMorgan Chase & Co. increased their target price on Grid Dynamics from $15.00 to $17.00 and gave the company an "overweight" rating in a research note on Friday, September 6th. Finally, Needham & Company LLC raised their price objective on Grid Dynamics from $16.00 to $17.00 and gave the company a "buy" rating in a research note on Monday, August 5th. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $15.67.

Insider Buying and Selling at Grid Dynamics

In other news, CFO Anil Doradla sold 3,000 shares of Grid Dynamics stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $12.97, for a total transaction of $38,910.00. Following the transaction, the chief financial officer now directly owns 369,282 shares in the company, valued at approximately $4,789,587.54. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Leonard Livschitz sold 15,000 shares of Grid Dynamics stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $13.02, for a total value of $195,300.00. Following the transaction, the chief executive officer now directly owns 3,520,901 shares in the company, valued at $45,842,131.02. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Anil Doradla sold 3,000 shares of the company's stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $12.97, for a total value of $38,910.00. Following the transaction, the chief financial officer now directly owns 369,282 shares in the company, valued at $4,789,587.54. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 961,387 shares of company stock valued at $12,349,914 in the last quarter. Corporate insiders own 7.40% of the company's stock.

Grid Dynamics Price Performance

Shares of NASDAQ GDYN traded down $0.05 during mid-day trading on Monday, hitting $15.54. The company had a trading volume of 231,897 shares, compared to its average volume of 328,525. The stock has a market cap of $1.19 billion, a price-to-earnings ratio of 518.00 and a beta of 1.06. Grid Dynamics Holdings, Inc. has a 12 month low of $9.07 and a 12 month high of $15.69. The firm's 50 day simple moving average is $14.06 and its two-hundred day simple moving average is $11.93.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) last announced its earnings results on Thursday, August 1st. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.01. The firm had revenue of $83.04 million for the quarter, compared to the consensus estimate of $81.06 million. Grid Dynamics had a positive return on equity of 1.05% and a negative net margin of 0.37%. The firm's revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.09 EPS.

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.