Prudential Financial Inc. Sells 60,390 Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Prudential Financial Inc. trimmed its stake in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) by 54.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 49,870 shares of the company's stock after selling 60,390 shares during the quarter. Prudential Financial Inc. owned 0.06% of Grid Dynamics worth $1,109,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. American Century Companies Inc. lifted its position in shares of Grid Dynamics by 824.9% during the 4th quarter. American Century Companies Inc. now owns 621,465 shares of the company's stock worth $13,821,000 after buying an additional 554,275 shares during the period. Lord Abbett & CO. LLC acquired a new position in Grid Dynamics during the third quarter worth $8,589,000. SG Americas Securities LLC bought a new position in shares of Grid Dynamics during the fourth quarter valued at $242,000. Barclays PLC boosted its stake in shares of Grid Dynamics by 173.8% in the 3rd quarter. Barclays PLC now owns 111,182 shares of the company's stock valued at $1,556,000 after purchasing an additional 70,579 shares in the last quarter. Finally, Wellington Management Group LLP grew its holdings 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. 71.18% of the stock is currently owned by institutional investors.

Grid Dynamics Stock Performance

Grid Dynamics stock traded up $0.01 on Friday, reaching $13.53. The company's stock had a trading volume of 568,640 shares, compared to its average volume of 604,626. Grid Dynamics Holdings, Inc. has a twelve month low of $9.07 and a twelve month high of $25.50. The company has a market cap of $1.13 billion, a price-to-earnings ratio of 338.25 and a beta of 0.99. The business's fifty day moving average price is $18.13 and its 200 day moving average price is $18.36.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.04 EPS for the quarter, missing analysts' consensus estimates of $0.10 by ($0.06). The company had revenue of $100.28 million for the quarter, compared to the consensus estimate of $96.00 million. Grid Dynamics had a negative return on equity of 0.33% and a net margin of 1.15%. As a group, equities analysts forecast that Grid Dynamics Holdings, Inc. will post 0.18 earnings per share for the current year.

Insider Activity

In other Grid Dynamics news, COO Yury Gryzlov sold 10,306 shares of the company's stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $18.66, for a total transaction of $192,309.96. Following the transaction, the chief operating officer now owns 482,759 shares of the company's stock, valued at approximately $9,008,282.94. This represents a 2.09 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Anil Doradla sold 2,000 shares of Grid Dynamics stock in a transaction on Friday, February 7th. The shares were sold at an average price of $24.09, for a total value of $48,180.00. Following the completion of the sale, the chief financial officer now directly owns 341,012 shares of the company's stock, valued at $8,214,979.08. This trade represents a 0.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,043 shares of company stock valued at $349,078 over the last three months. 7.20% of the stock is owned by insiders.

Analyst Ratings Changes

Separately, Needham & Company LLC lifted their price target on shares of Grid Dynamics from $25.00 to $30.00 and gave the company a "buy" rating in a report on Friday, February 21st. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Grid Dynamics currently has a consensus rating of "Buy" and an average price target of $19.60.

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.