Royce & Associates LP Boosts Position in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)

Royce & Associates LP boosted its stake in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) by 5.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 802,101 shares of the company's stock after purchasing an additional 44,720 shares during the period. Royce & Associates LP owned approximately 1.05% of Grid Dynamics worth $11,229,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in shares of Grid Dynamics by 1.6% in the first quarter. Vanguard Group Inc. now owns 4,202,012 shares of the company's stock worth $51,643,000 after acquiring an additional 64,300 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Grid Dynamics by 14.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,672,906 shares of the company's stock valued at $17,581,000 after purchasing an additional 206,201 shares during the period. Summit Creek Advisors LLC increased its position in shares of Grid Dynamics by 25.1% during the 2nd quarter. Summit Creek Advisors LLC now owns 1,147,992 shares of the company's stock valued at $12,065,000 after purchasing an additional 230,688 shares during the last quarter. Fourth Sail Capital LP lifted its stake in shares of Grid Dynamics by 138.0% in the 2nd quarter. Fourth Sail Capital LP now owns 769,924 shares of the company's stock worth $8,092,000 after purchasing an additional 446,477 shares during the period. Finally, Silvercrest Asset Management Group LLC boosted its holdings in shares of Grid Dynamics by 43.1% in the first quarter. Silvercrest Asset Management Group LLC now owns 604,481 shares of the company's stock worth $7,429,000 after buying an additional 182,052 shares during the last quarter. Institutional investors own 71.18% of the company's stock.

Analyst Upgrades and Downgrades

GDYN has been the subject of a number of research reports. JPMorgan Chase & Co. upped their target price on shares of Grid Dynamics from $17.00 to $18.00 and gave the company an "overweight" rating in a report on Wednesday, October 30th. Cantor Fitzgerald upgraded Grid Dynamics to a "strong-buy" rating in a research note on Monday, August 12th. TD Cowen raised their target price on Grid Dynamics from $16.00 to $19.00 and gave the stock a "buy" rating in a report on Friday, November 1st. Needham & Company LLC boosted their price target on Grid Dynamics from $17.00 to $20.00 and gave the company a "buy" rating in a report on Friday, November 1st. Finally, Citigroup upped their price target on Grid Dynamics from $17.00 to $18.00 and gave the stock a "buy" rating in a research report on Monday, October 28th. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $17.50.

Insider Buying and Selling at Grid Dynamics

In other Grid Dynamics news, CEO Leonard Livschitz sold 15,000 shares of the stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $14.56, for a total transaction of $218,400.00. Following the completion of the transaction, the chief executive officer now owns 3,460,901 shares in the company, valued at $50,390,718.56. This trade represents a 0.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Anil Doradla sold 3,000 shares of the business's stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $17.66, for a total transaction of $52,980.00. Following the completion of the sale, the chief financial officer now owns 380,282 shares in the company, valued at approximately $6,715,780.12. This trade represents a 0.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 950,387 shares of company stock valued at $12,239,324 in the last three months. 7.40% of the stock is currently owned by corporate insiders.

Grid Dynamics Trading Down 4.6 %

Grid Dynamics stock traded down $0.78 during mid-day trading on Friday, hitting $16.25. The stock had a trading volume of 1,109,724 shares, compared to its average volume of 662,689. Grid Dynamics Holdings, Inc. has a one year low of $9.07 and a one year high of $19.86. The firm has a market capitalization of $1.25 billion, a P/E ratio of 541.85 and a beta of 1.04. The firm's 50 day moving average is $15.19 and its 200 day moving average is $12.74.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.10 earnings per share for the quarter, topping analysts' consensus estimates of $0.09 by $0.01. The firm had revenue of $87.40 million during the quarter, compared to analyst estimates of $85.09 million. Grid Dynamics had a return on equity of 0.15% and a net margin of 0.74%. The business's quarterly revenue was up 12.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.08 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.