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

Royce & Associates LP lowered its holdings in Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) by 12.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 705,131 shares of the company's stock after selling 96,970 shares during the period. Royce & Associates LP owned approximately 0.85% of Grid Dynamics worth $15,682,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of GDYN. Wellington Management Group LLP raised its position in shares of Grid Dynamics by 30.9% in 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. Lord Abbett & CO. LLC bought a new stake in shares of Grid Dynamics in the third quarter valued at approximately $8,589,000. Principal Financial Group Inc. raised its position in shares of Grid Dynamics by 1,540.0% in the fourth quarter. Principal Financial Group Inc. now owns 316,601 shares of the company's stock valued at $7,041,000 after purchasing an additional 297,296 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Grid Dynamics in the fourth quarter valued at approximately $4,406,000. Finally, Bank of New York Mellon Corp raised its position in shares of Grid Dynamics by 95.5% in the fourth quarter. Bank of New York Mellon Corp now owns 382,213 shares of the company's stock valued at $8,500,000 after purchasing an additional 186,661 shares during the period. Institutional investors own 71.18% of the company's stock.

Wall Street Analysts Forecast Growth

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

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Grid Dynamics Price Performance

GDYN stock traded down $0.70 during midday trading on Thursday, reaching $16.35. The company had a trading volume of 477,125 shares, compared to its average volume of 557,088. Grid Dynamics Holdings, Inc. has a 1 year low of $9.07 and a 1 year high of $25.50. The company has a market capitalization of $1.37 billion, a P/E ratio of 408.75 and a beta of 1.10. The firm has a 50-day moving average price of $20.56 and a 200-day moving average price of $18.23.

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

Insider Activity

In other Grid Dynamics news, COO Yury Gryzlov sold 10,306 shares of the stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $18.66, for a total transaction of $192,309.96. Following the completion of the sale, the chief operating officer now owns 482,759 shares of the company's stock, valued at $9,008,282.94. This represents a 2.09 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Anil Doradla sold 2,000 shares of the stock in a transaction on Friday, February 7th. The shares were sold at an average price of $24.09, for a total transaction of $48,180.00. Following the sale, the chief financial officer now directly owns 341,012 shares of the company's stock, valued at $8,214,979.08. The trade was a 0.58 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,306 shares of company stock valued at $376,590. Corporate insiders own 7.20% of the company's stock.

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.