Rice Hall James & Associates LLC Makes New Investment in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Rice Hall James & Associates LLC acquired a new position in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 125,084 shares of the company's stock, valued at approximately $1,751,000. Rice Hall James & Associates LLC owned 0.16% of Grid Dynamics as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Harbor Capital Advisors Inc. grew its stake in Grid Dynamics by 21.3% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 10,073 shares of the company's stock valued at $106,000 after acquiring an additional 1,770 shares during the period. ProShare Advisors LLC acquired a new stake in shares of Grid Dynamics in the first quarter valued at about $124,000. Hsbc Holdings PLC purchased a new stake in shares of Grid Dynamics during the second quarter worth about $117,000. XTX Topco Ltd acquired a new position in shares of Grid Dynamics during the 2nd quarter worth about $129,000. Finally, Mount Yale Investment Advisors LLC acquired a new position in shares of Grid Dynamics during the 2nd quarter worth about $141,000. 71.18% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Grid Dynamics news, major shareholder Teamsun Technology Co. Beijing sold 913,387 shares of the firm's stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $12.80, for a total transaction of $11,691,353.60. Following the completion of the sale, the insider now owns 13,889,183 shares of the company's stock, valued at $177,781,542.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Leonard Livschitz sold 15,000 shares of the business's stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $13.73, for a total value of $205,950.00. Following the sale, the chief executive officer now directly owns 3,475,901 shares of the company's stock, valued at approximately $47,724,120.73. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Teamsun Technology Co. Beijing sold 913,387 shares of Grid Dynamics stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $12.80, for a total transaction of $11,691,353.60. Following the completion of the sale, the insider now owns 13,889,183 shares of the company's stock, valued at $177,781,542.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 958,387 shares of company stock valued at $12,311,004 in the last 90 days. Company insiders own 7.40% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. TD Cowen lifted their price objective on Grid Dynamics from $16.00 to $19.00 and gave the stock a "buy" rating in a report on Friday. Citigroup lifted their price target on Grid Dynamics from $17.00 to $18.00 and gave the stock a "buy" rating in a research note on Monday, October 28th. JPMorgan Chase & Co. increased their price objective on Grid Dynamics from $17.00 to $18.00 and gave the company an "overweight" rating in a research note on Wednesday. Cantor Fitzgerald raised shares of Grid Dynamics to a "strong-buy" rating in a research note on Monday, August 12th. Finally, Needham & Company LLC increased their target price on shares of Grid Dynamics from $17.00 to $20.00 and gave the company a "buy" rating in a research report on Friday. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $17.50.

Grid Dynamics Trading Down 4.3 %

NASDAQ:GDYN traded down $0.68 during trading hours on Friday, hitting $15.24. The company had a trading volume of 957,659 shares, compared to its average volume of 336,223. Grid Dynamics Holdings, Inc. has a 1 year low of $9.07 and a 1 year high of $17.66. The company has a 50-day moving average of $14.45 and a 200 day moving average of $12.21. The company has a market cap of $1.17 billion, a P/E ratio of 508.00 and a beta of 1.04.

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

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.